The stuff Danofre is speaking of is a waterproofing cement. Thoroseal is mixed with Acryl 60 to improve bond and physical properties of the admixture. Although I doubt Depot will have the full range, Thoroseal is available in white, gray, pearl gray, and 10 other stock colors. This is but one of the many specialty cementitious repair and rehab products marketed under the ThoroŽ brand. They and ConprocoŽ produce top shelf stuff that have always worked well for me. Your best bet is to go to a masonry supply house and explain the situation. One of the guys behind the counter was probably a brickie before you were born, and they can tell you which specialty product will solve your problem and give you the look you want.
Going back to your OP, I sandblasted the brick half wall on my first house to get rid of the paint on it. After that, I repointed the joints and sealed it with a clear water repellant. I've forgotten the name of that product, but it was a liquid which was applied using a pump tank. It looked good then, and has weathered well (~15 years).
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