Midfield Realty is exclusively marketing an exceptional opportunity for prospective General Partners (GPs) to invest and manage Hillside Manor and Forest Glen Apartments, collectively comprising 244 Lead Free units, with existing long-term debt at 3.18%.
The opportunity is for an experienced General Partner to invest $1,000,000 into capital expenditures of the property in order to maximize the rental income and value of the property.
The property is in an exceptional area of Baltimore City, bordering Forest Park golf course and the Baltimore County line with close proximity to major Employers.
The unit mix is extremely attractive with 89% of the unit mix 2BR with a large amount being 2-story row homes. The average rents at the property for a 2BR are $1,000, the opportunity exists to increase these 2BR rents to approx $1,425.
Current ownership removed the majority of the delinquent tenants which benefits the new GP / Manager to ensure a quick turnaround and lease up period.