Property Description
5461 Cedonia Avenue is a 12-unit, three-story apartment property in Northeast Baltimore featuring six one-bedroom and six two-bedroom units. The property is currently fully occupied and offers immediate rent upside on five units of approximately $100–$400 per month. At the projected purchase price, the property delivers an approximately 9.1% day-one cap rate, with additional upside through future rent growth. The units feature white shaker cabinetry, LVP flooring, stainless steel appliances, renovated bathrooms, and private balconies in select units. The property is all-electric and has laundry in one of the units. The parcel also contains substantial open land beyond the existing building, creating potential for future expansion or additional development, subject to zoning approval. Located in the Frankford/Cedonia corridor, the property provides convenient access to Johns Hopkins Hospital, Johns Hopkins Bayview Medical Center, MedStar Franklin Square Medical Center, and Morgan State University. Cedonia Park and Radecke Park are approximately 0.3 miles away, with Parkside Shopping Center less than one mile away. The nearby Cedonia Loop serves the CityLink PINK and LocalLink 105 bus routes, while I-95, I-895, and I-695 are all within approximately three miles.