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Printer's Square Apartments 1312 Guilford Ave 60 Unit Apartment Building For Sale Baltimore, MD 21202
Investment Highlights
- Opportunity to Acquire a Well-Maintained, Stabilized Asset in Historic Mount Vernon.
- Excellent Location in Mount Vernon; 5 Minute Walk to University of Baltimore .
- Potential to Increase Rents Significantly Via Renovation Program.
Executive Summary
Harbor Stone Advisors is pleased to present the opportunity to acquire Printers’ Square Apartments, a well-maintained asset with value-add potential located in Historic Mount Vernon. The property is a 5 minute walk away from the University of Baltimore and is less than a half mile from Penn Station, which is undergoing $150 million worth of renovations over the next several years.
Printers’ Square Apartments features 60 spacious units with a mix of (42) 1 Br-1 Ba and (18) 2 Bedrooms. Property amenities include laundry facilities, a fitness center, courtyard, elevator, and on-site parking. Printers’ Square Apartments was previously a fire house and underwent a conversion to apartments in 2007, and 52% of units were placed in-service under the Section 42 Low Income Housing Tax Credit (LIHTC). Typical unit features include white appliances, wood cabinets, formica countertops, carpet/hardwood/tile flooring, and some in-unit washer dryers. During the conversion, the property also received all new mechanical systems.
Current ownership has updated a handful of units by adding stainless steel appliances, resurfaced countertops, and painted cabinets. The opportunity exists for a new owner to continue this light renovation on the remaining units as well as add in-unit washer/dryers to the units without. Comparable properties nearby are currently achieving rents at least 20% higher than the Subject property. There is also an ability to implement a water reimbursement program upon renewal and/or new lease for market tenants.
Printers’ Square Apartments features 60 spacious units with a mix of (42) 1 Br-1 Ba and (18) 2 Bedrooms. Property amenities include laundry facilities, a fitness center, courtyard, elevator, and on-site parking. Printers’ Square Apartments was previously a fire house and underwent a conversion to apartments in 2007, and 52% of units were placed in-service under the Section 42 Low Income Housing Tax Credit (LIHTC). Typical unit features include white appliances, wood cabinets, formica countertops, carpet/hardwood/tile flooring, and some in-unit washer dryers. During the conversion, the property also received all new mechanical systems.
Current ownership has updated a handful of units by adding stainless steel appliances, resurfaced countertops, and painted cabinets. The opportunity exists for a new owner to continue this light renovation on the remaining units as well as add in-unit washer/dryers to the units without. Comparable properties nearby are currently achieving rents at least 20% higher than the Subject property. There is also an ability to implement a water reimbursement program upon renewal and/or new lease for market tenants.
Property Facts
| Sale Type | Investment | Lot Size | 0.81 AC |
| No. Units | 60 | Building Size | 67,040 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2007 |
| Apartment Style | Garden | Parking Ratio | 0.45/1,000 SF |
| Building Class | B | ||
| Zoning | OR-2 | ||
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.81 AC |
| Building Size | 67,040 SF |
| No. Stories | 3 |
| Year Built | 2007 |
| Parking Ratio | 0.45/1,000 SF |
| Zoning | OR-2 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Washer/Dryer
- Heating
- Kitchen
- High Speed Internet Access
- Tub/Shower
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Security System
- Elevator
- Maintenance on site
Walk Score®
Walker's Paradise (95)
Transit Score®
Rider's Paradise (94)
Bike Score®
Very Bikeable (79)
Property Taxes
| Parcel Numbers | Improvements Assessment | $6,802 CAD | |
| Land Assessment | $874,278 CAD | Total Assessment | $881,079 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$874,278 CAD
Improvements Assessment
$6,802 CAD
Total Assessment
$881,079 CAD
Contacts
-
Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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Printer's Square Apartments | 1312 Guilford Ave
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