Centre Street Apartments

Highlights

• Prime Opportunity to Acquire Scale in Historic Mount Vernon
• Features 41 units with a mix of (6) Studios, (26) 1 Bedrooms, (5) 2 Bedrooms, (1) 4 Bedroom, and (3) commercial spaces
• Typical apartment unit features consist of white/stainless steel appliances, wood cabinets, resurfaced countertops, and hardwood/tile/carpet/plank flooring
• All of the units have shared access to a courtyard, and some units have their own private deck
• Current ownership has updated many of the units throughout their ownership with new appliances, flooring, and refreshed bathrooms
• Ability to Stabilize Operations and Organically Increase Rents
• Opportunity exists for a new owner to focus on leasing up the property and organically increase rents
• Comparable properties in the area are achieving rents at least $250 higher on average than the Subject property
• A new owner can also evaluate the possibility of implementing a water reimbursement program upon renewal and/or new lease
• Steps Away from the Peabody Institute of the Johns Hopkins University and Mercy Medical Center
• Ranked a Walker's Paradise by WalkScore
• Easy access to I-83 and Downtown Baltimore
• Major area employers nearby: Mercy Medical Center, University of Maryland Medical Center (UMMC) Midtown Campus, Agora Financial, Social Security Administration
• Major area colleges nearby: the Peabody Institute of the Johns Hopkins University, Maryland Institute College of Art (MICA), University of Baltimore

Attachments

• centrestreetapartments.sharplaunch.com (PDF) opens in new window

Location