St. James Court Apartments

Highlights

• Opportunity to Acquire a Multifamily Asset in Bolton Hill
• - Features 25 large units with a mix of (1) Studio, (6) 1 Br-1 Ba, (14) 2 Br-1 Ba, (2) 3 Br-1 Ba, and (2) carriage homes
• - There is a landscaped courtyard with secured entry that tenants walk through to reach their units and a shared laundry area
• - Typical unit features consist of white appliances, wood cabinets, formica countertops, and hardwood/tile flooring
• Ability to Increase Rents Via Renovation Program
• - Opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms
• - Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $350 higher on average compared to the Subject property
• - Other value add opportunities include evaluating the possibility of implementing a utility reimbursement program upon renewal and/or new lease
• Excellent Location in Bolton Hill
• - Easy access to I-83 and Downtown Baltimore
• - Less than a mile from Penn Station and only an 8-minute walk to the closest light rail station
• - Major area employers/colleges nearby: Maryland Institute College of Art (MICA), University of Baltimore, University of Maryland Medical Center (UMMC) Midtown Campus, Social Security Administration

Location