Mt Vernon Portfolio

Financial Upside

This 31-unit asset offers strong fundamentals with assumable debt at 3.75% interest, significantly below today’s 6.5%+ market rates, and approximately 7 years remaining on the loan. The current financing includes a $1.875M balance amortized over 25 years, with annual debt service of just $115,680. On day one, the asset delivers a 7% cap rate, with clear upside to reach 10% through a value-add strategy. Additional income can be generated by renovating the gutted unit at 2200 Maryland Ave, bringing it back online. Further upside includes raising rents to market averages of $1,133 for studios and $1,360 for one-bedrooms, and installing shared laundry in each building, projected to add $3,224 annually. This is a rare opportunity to secure stable cash flow and long-term value in a well-located, income-producing property.

Location Upside

The Mt. Vernon properties are ideally located in a high-traffic area, benefiting from a vibrant mix of educational, cultural, and commercial activity. They are within walking distance of major local landmarks and thriving businesses such as Wendy's, Burger King, Blackwall Hitch, Papillon's, HomeSlyce, Connie's Chicken and Waffles, Lexington Market, Walters Art Museum, Peabody Institute of Johns Hopkins, UMMC Midtown Campus, University of Maryland Baltimore, Johns Hopkins Hospital, and Baltimore's largest current development, the Inner Harbor. Public transportation options are abundant, with the Mount Vernon Light RailLink station just a few minutes away, providing easy access to key destinations throughout the city. The Lexington Market Metro SubwayLink station is also nearby, connecting residents to areas like Johns Hopkins and the Inner Harbor. Several city bus routes, including CityLink Green, CityLink Pink, CityLink Silver, and CityLink Yellow, provide extensive connectivity, while local routes like 51, 94, and 702 offer convenient access to nearby neighborhoods. The Charm City Circulator Purple Route, which stops nearby, offers free service to major attractions and business districts. 2200 Maryland Ave is at the heart of a vibrant social scene, with popular venues like Ibar, Fadensonnen, No Land Beyond, W.C. Harlan, Dutch Courage, Baltimore Eagle, Showroom, and the Club Car just around the corner. The property is also near UMMC Midtown Campus, MICA, and Johns Hopkins

Property Upside

1303 N Calvert St, Baltimore, MD 21202

This 9-unit property features a unique layout with 8 studios and 1 one-bedroom apartment, offering flexibility to meet demand for compact urban living. The property showcases a blend of vintage and updated finishes, including painted wood floors and vintage metal cabinets alongside modern cabinetry. The basement, which houses the water tank and furnace, contributes to easier maintenance and utility access. Security features include an intercom door buzzer system, deadbolts, and peepholes. With its varied finishes and foundational infrastructure already in place, there's strong upside through targeted unit modernization and design unification.

1323 N Calvert St, Baltimore, MD 21202

Comprising 8 units—five 1-bedrooms, one 2-bedroom, and one or two potential office conversions—this building features a mix of flooring types, including red oak and LVT. The interior boasts rich character, with preserved moldings and antique mantels, which provide a compelling basis for high-end aesthetic upgrades. The English basement adds utility and possible future reconfiguration options. With enhanced security systems like an intercom/door buzzer and durable locks, the building is well-positioned for value-add improvements that enhance both appeal and safety.

2200 Maryland Ave, Baltimore, MD 21218

This 13-unit property, with potential for a 14th unit, consists of 6 one-bedrooms and 7 studio apartments