Renovated 4-Unit in Curtis Bay 1602 Cypress St 4 Unité Immeuble d’appartements 788 695 $ CAD (197 174 $ CAD/Unité) 9,34% Taux de capitalisation Baltimore, MD 21226

Each of the four apartments at this Curtis Bay 4-Unit Apartment Building has been thoughtfully renovated with finishes that appeal to today’s renters. Kitchens feature quartz counters, wood cabinets and stainless-steel appliances, including refrigerators, 30? electric ranges, garbage disposals and built-in microwaves. Bathrooms are finished with modern vanities, steel tubs and ceramic-tile surrounds, while one apartment is fully ADA-compliant, featuring a roll-under sink, barrier-free shower with grab bars, and an exterior ramp for wheelchair access. Drywall walls and ceilings, vinyl plank flooring in living areas and kitchens and ceramic tile in baths create a clean, modern look that’s easy to maintain. Each apartment includes its own stacked washer and dryer, providing added convenience for tenants.
Utilities:
This Curtis Bay 4-Unit Apartment Building operates efficiently with separately metered electric service, allowing tenants to pay for their own usage. The landlord bills tenants back for both public service electric and City water, keeping operating expenses low. The building operates with four 2023 electric heat pumps providing heating and central air conditioning and four 2023 electric water heaters supplying hot water. The property includes five electric meters—one per apartment plus a public service meter—and a single inactive gas meter. Three off-street parking spaces add convenience and rental appeal for tenants.
1602 Cypress is Limited Lead-Free, which reduces paperwork and additional costs during turnover while also reducing landlord liability.

What’s Special About Curtis Bay?
With three of four apartments rented at $1,300–$1,400 per month, 1602 Cypress Street achieves top market rents compared to the Curtis Bay median of $1,250 for a two-bedroom apartment. Modern finishes, in-unit laundry, and recent upgrades draw quality tenants willing to pay a premium, with room for rent growth at turnover. One apartment is fully ADA-compliant—a rare feature in Baltimore City’s small multifamily housing stock—offering accessibility for tenants with mobility needs and broadening the property’s long-term rental appeal.
Located within close reach of the Port of Baltimore, Amazon distribution centers and Tradepoint Atlantic, the property benefits from a steady base of local employment and consistent renter demand. With updated systems, tenant-paid utilities and off-street parking, this four-unit provides investors with a low-maintenance, income-focused opportunity in a reliable South Baltimore rental market.
Investment Summary:
$565,000
$141,250 Per Unit
$197 Per Sq. Ft.
7.8 Times Market Rents (GRM)
9.34% Cap Rate
12.2% Projected Cash-on-Cash Return