937 N CALVERT ST Baltimore, MD 21202
3,080 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Pending
Purchase Type For Sale
Subdivision Mount Vernon
MLS Listing ID MDBA2173908
Year Built 1900
Annual Tax Amount $7,936
Tax Year 2024
Lot Size 3,080 Sqft
Acres 0.07
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
● 6 rented units + 6 gutted one-bedrooms — Fully licensed, separately metered units ready for redevelopment.
● $5,720 in current monthly rent — Offsets carrying costs while you plan your strategy.
● CHAP credit eligibility + tax assessment appeal — Reduce renovation costs with possible CHAP credits and reduce operating costs with a tax appeal.
937 North Calvert Interiors:
Kitchens are equipped with electric ranges. Four units have laminate countertops and wood cabinets; two have porcelain sinktops with metal cabinets. Bathrooms include steel tubs with ceramic tile or vinyl surrounds, along with and a mix of modern vanities or wall-mounted sinks. Wood windows run throughout the building, with walls finished in plaster or wood paneling. Ceilings are plaster, suspended grid, or Celotex. Apartment 2R has 9″ x 9″ tile in both the living area and kitchen; all other units feature a mix of laminate, parquet, and vinyl tile flooring.
939 North Calvert Interior:
Damaged by fire, 939 North Calvert has been fully gutted to the studs. The building shares a similar footprint and layout with 937, offering six pre-existing apartment units across three floors. Emergency shoring has been completed with new star bolts installed; per a prior engineering recommendation, the buyer may add additional anchoring to further stabilize the front wall. This work enables the preservation of the wall and positions the property for potential CHAP tax credits. Renovation of 939 North Calvert will require a full permitting process, installation of a sprinkler system, and a new Use & Occupancy certificate. This is a substantial redevelopment project and best suited for an experienced operator. Party walls include fire emergency doors connecting 939 to 937, providing necessary egress between the buildings.
Utilities and Mechanicals:
The buildings share a 400-amp electric service with 13 meters—one for each apartment plus a public service meter. Units in 937 have fuse panels and are individually metered, with tenants holding their own BGE accounts. One gas meter serves each buildings. Heat for 937 is provided by a central Columbia steam boiler with radiator distribution. Hot water for 937 comes from a central 75-gallon gas-fired water heater. 939 has a steam boiler and a gas-fired water heater, neither of which are currently operational. Observable plumbing supply lines are copper; observable drain lines are steel or PVC.
What's Great About This Half-Rented, Half-Shell Value-Add Opportunity in Mount Vernon?
Located in one of Baltimore's most walkable and culturally rich neighborhoods, this 12-unit opportunity sits just blocks from Penn Station, with access to Amtrak, and MARC trains. Tenants are drawn to the area's top-tier institutions—UB, MICA, Peabody—as well as museums, restaurants, and iconic performance venues like The Lyric and The Meyerhoff Symphony Hall. A Transit Score of 98 and year-round rental demand support long-term stability and above-average rents.
With six income-producing units generating $5,720/month, investors can offset holding costs while executing a phased renovation. The six-unit shell at 939 North Calvert shares a matching footprint and existing layout with 937 North Calvert, streamlining the redevelopment process. Fully renovated one-bedrooms are projected to lease at $1,500/month, with a stabilized ARV of $1,865,680. Buyers may also benefit from CHAP tax credits and can pursue a tax assessment appeal based on the current condition of 939, potentially reducing renovation and holding costs.
Cash flow, tax strategy, and long-term upside—this Mount Vernon asset is ready for a smart operator to unlock its full potential.
Location
State MD
County Baltimore City
Zoning OR-2
Interior
Hot Water Natural Gas
Heating Radiator
Cooling None
Inclusions 6 refrigerators; 6 electric ranges
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Private Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0311120514 024
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
- 6
Hampden Elementary/Middle School
Public | PK - 8
- 6
Thomas Johnson Elementary/Middle School
Public | PK - 8
- 5
Medfield Heights Elementary School
Public | PK - 5
- 5
Mount Royal Elementary/Middle School
Public | KG - 8
- 5
Cecil Elementary School
Public | PK - 5
- 4
KIPP (Knowledge Is Power Program) Harmony
Public | KG - 4
- 4
Mary Ann Winterling Elementary School at Bentalou
Public | PK - 5
- 4
John Eager Howard Elementary School
Public | PK - 5
- 4
Midtown Academy
Public | KG - 8
- 4
Baltimore Montessori Public Charter School
Public | PK - 5
- 4
Federal Hill Preparatory School
Public | PK - 5
- 4
Francis Scott Key Elementary/Middle School
Public | PK - 8
- 4
Northwood Appold Community Academy
Public | KG - 5
- 4
Hampstead Hill Academy
Public | PK - 8
- 4
The Green School
Public | KG - 5
- 3
Morrell Park Elementary/Middle School
Public | PK - 8
- 3
New Song Academy
Public | PK - 8
- 3
Charles Carroll Barrister Elementary School
Public | PK - 5
- 3
Commodore John Rogers Elementary/Middle School
Public | PK - 8
- 3
Patterson Park Public Charter School
Public | PK - 8
- 4
The Crossroads School
Public | 6 - 8
- 3
Baltimore Leadership School for Young Women
Public | 6 - 12
- 3
Stadium School
Public | 6 - 8
- 2
National Academy Foundation
Public | 6 - 12
- 1
Academy for College and Career Exploration
Public | 6 - 12
- 1
Booker T. Washington Middle School
Public | 6 - 8
- 1
New Hope Academy
Public | 6 - 12
- 1
The Reach! Partnership School
Public | 8 - 12
- 1
Afya Public Charter School
Public | 6 - 8
- 0
Baltimore Montessori Public Charter Middle School
Public | 6 - 8
- 0
Baltimore Design School
Public | 6 - 10
- 0
St Ignatius Loyola Academy
Private | 6 - 8
- 0
Mother Seton Academy
Private | 6 - 8
- 0
Bluford Drew Jemison STEM Academy Middle School
Public | 6 - 8
- 0
Friendship Academy of Science and Technology
Public | 6 - 12
- 8
Baltimore School for the Arts
Public | 9 - 12
- 6
Baltimore City College
Public | 9 - 12
- 5
Paul Laurence Dunbar High School
Public | 9 - 12
- 2
Carver Vocational-Technical High School
Public | 9 - 12
- 2
Augusta Fells Savage Institute of Visual Arts
Public | 9 - 12
- 2
Vivien T. Thomas Medical Arts Academy
Public | 9 - 12
- 1
Frederick Douglass High School
Public | 9 - 12
- 1
Independence School Local I
Public | 9 - 12
- 1
Renaissance Academy
Public | 9 - 12
- 1
Digital Harbor High School
Public | 9 - 12
- 1
Mergenthaler Vocational-Technical High School
Public | 9 - 12
- 1
Heritage High School
Public | 9 - 12
- 0
Baltimore Talent Development
Public | 9 - 12
- 0
Excel Academy @ Francis M. Wood High School
Public | 9 - 12
- 0
The Community School
Private | 9 - 12
- 0
Eager Street Academy
Public | 9 - 12
- 0
St Frances Academy
Private | 9 - 12
- 0
Institute of Notre Dame
Private | 9 - 12
- 0
Achievement Academy @ Harbor City High School
Public | 9 - 12
- 0
Baltimore Antioch Diploma Plus High School
Public | 9 - 12