937-939 N Calvert St

937-939 North Calvert is located within the Mount Vernon neighborhood in Baltimore City, one of the city’s oldest neighborhoods littered with museums, theaters, libraries, boutique shops and cafes. The subject property is five minutes away from Maryland Institute College of Art (MICA), one of the country’s premier art schools. In addition, University of Baltimore is two minutes away from the property. The property is just minutes away from the historic Bolton Hill neighborhood, which features significant landmarks such as the former home of author F. Scott Fitzgerald, and the Francis Scott Key monument. Walkability is the name of the game and the property is within walking distance of a plethora of retail and entertainment. This historic neighborhood features attractions like the Washington Monument, Walters Art Museum, and the George Peabody Library. Top eateries include the Prime Rib, Restaurante Tio Pepe, and Sotto Sopra. Nearby live entertainment venues include Baltimore Symphony Orchestra, The Lyric, and Baltimore Center Stage. The property is a 15-minute walk from Baltimore’s historic Penn Station, While Amtrak recently ended its partnership with the private developer originally selected for the station’s broader redevelopment, the rail company has stated that it remains committed to advancing improvements at Penn Station and is currently coordinating with the Federal Railroad Administration on a phased renovation strategy.. Penn Station offers convenient access to public transportation, with access to Amtrak trains and the MARC commuter train to Washington, D.C. Additionally, the property is less than a half-mile from the nearest LightRail Station, which provides direct access north to Hunt Valley and south to BWI Airport. The nearest Subway Station, which provides direct access to Johns Hopkins Hospital (30,000 employees), is less than two mile away.Harbor Stone Advisors is pleased to present 937-939 N Calvert, a prime rehab opportunity located in Historic Mount Vernon. The property is less than a 10-minute walk from the University of Baltimore and the Peabody Institute of The Johns Hopkins University, and a half mile from UMMC Midtown Campus. 9397-939 N Calvert is also a 14-minute walk from Penn Station, which is undergoing $150 million worth of renovations over the next several years. 937 N Calvert features 6 apartments with a mix of (5) 1 Br-1 Ba and (1) 2 Br-1 Ba. Typical unit features consist of white appliances, wood cabinets, laminate countertops, and laminate/parquet/tile flooring. 939 N Calvert features (6) 1 Br-1 Ba apartments in shell condition. The opportunity exists for a new owner to renovate all of the units at 937 N Calvert and build out the units at 939 N Calvert, with a suggested scope of stainless steel appliances, granite countertops, updated cabinets and bathrooms, and LVT flooring throughout. Based on comparable properties nearby, the rents at 937 N Calvert can be increased at least 20% post renovation. The work performed at 939 N Calvert would also be eligible for the 10 year CHAP tax credit.