Owned and operated by the same owner for approximately 50 years, 2708 Maryland Avenue has seen no capital improvements over that time and is offered at a low cost per unit in the Charles Village corridor. The property presents a clear opportunity to increase income through tenant turnover, interior renovations, and improved management. Investors can pursue multiple strategies, including stabilizing rents to market levels or executing a phased renovation program to unlock higher rental potential.

Three-unit investment opportunity in Charles Village, located just four blocks from Johns Hopkins University’s Homewood Campus and Wyman Park Dell. Offered at $305,000 ($101,667 per unit), the property presents a projected 11.7% cash-on-cash return at market rents based on comparable apartments in similar condition.

The building is configured as two one-bedroom apartments and one studio apartment. The property meets FHA self-sufficiency guidelines, offering an attractive opportunity for an owner-occupant. With as little as 3.5% down, an owner could occupy one unit, rent the remaining units, and achieve an estimated net housing cost of approximately $233/month, including principal, interest, taxes, insurance, and PMI. With 20% down, the estimated net housing cost is approximately $314/month. (Estimates exclude utilities and are based on current projections.)

Located along the Maryland Avenue corridor, tenants enjoy walkable access to the Charles Village Shopping District, the Maryland Avenue Cycle Track, and numerous dining and retail options. The neighborhood is supported by strong, institutionally driven rental demand from Johns Hopkins University and surrounding employment centers.

For investors seeking additional value, targeted interior upgrades — including kitchens, baths, and flooring — could position units to achieve rents of $1,500+ per month in this proven rental corridor.