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923 1st, 
Brooklyn, MD 21225

$89,474


2

Beds


Bath


1,104

Sq Ft


Multi-Family

Active

Listed by

Menachem M. Dalfin

Midfield Realty

Last updated:

September 22, 2025, 01:33 PM

MLS#

MDAA2125366

Source:

BRIGHTMLS

About This Home

923 1st

This 10-property, 19-unit portfolio in Anne Arundel County is being brought to market at $89,473 per unit, approximately 11% below the area’s average sales price of $100,217 per unit. The portfolio generates a strong day-one cap rate of 7.26%, with a clear path to a stabilized cap rate of 11.4% through strategic rent increases and modest unit improvements. Current average rents across the portfolio are approximately $1,000 per unit, while market rents in the area average $1,400, presenting an immediate $500/month per unit income upside. Once stabilized at market rents, the portfolio has the potential to achieve a cap rate of approximately 11.4%, making this a compelling opportunity for investors see This 10-property, 19-unit portfolio in Anne Arundel County presents an exceptional investment opportunity with a mix of 2–3 bedroom brick duplexes and a rowhome, all featuring basements and efficient layouts perfect for rental income. The units are largely move-in ready, boasting updated kitchens with granite countertops and hardwood flooring for modern appeal. Most include refrigerators and ranges, while 2 units offer the added convenience having washer and dryer. Heating is reliably provided by gas furnaces, with 10 units also equipped with baseboard heaters for extra comfort. Cooling solutions vary, with 10 units featuring window or portable AC and 3 units utilizing radiator systems. Each unit benefits from separately metered utilities serviced by BGE and public water/sewer, simplifying management. Ideal for investors seeking a low-maintenance, high-demand portfolio, this collection combines charm, functionality, and strong income potential in a thriving location. Anne Arundel County is home to approximately 597,052 residents as of 2025. The county features a variety of local retail centers and shops, including the redeveloped Annapolis Mall, where significant investment is underway—replacing the former JCPenney space with new tenants like OneLife Fitness and a supermarket. Nearby developments include major mixed-use projects in Odenton Town Center, such as the “Blue Oaks at North Odenton” apartments, Meade Center’s retail and office spaces, and new Starbucks and Wawa locations, as well as a large MARC parking garage currently under construction. Educational attainment is strong, with 45.2% of residents aged 25 and over holding at least a bachelor’s degree. Major employers include Fort George G. Meade (over 64,000 employees), Anne Arundel County Public Schools ( 15,794), the State of Maryland ( 11,584), and BWI Thurgood Marshall Airport ( 10,000 jobs). Local transit options are robust, with BWI Thurgood Marshall Airport, Amtrak, MARC commuter rail, MTA light rail, commuter buses, and the Anne Arundel Connector. The area is also served by major highways and shuttle services, providing efficient access throughout the county and beyond. This property is part of a portfolio sale10 properties and a total of 19 Units Total Selling Price: $1,700,000.00 4931 BROOKWOOD RD. BALTIMORE 21225 4946 BROOKWOOD RD. BALTIMORE 21225 5201 BROOKWOOD RD. BALTIMORE 21225 5210 BROOKWOOD RD. BALTIMORE 2122 5906 1ST ST. BALTIMORE 21225 912 1ST ST. BALTIMORE 21225 915 1ST ST. BALTIMORE 21225 923 1ST ST. BALTIMORE 21225 942 1ST ST. BALTIMORE 21225 907 VICTORY AVE. BALTIMORE 21225

Home Facts

Multi-Family

2 Bedrooms

Built in 1948

Price Summary

89,474

$81 per Sq. Ft.

MLS #:

MDAA2125366

Last Updated:

September 22, 2025, 01:33 PM

Added:

19 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

2


Structure

Structure

Building Area:

1,104 Sq. Ft.

Year Built:

1948


Finances & Disclosures

Finances

Price:

$89,474

Price per Sq. Ft:

$81 per Sq. Ft.

Source:BRIGHTMLS
The information being provided by Bright MLS is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Bright MLS All rights reserved.

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