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Listed by Matthew S Cooper • Alex Cooper Auctioneers, Inc.
$ 700,000
Est. payment /mo
New
509 S WASHINGTON ST Baltimore, MD 21231
6,447 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision Fells Point Historic District
MLS Listing ID MDBA2190550
HOA Y/N N
Annual Tax Amount $4,418
Tax Year 2025
Lot Size 6,447 Sqft
Acres 0.15
Property Sub-Type Land
Source BRIGHT
Property Description
List price is Opening Bid at the Online auction to be conducted on Auctioneers website. Auction Begins Thursday December 4 Auction ends Tuesday December 9 @ 11:00 am. Rare opportunity to acquire a fully entitled, permit-ready multifamily development site located at the nexus of Fells Point and Canton—two of Baltimore's most desirable and vibrant waterfront neighborhoods. The offering includes 509 S Washington St. and adjacent Lots 55, 55G, and 55H on Duker St., totaling 6,447+/- SF of land with C-1 zoning allowing for 33 apartment units by right. The permit in hand development encompasses approximately 26,500+/- SF of gross floor area across 33 units and has received CHAP Part 1 approval, confirming compliance for height, setbacks, massing, and scale. Additionally, the Baltimore City Site Plan Review has been completed and approved, allowing for expedited development. This project qualifies for the Baltimore Development Corporation's High-Performance Market-Rate Rental Housing Tax Credit—a 10-year incentive offering an 80% abatement on the increased assessed value from improvements during the first five years, tapering by 10% annually through Year 10. The property meets eligibility criteria including a minimum of 20 units and a LEED Silver certification or higher. Investment Potential: This is a rare chance to deliver a mid-sized, boutique multifamily product in one of Baltimore's most in-demand neighborhoods. The project's scale allows developers to position rental rates below those of larger institutional assets nearby, catering to a high-demand segment of the rental market while benefiting from long-term tax incentives and immediate development feasibility
Location
State MD
County Baltimore City
Zoning C-1
Exterior
Water Access N
Garage N
Building
Sewer Public Sewer
Water Public
Schools
School District Baltimore City Public Schools
Others
Tax ID 0302071783 040
Ownership Fee Simple
Special Listing Condition Auction
