Harbor Stone Advisors is pleased to present the opportunity to acquire the Lofts at Daily Record, a gut renovated asset located in Downtown Baltimore. The property is located across the street from Mercy Medical Center and is less than a mile away from the University of Maryland, Baltimore.
The Lofts at Daily Record features 20 apartments with a mix of (3) Studios, (13) 1 Br-1 Ba, and (4) 2 Br-1 Ba. Prior ownership completed a gut renovation of the property in 2018 which included converting The Daily Record newspaper's former office to luxury-style apartments. Typical apartment unit features include stainless steel appliances, granite countertops, wood cabinets, vinyl plank/tile flooring, and washer/dryers in some units. In addition to the interior renovations, current ownership also updated all mechanical systems.
The opportunity exists for a new owner to focus on organic rent growth at the Lofts at Daily Record. Comparable properties nearby are achieving rents at least $200 higher on average compared to the Subject property.