Corner level lot with utilities makes for an ideal development site in the established and popular neighborhood of Hampden-Medfield, in Baltimore City, near I-83 interchange and “The Avenue” shopping district in Hampden. Potential redevelopment as 6 new townhouses or, renovate the existing structure into 2 apartments and build a new 10-unit walk-up apartment building.
A brand new 21st Century public school was just constructed at the other end of this block.
This 1/3 acre site is located in an R6 Zoning District, permitting 9 Units by right with higher density possible with a zoning variance. This development site is in Medfield, one of Baltimore City’s popular and up-and-coming neighborhoods is a rare opportunity.
What You Need To Know About This Hampden-Medfield Land For Sale:
Situated on a mostly level, corner lot, the site has 105′ of frontage along Roland Heights Avenue. City water and sewer connections are already in place. The Church building is leased through 1/31/2022, with the landlord having the right to terminate the rental agreement with two-months notice. The church rental income helps cover carrying costs while going through the pre-development stages. The R6 zoning district allows both townhomes and multi-family, with up to 9 units by right. Woodberry, an adjacent neighborhood, is seeing a dramatic increase in the redevelopment of old industrial lots into new housing, with new townhomes in this market sell from mid-$300 and into the mid-$400’s, 1-bedroom apartments in this market rent as high as $1200/month, with 2-bedrooms as high as $1500/month.
Why This Baltimore City Neighborhood is Perfect for Development:
Nestled 2 minutes from I-83 and the West Cold Spring Metro Station allow your potential home buyers or renters to live in the City, but work outside of City limits. Both Johns Hopkins University and Loyola University are 1 mile away. The newly developed Rotunda, home to MOM’s Organic Market and Starbucks, is less than a mile and offers shopping, food and entertainment. Hampden’s famous “Avenue” offers locals affordable uber’s for nights out on the town. Latest statistics show that Medfield is 75% home owners and 25% renters.
Let’s Take Action:
This development site in Baltimore City is a great place to invest. Call me now to discuss some of the building plans and possibilities. Let’s meet on-site and walk the property and tour the neighborhood together. Access to the Church is available with advanced notice.
Unless and until there is a written Buyer-Broker Agency Agreement signed with a prospective Buyer, then Ben Frederick Realty, Inc., Ben Frederick Realty, Inc. represents the Seller. Please click here to download the Maryland Real Estate Commission form “Understanding Whom Real Estate Agents Represent”.