301 E 29th St - Apartments FOR SALE


Baltimore, MD 21218
$850,000 USD
410-960-3962
301 E 29th St, Baltimore, MD for Sale
$850,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

301 E 29th St
Baltimore, MD 21218


HIGHLIGHTS

  • Opportunity to Acquire a Renovated Asset in Charles Village
  • Ability to Organically Increase Rents
  • Half Mile Away from Johns Hopkins University and MedStar Union Memorial Hospital

OVERVIEW

Harbor Stone Advisors is pleased to present Flats at 29th, a renovated multifamily asset located in Charles Village. The property is a 12 minute walk away from Johns Hopkins University (JHU) and MedStar Union Memorial Hospital, two of the top employers in Baltimore City. Flats at 29th is also a 6-minute walk away from a JHU shuttle stop. The JHU Shuttle not only makes stops at the main university campus, but also stops at Penn Station, Johns Hopkins Hospital, and the Peabody Institute of the Johns Hopkins University. The property features 5 apartments with a unit mix of (4) 1 Br-1 Ba and (1) 3 Br-2 Ba. Prior ownership completed a renovation of the building in 2015 which included apartment renovations.Typical unit features consist of stainless steel appliances, wood cabinets, granite countertops, hardwood flooring, and in-unit washer/dryers. The opportunity exists for a new owner to organically increase rents at Flats at 29th, as they are currently under market. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $180 higher on average than the Subject property. There is also an opportunity to implement a water reimbursement program upon renewal and/or new lease.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$353 USD /SF

# OF UNITS

5

PRICE/UNIT

$170,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Flats at 29th Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R-7

APN/PARCEL ID

12-17-3847-092

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.