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1214 Eutaw Pl 26 Unit Apartment Building $5,838,000 CAD ($224,538 CAD/Unit) Baltimore, MD 21217

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Investment Highlights

Opportunity to Acquire a Gut Renovated Asset in Bolton Hill
Ability to Further Increase Rental Revenue

In-Place Assumable Debt Below Prevailing Market Rates
Excellent Location in Bolton Hill Near Some of Baltimore City's Top Employers

Executive Summary

Harbor Stone Advisors is pleased to present 1214 Eutaw, a gut renovated asset located in the historic Bolton Hill neighborhood of Baltimore City. Bolton Hill is home to 20 blocks of mostly preserved, historic buildings and numerous monument and parks. Residents of 1214 Eutaw are just a short walk away from University of Maryland Medical Center (UMMC) Midtown Campus, Maryland State Government offices, University of Baltimore, and the Maryland Institute College of Art (MICA).
The property features 26 units with a mix of (5) Studios, (16) 1 Br-1 Ba and (3) 2 Br-2 Ba, as well as (2) commercial spaces. The commercial spaces are leased to a spa and hair salon through May 2026 and September 2026 respectively. There is also a surface lot behind the building with six parking spaces. Current ownership completed a comprehensive gut renovation of the property in 2020, leaving minimal deferred maintenance for a new owner. Typical apartment unit features include stainless steel appliance packages, granite countertops, wood cabinets, hardwood flooring, in-unit washer/dryers, and luxury finishes.
The opportunity exists for a new owner to organically increase rents at 1214 Eutaw, as well as implement a water reimbursement program upon renewal and/or new lease. The property also has an existing CHAP Tax Credit in-place through the 2030-2031 tax year, offering future savings. 1214 Eutaw has pre-existing debt that can be assumed. The current balance is $3,114,000 with a 3.875% interest rate. The loan matures in July 2050, with rate adjustments in 2030 and 2040.

Property Facts

Price	$5,838,000 CAD	Lot Size	0.25 AC
Price Per Unit	$224,538 CAD	Building Size	33,311 SF
Sale Type	Investment	Average Occupancy	100%
No. Units	26	No. Stories	4
Property Type	Multifamily	Year Built/Renovated	1900/2020
Property Subtype	Apartment	Tenancy	Single
Apartment Style	Mid-Rise	Parking Ratio	0.24/1,000 SF
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	OR-1

Price	$5,838,000 CAD
Price Per Unit	$224,538 CAD
Sale Type	Investment
No. Units	26
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Mid-Rise
Building Class	C
Lot Size	0.25 AC
Building Size	33,311 SF
Average Occupancy	100%
No. Stories	4
Year Built/Renovated	1900/2020
Tenancy	Single
Parking Ratio	0.24/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	OR-1