Cathedral Commons Multi-Family FOR SALE


Baltimore, MD - Historic Baltimore
$2,340,000 USD
410-960-3962
, Baltimore, MD for Sale
$2,340,000 USD
Multi-Family - FOR SALE
1/12
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Cathedral Commons
Baltimore, MD
Historic Baltimore


HIGHLIGHTS

  • Opportunity to Acquire a Gut-Renovated Asset in Historic Mount Vernon
  • Minimal Deferred Maintenance and Potential to Increase Rental Revenue
  • Class A Midtown Location; 3 Minute Walk to the Peabody Institute of The Johns Hopkins University

OVERVIEW

Harbor Stone Advisors is pleased to present the opportunity to acquire Cathedral Commons, a fully occupied, gut renovated asset located in Historic Mount Vernon. Residents at Cathedral Commons are just steps away from the arts, culture, nightlife, and dining that Mount Vernon has to offer. Mount Vernon Marketplace, a neighborhood food hall, and the Peabody Institute of The Johns Hopkins University are both a 3 minute walk away from the property. Cathedral Commons features 16 apartments with a mix of (4) Studios and (12) 1 Br-1 Ba. There are also 10 off-street surface parking spaces on-site. Prior ownership completed a gut renovation of the property in 2013 which included unit renovations. Typical apartment unit features consist of white/stainless steel appliances, granite countertops, wood cabinets, hardwood/tile flooring, and in-unit washer/dryers in select units. In addition to interior renovations, prior ownership also updated all mechanical systems and replaced the windows. Current ownership converted the cooking power from gas to electric and replaced all of the ovens. The opportunity exists for a new owner to focus on organic rent growth at Cathedral Commons. Comparable properties nearby are achieving rents $130 higher on average compared to the Subject property.

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.