117 W 29th St, Baltimore, MD 21218

Property Description

● Below-Market Rents: Current rents remain below estimated market levels, providing an immediate opportunity to improve NOI through rent growth. ● Johns Hopkins Across the Street: Renovated apartments could be positioned to better capture undergraduate, graduate, faculty, and staff demand while supporting higher rents. ● Overlooking Wyman Park: End-of-group Charles Village location with 20 west-wall windows, a Walk Score of 95, and convenient access to R. House, neighborhood shopping, transit, and recreation. 117 West 29th Street is a six-unit Charles Village apartment building overlooking Wyman Park and directly across from Johns Hopkins University’s Homewood Campus. The property contains four one-bedroom apartments and two studios, along with a one-car garage. As an end-of-group building, approximately 20 windows along the west wall provide additional natural light not typically available in an interior rowhouse. Kitchens feature laminate countertops, primarily wood cabinetry, and mostly stainless-steel sinks. Bathrooms include a mix of modern vanities and pedestal sinks, primarily steel tubs with ceramic tile surrounds, and ceramic tile or vinyl flooring. The apartments offer an opportunity for improvements over time, with renovated units potentially positioned to attract the substantial Johns Hopkins renter pool immediately surrounding the property. Each apartment is separately metered for gas and electric, with six gas meters and six electric meters. Apartments have individual gas-fired furnaces and gas-fired water heaters. Tenants pay their own gas and electric. Water and sewer can also be billed back to tenants, providing another opportunity to increase income and reduce owner-paid expenses. The location combines green space with strong neighborhood connectivity. R. House and the Charles Village shopping district are nearby, the Maryland Avenue protected bike lane begins at the end of the block, and JHU shuttle service and Baltimore Penn Station provide additional transportation options. With below-market rents, renovation potential, garage income, and utility reimbursements, 117 West 29th Street offers multiple paths to increased revenue in one of Charles Village’s most recognizable locations.