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FAITS SAILLANTS DE L'INVESTISSEMENT
- 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
RÉSUMÉ DE L'ANNONCE
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.
FAITS SUR LA PROPRIÉTÉ
| Type de vente | Investissement | Taille du lot | 0,12 AC |
| Nombre d’unités | 47 | Taille du bâtiment | 30 404 pi² |
| Type de propriété | Immeuble residentiel | Occupation moyenne | 100% |
| Sous-type de propriété | Appartement | Nombre d’étages | 8 |
| Style d’appartement | De hauteur moyenne | Année de construction | 1903 |
| Classe d’immeuble | B | ||
| Zonage | OR-2 | ||
| Type de vente | Investissement |
| Nombre d’unités | 47 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De hauteur moyenne |
| Classe d’immeuble | B |
| Taille du lot | 0,12 AC |
| Taille du bâtiment | 30 404 pi² |
| Occupation moyenne | 100% |
| Nombre d’étages | 8 |
| Année de construction | 1903 |
| Zonage | OR-2 |
COMMODITÉS
COMMODITÉS DES UNITÉS
- Climatisation
- Lave-vaisselle
- Laveuse/Sécheuse
- Cuisine
- Comptoirs de granit
- Planchers de bois franc
- Réfrigérateur
- Four
- Électroménagers en acier inoxydable
- Bain/Douche
COMMODITÉS DU SITE
- Accès 24 heures
- CVCA contrôlé par le locataire
- Espace de jeu pour animaux de compagnie
- Ascenseur
- Détecteur de fumée
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Walk Score®
Un paradis pour un marcheur (96)
Transit Score®
Un paradis pour conducteur (95)
Bike Score®
Très cyclable (85)
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VIDÉOS
VISITE EXTÉRIEURE 3D MATTERPORT
VISITE 3D MATTERPORT
PHOTOS
VUE DEPUIS LA RUE
RUE
CARTE
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Earl Court | 1301 St Paul St
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