339 E 31ST STREET, BALTIMORE, MD 21218 - PenFed Realty Mid-Atlantic

$525,000

Incredible house-hacking / 3-unit investment opportunity WITH 2 READY-TO-RENT GARAGES in the heart of Baltimore's coveted Charles Village neighborhood. Current annual rental income for units 1 and 2 combined is $34,500. If unit 3 (currently and intentionally vacant for a potential owner-occupant) were to be leased for $1,600 per month,… Read More and each garage (also currently available) were leased for $150 per month, total annual income would be $57,300. This statuesque end-of-group residence boasts three separately-metered, spacious units - each flaunting abundant natural light, wood flooring, updated kitchens with modern cabinetry, in-unit laundry, and air conditioning. UNIT 1 encompasses the entire main level, is 1 bedroom, 1 full bathroom, has window units, and is rented for $1,325 per month. The lease is to 8/31/2026. UNIT 2 encompasses the entire second level, is 3 bedrooms, 1 full bathroom, has mini-splits for heating and cooling, and is rented for $1,550 per month. The lease is to 4/30/2027. UNIT 3 is the penthouse apartment and yours to occupy or lease! It encompasses the entire third level, is 3 bedrooms, 1 full bathroom, has window units, and a cozy covered rear deck, and unlike the other two units, it is only accessible via the rear staircase, offering privacy. If you decide to lease this unit, recent rental comps support a $1,600 monthly rent. (See 2724 Saint Paul St #3rd Floor which was only 2 bedrooms/1 bathroom and rented for $1,600 on 8/16/2025. See also 2732 Maryland Ave #2 which was only 2 bedrooms/1 bathroom and rented for $1,600 on 10/1/2025.) The two rear garages are currently unrented and can be yours to utilize in tandem with your penthouse apartment, as storage for maintenance needs, or can each be rented for an estimated $150 per month. With written leases, rent paid up on the occupied units, lead certificates, and a 3-unit rental license (good though 5/8/2028) in hand, this gem delivers turnkey peace of mind. Residents are responsible for their own BGE accounts. The landlord pays the water bill. Recent improvements include : New heating system for units 1 and 3, new refrigerators for all units, and fresh wood stain, new light fixtures, and new paint for unit 3 (2023). New window units for units 1 and 3, new mini splits for heating and cooling for unit 2, and new LVP flooring, bathroom vanity, and paint throughout unit 2 (2021). There is a Special Benefits Tax in this neighborhood. The current cost for the year for this property is $392.87. The Special Benefits Tax is a surcharge which covers additional safety and sanitization efforts to benefit the residents of the area. With its close proximity to the prestigious Johns Hopkins University (.5 miles), Medstar Union Memorial Hospital (.4 miles), Baltimore Museum of Art (.5 miles), downtown Baltimore (3 miles), and countless coffee shops and restaurants, the area is booming with students and professionals alike, making living here and lease-up a breeze! Schedule a showing today! Read Less

Courtesy of Jamie L Koehler, Cummings & Co. Realtors 410-823-0033

Listing Snapshot

Days Online

Last Updated

May 26, 2026

Property Type

Townhouse

Beds

Full Baths

Square Ft.

3,024

Year Built

1900

MLS Number

MDBA2210260

Additional Details

Appliances & Equipment

Refrigerator, Stove, Washer, Dryer, Oven/Range - Gas, Stainless Steel Appliances, Washer/Dryer Stacked, Water Heater

Basement

Outside Entrance, Rear Entrance, Unfinished, Walkout Stairs

Building

Built in 1900, Living area: 3024, Building faces North, Levels: 4, Construction Materials: Brick, Concrete

Cooling

Ductless/Mini-Split, Window Unit(s)

Doors

Six Panel

Accessibility Features

None

Exterior Features

Patio/Porch Features: Porch(es), Exterior Lighting, Gutter System, Fire Escape, Sidewalks, Street Lights

Floors

Wood, Luxury Vinyl Plank, Tile/Brick

Garage

2 spaces

Heating

Forced Air

Interior Features

Bathroom - Tub Shower, Bathroom - Walk-In Shower, Ceiling Fan(s), Wood Floors

Lot

Corner

Parking

Parking Space Conveys

Property

Excellent, Other structures: Above Grade, Below Grade, Street

Security Features

Smoke Detector, Carbon Monoxide Detector(s), Main Entrance Lock

Sewer

Public Sewer

Taxes

Annual Amount: $6,622.16, Lot: 032, Year: 2025, Zoning: R-7

Utilities

Water Source: Public

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