1605 Homestead St. & 2643 Kennedy Ave. 1605 Homestead St 26 Unit Apartment Building For Sale Baltimore, MD 21218

Property Overview
3 Buildings | 26 Units | Limited Lead Free | Central Courtyard
$326,600 Gross Potential Annual Rent Based on Full Occupancy
Kennedy Court Apartments presents a well-positioned 26-unit multifamily offering in Baltimore’s revitalizing Coldstream Homestead Montebello neighborhood.
Key Property Features
• Total Units: 26
• Unit Mix: 23-1 Bedroom 1 Bath/3-Studio Apartments
• Additional Garage: Additional rental income or storage for owner
• Strong Tenant Demand: One-bedroom units remain highly sought after in this sub-market
Stabilization Opportunity
Recent Renovations: 10 units have been recently renovated and are currently in the lease-up phase. In addition, many of the remaining units have been renovated in recent years. An external link with photos of all units is provided for full transparency.
Occupancy & Delinquencies: At present, 11 units are in some form of delinquency. 3 of which are under $750 past due. Under prior management, the multi-family dwelling license lapsed, which prevented timely action on delinquent tenants.
Operational Reset Underway: The licensing issue has been fully resolved, and delinquent tenants are now being actively addressed through proper legal and management channels.
Path to Cash Flow: The property is well positioned for positive cash flow through a combination of leasing the recently renovated units and stabilizing collections.
Capital Outlook: No major capital improvements are anticipated to execute the stabilization plan, making this a largely operational upside opportunity for a new owner.
Building Details
1605 Homestead St.
13 Total Units - 11 - 1 Bedroom & 2 Studio units (7 Occupied, 6 Vacant)
Utilities: Each unit is separately metered for gas & electric. Electric has been modernized and is 60amp service to each unit. Property is served by public water/sewer and is paid for by the landlord. Each unit has it's own gas fired water heater and hot water boiler that is on the tenants gas meter. Heat is provided by hot water radiators, other than unit 3, which has electric baseboards. Other than water/sewer, tenants pay for their own utilities.
2643 Kennedy Ave. & 2651 Kennedy Ave. (same tax ID)
13 Total Units - 12 - 1 Bedroom & 1 Studio units (11 Occupied, 2 Vacant)
Utilities: Each unit is separately metered for gas & electric. Electric has been modernized and is 60amp service to each unit. Property is served by public water/sewer and is paid for by the landlord. Heat is provided by a mix of gas fired forced hot air and electric baseboards. Other than water/sewer, tenants pay for their own utilities.
** Monthly Scheduled Rent $16,237 **
** Annual Scheduled Rent based on current occupancy $194,844 **
** Monthly Potential Rent based on full occupancy $27,300 **
** Annual Potential Rent based on full occupancy $327,600 **
Per Seller, 2025 Year to Date through 12.15.25 Expenses:
Extermination: $3,081
Lawn Maintenance & Snow Removal: $2,135
Real Estate Taxes: $25,775
Water/Sewer: $4,487
BG&E: $6,183
Insurance: Estimated @ $600/unit totaling $15,600
The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. Neither the auctioneer or the owner make any representations or warranties with respect to the accuracy of information.
Diligence Package: A copy of the purchase and sale agreement, leases, lead certificates, rental license and assorted addenda are located in the documents section. In order to gain access, you must create a free account as well as accept a non-disclosure agreement.
Auction Notes: Online Auction Only! Bidding begins Saturday, January 24th and ends Thursday, January 29, 2026 at 12:00PM.
Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.