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10-14 E Overlea Ave
Baltimore, MD 21206
Multifamily Property For Sale
·
16 Units
Investment Highlights
- 16-unit multifamily property located along the Belair Road corridor in Baltimore County
- Public transit access directly along Belair Road with routes to Downtown Baltimore
- 14 E Overlea includes separately metered utilities, individual updated hot water heaters, and coin-operated laundry in the basement
- Within 0.3–0.5 miles of Overlea Shopping Center, Overlea Plaza, and Taylor Plaza
- 10 E Overlea features a roof replaced in 2020,and one parking space per unit
Executive Summary
Location Highlights
10–14 E Overlea Ave. is a 16-unit multifamily asset in Baltimore County positioned along the Belair Road corridor, providing direct access to retail and public transit. The property is within 0.3–0.5 miles of Overlea Shopping Center, Overlea Plaza, and Taylor Plaza, offering walkable access to grocery stores, pharmacies, and national retailers, with direct transit connectivity into Downtown Baltimore. The asset is supported by strong nearby demand drivers, including MedStar Franklin Square Medical Center (3.5 miles / ~7 minutes), MedStar Good Samaritan Hospital (4.2 miles / ~10 minutes), CCBC Essex (3.5 miles / ~8 minutes), and Morgan State University (4.2 miles / ~11 minutes), supporting consistent rental demand.
Financial Highlights
The property offers a clear path to increased income, with in-place rents below market comparables. Recent comps indicate average rents of approximately $1,172 for studios, $1,306 for one-bedroom units, $1,483 for two-bedroom units, and $1,655 for three-bedroom units, highlighting a gap between current performance and achievable market levels. Based on these figures, there is an opportunity to capture approximately $90,000+ in additional annual income through rent alignment and improved operations, whether through a light-touch approach or a more structured value-add strategy, further supported by onsite laundry income.
Property Highlights
10 E Overlea Ave features individual boiler systems for heat and one hot water heater per unit, with a master electric meter and separately metered gas. The roof was replaced in 2020, and the property includes approximately one parking space per unit, along with front and rear green space and balconies on select units. Interiors consist of hardwood, carpet, and partial LVT flooring.
14 E Overlea Ave features separately metered gas and electric, individual hot water heaters for each unit, and baseboard electric heat, with all hot water heaters replaced. The building includes two sets of coin-operated washers and dryers in the basement, balconies on select units, and interiors with a mix of LVT, carpet, and linoleum flooring, with one unit including a dishwasher.
10–14 E Overlea Ave. is a 16-unit multifamily asset in Baltimore County positioned along the Belair Road corridor, providing direct access to retail and public transit. The property is within 0.3–0.5 miles of Overlea Shopping Center, Overlea Plaza, and Taylor Plaza, offering walkable access to grocery stores, pharmacies, and national retailers, with direct transit connectivity into Downtown Baltimore. The asset is supported by strong nearby demand drivers, including MedStar Franklin Square Medical Center (3.5 miles / ~7 minutes), MedStar Good Samaritan Hospital (4.2 miles / ~10 minutes), CCBC Essex (3.5 miles / ~8 minutes), and Morgan State University (4.2 miles / ~11 minutes), supporting consistent rental demand.
Financial Highlights
The property offers a clear path to increased income, with in-place rents below market comparables. Recent comps indicate average rents of approximately $1,172 for studios, $1,306 for one-bedroom units, $1,483 for two-bedroom units, and $1,655 for three-bedroom units, highlighting a gap between current performance and achievable market levels. Based on these figures, there is an opportunity to capture approximately $90,000+ in additional annual income through rent alignment and improved operations, whether through a light-touch approach or a more structured value-add strategy, further supported by onsite laundry income.
Property Highlights
10 E Overlea Ave features individual boiler systems for heat and one hot water heater per unit, with a master electric meter and separately metered gas. The roof was replaced in 2020, and the property includes approximately one parking space per unit, along with front and rear green space and balconies on select units. Interiors consist of hardwood, carpet, and partial LVT flooring.
14 E Overlea Ave features separately metered gas and electric, individual hot water heaters for each unit, and baseboard electric heat, with all hot water heaters replaced. The building includes two sets of coin-operated washers and dryers in the basement, balconies on select units, and interiors with a mix of LVT, carpet, and linoleum flooring, with one unit including a dishwasher.
Property Facts
| Price Per Unit | $137,280 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 9.63% | Building Size | 14,400 SF |
| No. Units | 16 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1900/2004 |
| Apartment Style | Low-Rise | Parking Ratio | 10/1,000 SF |
| Zoning | DR5.5, County | ||
| Price Per Unit | $137,280 CAD |
| Sale Type | Investment |
| Cap Rate | 9.63% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.34 AC |
| Building Size | 14,400 SF |
| Average Occupancy | 88% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2004 |
| Parking Ratio | 10/1,000 SF |
| Zoning | DR5.5, County |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Deck
- Lawn
Site Amenities
- Controlled Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Sundeck
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | - | - |
| 3+1 | 1 | - | - |
Property Taxes
| Parcel Number | 14-1408067476 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $415,413 CAD |
Property Taxes
Parcel Number
14-1408067476
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$415,413 CAD
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