Remarks

Welcome to 637 Washington Blvd, home to the renowned Rachael’s Dowry Bed & Breakfast. This sale offers a rare opportunity to own a thriving commercial property in the heart of Baltimore’s historic Ridgely’s Delight. Built in the late 1700s by the Warner family, this remarkable home is steeped in history, having hosted George and Martha Washington and serving as a documented stop on the Underground Railroad. Today, it stands as Baltimore’s highest-producing bed and breakfast, offering a seamless blend of historical charm and modern amenities.

The main residence features six spacious guest suite spread across three floors above grade, each with a private full bath, ranging from 350 to 600 square feet. The basement houses a semi-commercial kitchen, an additional bedroom, and a full bath. A private courtyard connects the main house to the rear of the property, leading to the historic Button Factory — an early 1800s structure that adds even more character and functionality to the property. The Factory includes a fully independent studio apartment on the main level, currently rented separately, and a 1,200 square foot owner’s residence above, filled with natural light and offering views (and sounds) of Camden Yards, complete with a full kitchen and updated bath.

In total, the property offers eight units, six off-street parking spaces and one attached garage space, all included in the sale, along with the existing license to operate the B&B. In 2024, the business generated $314,000 in gross revenue with just 35% annual occupancy, highlighting the strong potential for growth. At its peak in 2019, occupancy reached 54% before a pandemic-related decline. The B&B attracts repeat tourists, convention guests, history enthusiasts, and sports fans attending nearby Orioles and Ravens games. While Airbnb was briefly tested, the current owner found it inconsistent with the property’s style — though a new owner with short-term rental experience could tap into that revenue stream and integrate the studio apartment into the mix. Owner would be happy to stay on to help run the B&B.

There’s also significant upside for investors considering a residential conversion. The property formerly operated as multi-unit housing and could easily be reconfigured to accommodate up to 10 rental units by adding an additional unit in the main house, and the Factory building. With estimated market rents of $1,500 per month, this conversion would present a strong income-producing asset in one of Baltimore’s most desirable neighborhoods.

This one-of-a-kind property was appraised at $1,378,000 in 2023 and offers both a turn-key hospitality business and flexible investment options, all wrapped in American history.

Details

MLS#: MDBA2164386
Price: $1,400,000

Year Built: 1796

County: BALTIMORE CITY
Subdivision: Ridgely's Delight
Tax Fee: 12176.0