443-523-6865
1923 Ashland Ave, Baltimore, MD for Sale
Apartments - FOR SALE
1/13
null | Request Cap Rate

1923 Ashland Ave
Baltimore, MD 21205
Middle East


HIGHLIGHTS

  • Opportunity to Acquire a Newly Constructed, Fully Occupied Asset in East Baltimore City
  • New Construction Leaves Minimal Deferred Maintenance for a New Owner
  • Steps Away from the Johns Hopkins University Schools of Medicine and Nursing, Bloomberg School of Public Health, and The Johns Hopkins Hospital

OVERVIEW

Harbor Stone Advisors is pleased to present 1923 Ashland, a newly constructed mixed-use asset located in East Baltimore City. 1923 Ashland is in a premier location, just steps away from the Johns Hopkins University Schools of Medicine and Nursing, Bloomberg School of Public Health, and The Johns Hopkins Hospital. The property features 22 units with a mix of (4) 1 Br-1 Ba, (16) 2 Br-1 Ba, (1) 3 Br-2 Ba, and (1) ground floor commercial space. The commercial space is leased to Peter Chang, a Chinese restaurant with 13 locations throughout Washington, DC, Maryland, and Virginia, through June 2033. Peter Chang is a James Beard Award-winning chef who specializes in Szechuan cuisine and is continuing to grow his restaurant empire. The current owner constructed the property in 2022, and the building is NGBS Green certified. Typical residential unit features include stainless steel appliances, wood cabinets, granite countertops, and LVT flooring throughout. The opportunity exists for a new owner to organically increase rents as similar properties nearby are achieving rents at least 15% higher on average. There is also an ability to implement a water reimbursement program for the residential units upon renewal and/or new lease. 1923 Ashland has an existing Enterprise Tax Credit in place for the commercial portion of the building through the 2032-2033 tax year, offering future tax savings for a new owner.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

22

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1923 Ashland

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

BSC

APN/PARCEL ID

07-13-1603-027

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 Policy.