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Earl Court 1301 St Paul St 47 Unit Apartment Building For Sale Baltimore, MD 21202
INVESTMENT HIGHLIGHTS
- Prime Investment Opportunity in Historic Mount Vernon
- Located in Historic Mount Vernon; 3 Minute Walk to University of Baltimore
- Multiple Value-Add Avenues to Maximize Potential Income
EXECUTIVE SUMMARY
Harbor Stone Advisors is pleased to present Earl Court, a meticulously maintained multifamily property situated in the historic Mount Vernon neighborhood. Its prime location offers residents unparalleled convenience, being just a three-minute walk from The University of Baltimore Campus. Additionally, the property is less than a 15-minute walk to major employment centers, including the Social Security Administration and Maryland State Government offices. Earl Court also benefits from its proximity to Penn Station, a mere six-minute walk away, which is currently undergoing a $150 million renovation project slated for completion over the next several years.
The property boasts 47 condo units, comprising (32) 1 Br-1 Ba, (14) 2 Br-1 Ba, and (1) 3 Br-1 Ba. Since acquiring the property, the current owner has invested significantly in capital improvements. In 2019, 90% of the units underwent extensive renovations, now featuring stainless steel appliances, granite countertops, wood cabinets, updated bathrooms LVT flooring, and in-unit washer/dryers in select units. Beyond unit upgrades, the owner has also replaced the roof, central hot water heater, and elevator, and has installed a package locker system. They also updated the building and unit electric to all new 125 amp service with new window mini-split HVAC systems.
A new owner has the opportunity to enhance Earl Court by renovating the remaining four classic units and installing washer/dryers in units currently lacking them. Units with washer/dryers are achieving rental premiums $100 higher on average than units without. The basement area, currently utilized as a maintenance zone, represents another significant opportunity for value creation. This expansive space can be transformed into a valuable tenant amenity, such as a state-of-the-art resident gym, offering a convenient and attractive feature for tenants. Alternatively, it could be converted into secure storage lockers, providing a potential additional revenue stream.
The property boasts 47 condo units, comprising (32) 1 Br-1 Ba, (14) 2 Br-1 Ba, and (1) 3 Br-1 Ba. Since acquiring the property, the current owner has invested significantly in capital improvements. In 2019, 90% of the units underwent extensive renovations, now featuring stainless steel appliances, granite countertops, wood cabinets, updated bathrooms LVT flooring, and in-unit washer/dryers in select units. Beyond unit upgrades, the owner has also replaced the roof, central hot water heater, and elevator, and has installed a package locker system. They also updated the building and unit electric to all new 125 amp service with new window mini-split HVAC systems.
A new owner has the opportunity to enhance Earl Court by renovating the remaining four classic units and installing washer/dryers in units currently lacking them. Units with washer/dryers are achieving rental premiums $100 higher on average than units without. The basement area, currently utilized as a maintenance zone, represents another significant opportunity for value creation. This expansive space can be transformed into a valuable tenant amenity, such as a state-of-the-art resident gym, offering a convenient and attractive feature for tenants. Alternatively, it could be converted into secure storage lockers, providing a potential additional revenue stream.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.12 AC |
| No. Units | 47 | Building Size | 30,404 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 8 |
| Apartment Style | Mid-Rise | Year Built | 1903 |
| Building Class | B | ||
| Zoning | OR-2 | ||
| Sale Type | Investment |
| No. Units | 47 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 30,404 SF |
| Average Occupancy | 100% |
| No. Stories | 8 |
| Year Built | 1903 |
| Zoning | OR-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Elevator
- Smoke Detector
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Walk Score®
Walker's Paradise (96)
Transit Score®
Rider's Paradise (95)
Bike Score®
Very Bikeable (85)
CONTACTS
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Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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Earl Court | 1301 St Paul St
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