410-960-3962
11555 Laurelwalk Dr, Laurel, MD for Sale
Apartments - FOR SALE
1/8
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11555 Laurelwalk Dr
Laurel, MD 20708


HIGHLIGHTS

  • Unique Middle-Market Opportunity to Acquire a Portfolio of 9 Townhomes in Laurel
  • Ability to Substantially Increase Rents
  • Excellent Location in Prince George's County

OVERVIEW

Harbor Stone Advisors is pleased to present Laurelwalk Townhomes, a portfolio of 9 townhomes situated within the same community in Laurel, MD. The property is conveniently located near Route 295 and is within a 12-mile radius of some of the area's top employers such as Fort Meade, NASA Goddard Space Flight Center, and University of Maryland, College Park. Laurelwalk Townhomes consists of (7) 2 Br-2 Ba and (2) 3 Br-2 Ba, and typical unit features include black/stainless steel appliances, wood cabinets, formica countertops, in-unit washer/dryers, and carpet/tile flooring. Current ownership previously renovated all of the units in 2014 and updated the plumbing. The property also has a Housing Assistance Payment (HAP) contract in place through August 2027. Laurelwalk Townhomes presents an opportunity for a new owner to extend the HAP contract and increase rents based on the current cost of living adjustment. The current owner has not increased the rents in over 10 years. A new owner can also evaluate not renewing the HAP contract and lightly renovating all of the units. Suggested renovations include granite countertops and LVT flooring, as well as refreshing the bathrooms. Comparable properties with these features are currently achieving rents at least 15% higher than Laurelwalk. Additionally, a new owner can explore selling the townhomes individually at contract end. The current market indicates strong potential for individual sales, with other two- and three-bedroom townhomes in the community selling for an average of $236,000.

FOR SALE DETAILS

PRICE

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# OF UNITS

9

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Laurelwalk Townhomes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

RMF-20

APN/PARCEL ID

10-4019642,10-4019659,10-4019675,10-4019865,10-4019873,10-4019956,10-4019964,10-4019998,10-4020053

ASK ABOUT THIS PROPERTY

Justin VernerHarbor Stone AdvisorsMore Info
410-960-3962

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Justin VernerHarbor Stone AdvisorsMore Info
410-960-3962

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.