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Listed by Mark Novak • Cummings & Co Realtors
$ 499,900
Est. payment /mo
Exclusive Listing
Under Contract
218 & 216 W READ ST Baltimore, MD 21201
2,614 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID MDBA2200212
Year Built 1900
Annual Tax Amount $9,419
Tax Year 2025
Lot Size 2,614 Sqft
Acres 0.06
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Located in the heart of **Mt. Vernon one of Baltimore's most enduring and in-demand neighborhoods** this 6-unit mixed-use property offers a rare blend of location, income, and flexibility. The building features two street-level commercial storefronts and four residential apartments, creating diversified revenue and broad buyer appeal in a neighborhood known for strong rental demand.
Currently producing $5,175/month in in-place income, three residential units and both commercial spaces are occupied, with one residential unit delivered vacant; an immediate opportunity for an owner to increase cash flow, set market rent, or occupy the unit. Upon lease-up, projected rents support $6,025/month ($72,300 annually).
Mt. Vernon's walkability, cultural institutions, dining, and proximity to downtown, universities, and transit continue to drive consistent demand across residential and commercial sectors. This asset is well-suited for:
Investors seeking stable income in a proven submarket
Owner-users looking to live or work in a premier location while offsetting expenses
Buyers focused on long-term appreciation and mixed-use diversification
Financials support attractive returns in today's market without reliance on speculative assumptions. A clean value-add opportunity in a neighborhood that continues to outperform.
Offered as-is. Rent roll and additional financial information available upon request.
Currently producing $5,175/month in in-place income, three residential units and both commercial spaces are occupied, with one residential unit delivered vacant; an immediate opportunity for an owner to increase cash flow, set market rent, or occupy the unit. Upon lease-up, projected rents support $6,025/month ($72,300 annually).
Mt. Vernon's walkability, cultural institutions, dining, and proximity to downtown, universities, and transit continue to drive consistent demand across residential and commercial sectors. This asset is well-suited for:
Investors seeking stable income in a proven submarket
Owner-users looking to live or work in a premier location while offsetting expenses
Buyers focused on long-term appreciation and mixed-use diversification
Financials support attractive returns in today's market without reliance on speculative assumptions. A clean value-add opportunity in a neighborhood that continues to outperform.
Offered as-is. Rent roll and additional financial information available upon request.
Location
State MD
County Baltimore City
Zoning C-1
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0311020503 010
Ownership Fee Simple
Special Listing Condition Standard
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