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38-50 W Biddle Baltimore, MD 21201 36 Unité Immeuble d’appartements 6 373 011 $ CAD (177 028 $ CAD/Unité) 8,53% Taux de capitalisation Baltimore, MD 21201
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Faits saillants de l'investissement
- Features 36 Spacious Units with Open Floor Plans
- Ability to Renovate Units and Increase Rents
- Value-Add Opportunity in Historic Mount Vernon?
- Located in Historic Mount Vernon; 3 Minute Walk to University of Baltimore
Résumé de l'annonce
Harbor Stone Advisors is pleased to present Apartments on Biddle, a well-maintained multifamily asset located in Historic Mount Vernon. The property is a 3 minute walk away from The University of Baltimore Campus and the Social Security Administration and just a 6 minute walk away from UMMC Midtown Campus and MICA (Maryland Institute College of Art). 38-50 W Biddle Street is also less than half mile away from Penn Station, which is undergoing $150 million worth of renovations over the next several years.
The property features 36 units with a mix of (9) Studios, (16) 1 Br-1 Ba, (9) 2 Bedrooms and (1) 3 Br-2 Ba, as well as 1 commercial space. The commercial space is leased to a long term commercial tenant through March 2027. Typical unit features consist of white/stainless steel appliances, wood cabinets, formica countertops, and hardwood/plank/carpet flooring. The property also has a surface parking lot behind the building with 12 spaces. Current ownership has completed a handful of capital improvements such as some roof and hot water heater replacements, updated the electric, installed Central HVAC in 5 units, and installed washer/dryers in the majority of units.
Current ownership has renovated 18 units between 2017 and 2025. The opportunity exists for a new owner to renovate the remaining 17 classic units at Apartments on Biddle with a suggested scope of stainless steel appliances, resurfaced countertops, new cabinets, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least 20% higher on average than the Subject property. 38-50 W Biddle Street has pre-existing debt that can be assumed. The current balance is $3,196,595 with a 4.07% interest rate and a maturity date of October 2027.
The property features 36 units with a mix of (9) Studios, (16) 1 Br-1 Ba, (9) 2 Bedrooms and (1) 3 Br-2 Ba, as well as 1 commercial space. The commercial space is leased to a long term commercial tenant through March 2027. Typical unit features consist of white/stainless steel appliances, wood cabinets, formica countertops, and hardwood/plank/carpet flooring. The property also has a surface parking lot behind the building with 12 spaces. Current ownership has completed a handful of capital improvements such as some roof and hot water heater replacements, updated the electric, installed Central HVAC in 5 units, and installed washer/dryers in the majority of units.
Current ownership has renovated 18 units between 2017 and 2025. The opportunity exists for a new owner to renovate the remaining 17 classic units at Apartments on Biddle with a suggested scope of stainless steel appliances, resurfaced countertops, new cabinets, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least 20% higher on average than the Subject property. 38-50 W Biddle Street has pre-existing debt that can be assumed. The current balance is $3,196,595 with a 4.07% interest rate and a maturity date of October 2027.
Faits sur la propriété
| Prix | 6 373 011 $ CAD | Classe d’immeuble | C |
| Prix par unité | 177 028 $ CAD | Taille du lot | 0,26 AC |
| Type de vente | Investissement | Taille du bâtiment | 27 710 pi² |
| Taux de capitalisation | 8,53% | Occupation moyenne | 97% |
| Nombre d’unités | 36 | Nombre d’étages | 4 |
| Type de propriété | Immeuble residentiel | Année de construction/rénovation | 1900/2025 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 0,43/1 000 pi² |
| Style d’appartement | De hauteur moyenne | ||
| Zonage | OR-2 - Office / Residential | ||
| Prix | 6 373 011 $ CAD |
| Prix par unité | 177 028 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 8,53% |
| Nombre d’unités | 36 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De hauteur moyenne |
| Classe d’immeuble | C |
| Taille du lot | 0,26 AC |
| Taille du bâtiment | 27 710 pi² |
| Occupation moyenne | 97% |
| Nombre d’étages | 4 |
| Année de construction/rénovation | 1900/2025 |
| Ratio de stationnement | 0,43/1 000 pi² |
| Zonage | OR-2 - Office / Residential |
Commodités
Commodités des unités
- Climatisation
- Lave-vaisselle
- Laveuse/Sécheuse
- Chauffage
- Ventilateurs de plafond
- Planchers de tuiles
- Cuisine
- Planchers de bois franc
- Réfrigérateur
- Four
- Système de gicleur
- Électroménagers en acier inoxydable
- Fourchette
- Bain/Douche
- Tapis
- Salle à manger
- Plancher de vinyle
- Grandes chambres
Commodités du site
- Accès 24 heures
- Accès contrôlé
- Sans fumée
- Collecte d'ordures - sur rue
- Wi-Fi
- Détecteur de fumée
1 1
Exceptionnellement practicable à pied
100/100
Assez facile d'accès en voiture
50/100
Transports en commun exceptionnels
90/100
Moyennement praticable en vélo
70/100
Impôts fonciers
| Numéros de lot | Évaluation des bâtiments | 2 884 399 $ CAD | |
| Évaluation du terrain | 867 867 $ CAD | Évaluation totale | 3 752 266 $ CAD |
Impôts fonciers
Numéros de lot
Évaluation du terrain
867 867 $ CAD
Évaluation des bâtiments
2 884 399 $ CAD
Évaluation totale
3 752 266 $ CAD
Contacts
-
Johanna Husena -
Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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Vidéos
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38-50 W Biddle Baltimore, MD 21201
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