1214 Eutaw Pl - Apartments FOR SALE


Baltimore, MD 21217- Madison Park
$4,200,000 USD
443-523-6865
1214 Eutaw Pl, Baltimore, MD for Sale
$4,200,000 USD
Apartments - FOR SALE
1/29
null | Request Cap Rate

1214 Eutaw Pl
Baltimore, MD 21217
Madison Park


HIGHLIGHTS

  • Opportunity to Acquire a Gut Renovated Asset in Bolton Hill
  • In-Place Assumable Debt Below Prevailing Market Rates
  • Ability to Further Increase Rental Revenue
  • Excellent Location in Bolton Hill Near Some of Baltimore City's Top Employers

OVERVIEW

Harbor Stone Advisors is pleased to present 1214 Eutaw, a gut renovated asset located in the historic Bolton Hill neighborhood of Baltimore City. Bolton Hill is home to 20 blocks of mostly preserved, historic buildings and numerous monument and parks. Residents of 1214 Eutaw are just a short walk away from University of Maryland Medical Center (UMMC) Midtown Campus, Maryland State Government offices, University of Baltimore, and the Maryland Institute College of Art (MICA). The property features 26 units with a mix of (5) Studios, (16) 1 Br-1 Ba and (3) 2 Br-2 Ba, as well as (2) commercial spaces. The commercial spaces are leased to a spa and hair salon through May 2026 and September 2026 respectively. There is also a surface lot behind the building with six parking spaces. Current ownership completed a comprehensive gut renovation of the property in 2020, leaving minimal deferred maintenance for a new owner. Typical apartment unit features include stainless steel appliance packages, granite countertops, wood cabinets, hardwood flooring, in-unit washer/dryers, and luxury finishes. The opportunity exists for a new owner to organically increase rents at 1214 Eutaw, as well as implement a water reimbursement program upon renewal and/or new lease. The property also has an existing CHAP Tax Credit in-place through the 2030-2031 tax year, offering future savings. 1214 Eutaw has pre-existing debt that can be assumed. The current balance is $3,114,000 with a 3.875% interest rate. The loan matures in July 2050, with rate adjustments in 2030 and 2040.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$126 USD /SF

# OF UNITS

26

PRICE/UNIT

$161,538

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

OR-1

APN/PARCEL ID

11-06-0418-006

ASK ABOUT THIS PROPERTY

Brooks HealyHarbor Stone AdvisorsMore Info
443-523-6865

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Brooks HealyHarbor Stone AdvisorsMore Info
443-523-6865

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