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FAITS SAILLANTS DE L'INVESTISSEMENT
- Opportunity to Acquire a Gut-Renovated Asset in Historic Mount Vernon
- Class A Midtown Location; 3 Minute Walk to the Peabody Institute of The Johns Hopkins University
- Minimal Deferred Maintenance and Potential to Increase Rental Revenue
RÉSUMÉ DE L'ANNONCE
Harbor Stone Advisors is pleased to present the opportunity to acquire Cathedral Commons, a fully occupied, gut renovated asset located in Historic Mount Vernon. Residents at Cathedral Commons are just steps away from the arts, culture, nightlife, and dining that Mount Vernon has to offer. Mount Vernon Marketplace, a neighborhood food hall, and the Peabody Institute of The Johns Hopkins University are both a 3 minute walk away from the property.
Cathedral Commons features 16 apartments with a mix of (4) Studios and (12) 1 Br-1 Ba. There are also 10 off-street surface parking spaces on-site. Prior ownership completed a gut renovation of the property in 2013 which included unit renovations. Typical apartment unit features consist of white/stainless steel appliances, granite countertops, wood cabinets, hardwood/tile flooring, and washer/dryers in select units. In addition to interior renovations, prior ownership also updated all mechanical systems and replaced the windows. Current ownership converted the cooking power from gas to electric and replaced all of the ovens.
The opportunity exists for a new owner to focus on organic rent growth at Cathedral Commons. Comparable properties nearby are achieving rents $130 higher on average compared to the Subject property.
Cathedral Commons features 16 apartments with a mix of (4) Studios and (12) 1 Br-1 Ba. There are also 10 off-street surface parking spaces on-site. Prior ownership completed a gut renovation of the property in 2013 which included unit renovations. Typical apartment unit features consist of white/stainless steel appliances, granite countertops, wood cabinets, hardwood/tile flooring, and washer/dryers in select units. In addition to interior renovations, prior ownership also updated all mechanical systems and replaced the windows. Current ownership converted the cooking power from gas to electric and replaced all of the ovens.
The opportunity exists for a new owner to focus on organic rent growth at Cathedral Commons. Comparable properties nearby are achieving rents $130 higher on average compared to the Subject property.
FAITS SUR LA PROPRIÉTÉ
| Prix | 3 000 111 $ CAD | Nombre de propriétés | 2 |
| Prix/pi² | 162,99 $ CAD / pi² | Individuellement en vente | 0 |
| Type de vente | Investissement | Taille totale du bâtiment | 18 407 pi² |
| Statut | Actif | Superficie totale du terrain | 0,15 AC |
| Prix | 3 000 111 $ CAD |
| Prix/pi² | 162,99 $ CAD / pi² |
| Type de vente | Investissement |
| Statut | Actif |
| Nombre de propriétés | 2 |
| Individuellement en vente | 0 |
| Taille totale du bâtiment | 18 407 pi² |
| Superficie totale du terrain | 0,15 AC |
PROPRIÉTÉS
| NOM DE LA PROPRIÉTÉ/ADRESSE | TYPE DE PROPRIÉTÉ | TAILLE | ANNÉE DE CONSTRUCTION | PRIX INDIVIDUEL |
|---|---|---|---|---|
|
Cathedral Commons
511 Cathedral St, Baltimore, MD 21201 |
Immeuble residentiel | 12 530 pi² | 1900 | - |
|
Cathedral Commons
513 Cathedral St, Baltimore, MD 21201 |
Immeuble residentiel | 5 877 pi² | - | - |
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Cathedral Commons
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