410-498-5408
, Baltimore, MD for Sale
Multi-Family - FOR SALE
1/2
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Hillsdale Manor & Forest Glen
Baltimore, MD
West Forest Park


HIGHLIGHTS

  • Attractive Debt: Existing Fannie Mae loan with an interest rate of 3.18% with 7 years of IO (interest only) remaining.
  • Attractive unit Mix: The property offers a majority of 2-bedroom units, comprising 89% of the total, with 64 being townhome units.
  • Safety Priority: A notable feature is the property's 100% lead-free certification, ensuring a safe living environment for all residents.
  • Strong Rent Upside: Currently, rents are positioned 30% below market rates, presenting a strong opportunity for value creation.
  • Modern Amenities: Each unit is equipped with central air conditioning and heating for added comfort and convenience.
  • Utility Efficiency: Gas and electric utilities are separately metered, allowing for transparent billing and efficient utility management.

OVERVIEW

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.

ASK ABOUT THIS PROPERTY

Yaakov KanevskyMidfield RealtyMore Info
410-498-5408

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Yaakov KanevskyMidfield RealtyMore Info
410-498-5408

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