Harbor Stone Advisors is pleased to present the opportunity to acquire 1521 Park Avenue, a multifamily asset located in the Bolton Hill neighborhood of Baltimore City. 1521 Park Avenue features 5 units with a mix of (1) Studio and (4) 1 Br-1 Ba. Typical unit features consist of white/black/stainless steel appliances, wood cabinets, hard surface countertops, and hardwood/ceramic tile flooring. Bolton Hill is home to 20 blocks of mostly preserved, historic buildings and numerous monuments and parks. Residents of 1521 Park are just a short walk away from Baltimore Penn Station, Maryland Institute College of Art (MICA), and University of Baltimore.
The opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $200 higher compared to the Subject property.