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214 E Biddle St
Baltimore, MD 21202
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Opportunity to Acquire Gut-Renovated Asset in Mount Vernon
- Excellent Location in Mount Vernon; 7 Minute Walk to University of Baltimore Campus
- Multiple Value-Add Possibilities Still Exist For a New Owner
Executive Summary
Harbor Stone Advisors is pleased to present 214 E Biddle, a gut-renovated asset located in Historic Mount Vernon. The property is a 7 minute walk from University of Baltimore and a half mile from UMMC Midtown Campus. 214 E Biddle is also a 10 minute walk to Penn Station, which is under going $150 million worth of renovations over the next several years.
The property features 6 apartments with a unit mix of (1) Studio and (5) 1 Br-1 Ba units. Current ownership completed a comprehensive gut renovation in 2013 which included updating the apartments as well as the plumbing and mechanical systems. Typical unit features include white appliances, formica counter tops, tile/carpet/hardwood floors, and wood cabinets. All but 1 unit are project-based NEDs (Non Elderly Disabled), with the contract expiring in October 2029.
The opportunity exists for a new owner to either renew the NED contract or convert all units to market upon expiration. There is also an ability to perform a light unit renovation upon turn with a suggested scope of updated appliances and modern hardware/fixtures.
The property features 6 apartments with a unit mix of (1) Studio and (5) 1 Br-1 Ba units. Current ownership completed a comprehensive gut renovation in 2013 which included updating the apartments as well as the plumbing and mechanical systems. Typical unit features include white appliances, formica counter tops, tile/carpet/hardwood floors, and wood cabinets. All but 1 unit are project-based NEDs (Non Elderly Disabled), with the contract expiring in October 2029.
The opportunity exists for a new owner to either renew the NED contract or convert all units to market upon expiration. There is also an ability to perform a light unit renovation upon turn with a suggested scope of updated appliances and modern hardware/fixtures.
Property Facts
| Price Per Unit | $139,310 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 7.90% | Building Size | 3,259 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1900/2013 |
| Apartment Style | Low-Rise | ||
| Zoning | OR-2 | ||
| Price Per Unit | $139,310 CAD |
| Sale Type | Investment |
| Cap Rate | 7.90% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,259 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2013 |
| Zoning | OR-2 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Tile Floors
- Hardwood Floors
- Refrigerator
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
- Private Bathroom
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