11-15 E Saratoga St - Apartments FOR SALE


Baltimore, MD 21202- Historic Baltimore
$2,151,000 USD
410-960-3962
11-15 E Saratoga St, Baltimore, MD for Sale
$2,151,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

11-15 E Saratoga St
Baltimore, MD 21202
Historic Baltimore


HIGHLIGHTS

  • Opportunity to Acquire a Gut-Renovated, Landmark Asset in Downtown Baltimore
  • Minimal Deferred Maintenance and Potential to Increase Rental Revenue
  • Excellent Location in Downtown Baltimore; Across the Street from Mercy Medical Center

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,151,000 USD

PRICE/SF

$117 USD /SF

# OF UNITS

20

PRICE/UNIT

$107,550

CAP RATE

Request Cap Rate

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lofts at the Daily Record

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

C-5-DC

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Justin VernerHarbor Stone AdvisorsMore Info
410-960-3962

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Justin VernerHarbor Stone AdvisorsMore Info
410-960-3962

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.