Contacts
Justin Verner
Harbor Stone Advisors
(410) 960-3962
Brooks Healy
Harbor Stone Advisors
(443) 523-6865
Tom Wohlgemuth
Harbor Stone Advisors
(240) 444-4656
Shana Callahan
Harbor Stone Advisors
Todd Galvin
Harbor Stone Advisors
(410) 575-1861
Property Details
- Property Type Other
- Property Size 17,760 SF
- Units 19
- Year Built 1890
- Date Updated Apr 25, 2024
- Website loftsat344ncharles.sharplaunch.com
344 N. Charles St. | Baltimore, MD 21201
Harbor Stone Advisors is pleased to present the opportunity to acquire The Lofts at 344 N Charles, a gut renovated asset located in Downtown Baltimore. The property is located less than a 5-minute walk away from Mercy Medical Center, one of Baltimore City's top employers, and just steps away from the historic Mt Vernon neighborhood. The Lofts at 344 N Charles features (2) Studios, (12) 1 Br-1 Ba w/Loft, (4) 1 Br-1 Ba, and (1) commercial space. The commercial space is leased to BeMore Empowered through 2027.
Current ownership completed a gut renovation of the building in 2015 which included apartment renovations. Typical unit features consist of stainless steel appliances, granite countertops, wood cabinets, vinyl flooring, and in-unit washer/dryers. In addition to unit upgrades, current ownership completed numerous capital improvements including updating plumbing, electric and mechanical systems, replacement of the roof, and updated the common areas.
With minimal deferred maintenance, a new owner can focus on organically increasing rents. Comparable properties nearby are achieving rents at least $170 higher than the Subject property.
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Highlights
- Opportunity to Acquire a Gut Renovated Asset in Downtown Baltimore
- Features (2) Studios, (12) 1 Br-1 Ba w/Loft, (4) 1 Br-1 Ba, and (1) commercial space
- Commercial space is leased to BeMore Empowered through 2027
- Current ownership completed a gut renovation of the building in 2015 which included apartment renovations, updated plumbing, electric and mechanical systems, replacement of the roof, and updated the common areas
- Additional Value-Add Potential Exists to Further Increase Revenue
- With minimal deferred maintenance, a new owner can focus on organically increasing rents
- Comparable properties nearby are achieving rents at least $170 higher than the Subject property
- Superior Location in Downtown Baltimore; Less Than a 5-Minute Walk Away from Mercy Medical Center
- Ranked a Walker's Paradise by WalkScore, just steps away from retail, dining, and cultural attractions
- Close proximity to Inner Harbor
- Major area employers nearby: Mercy Medical Center, Agora Financial, University Maryland Medical Center (UMMC) Midtown Campus
- Major area colleges nearby: Peabody Institute of the Johns Hopkins University, University of Maryland, Baltimore, University of Baltimore (UB)
Attachments
Getting around
-
99/100
Walk Score ®
-
100/100
Transit Score ®
-
66/100
Bike Score ®
Location
- City Baltimore, MD
- Neighborhood Downtown Baltimore
- Zip Code 21201
- Market Baltimore
Points of Interest
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Lexington Market
0.24 miles
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Lexington Market
0.29 miles
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Centre Street
0.30 miles
-
Charles Center
0.31 miles
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Baltimore Arena
0.41 miles
-
Shot Tower
0.59 miles
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Shot Tower/Market Place
0.59 miles
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Convention Center
0.60 miles
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State Center
0.66 miles
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Cultural Center
0.72 miles
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Gulf
0.35 miles
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Exxon
0.42 miles
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ChargePoint
0.43 miles
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BP
0.78 miles
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Sunoco
0.78 miles
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BP
0.88 miles
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Maryland Science Center
0.92 miles
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Mystik
1.05 miles
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Marathon
1.11 miles
-
BP
1.21 miles
-
15 W. Franklin Street Garage
0.06 miles
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210 St Paul Place Garage
0.17 miles
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McAuley Garage
0.19 miles
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The Weinberg Garage
0.20 miles
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The Bunting Garage
0.21 miles
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MAPS Employee Parking
0.26 miles
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601 N Calvert Street Garage
0.27 miles
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SP+
0.27 miles
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Lot C
0.29 miles
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Fallsway Impound Lot
0.30 miles
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Hostelling International
0.04 miles
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Home2 Suites
0.06 miles
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Hotel Indigo
0.10 miles
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La Quinta Inn & Suites by Wyndham Baltimore Downtown
0.15 miles
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Embassy Suites
0.15 miles
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Quality Inn
0.22 miles
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La Quinta
0.23 miles
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Revival Baltimore
0.24 miles
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Hotel Monaco Baltimore
0.29 miles
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Lord Baltimore Hotel
0.30 miles
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Streets Market & Cafe
0.12 miles
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Charles Plaza
0.13 miles
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Eddie's of Mount Vernon
0.48 miles
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The Gallery at Harborplace
0.52 miles
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Pratt Street Pavilion (Harbor Place)
0.60 miles
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Light Street Pavilion (Harbor Place)
0.65 miles
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Save-A-Lot
0.79 miles
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OK Market & Deli
0.88 miles
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Harlem Grocery
0.96 miles
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O K Groceries
1.13 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
