201 Mansion Dr - Apartments FOR SALE


Perryville, MD 21903
$750,000 USD
240-444-4656
201 Mansion Dr, Perryville, MD for Sale
$750,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

201 Mansion Dr
Perryville, MD 21903


HIGHLIGHTS

  • Unique Opportunity to Acquire a Renovated Asset in Perryville, MD
  • Ability to Increase Rents Via Mid-Term or Conventional Rental Model
  • Excellent Location in Cecil County

OVERVIEW

Harbor Stone Advisors is pleased to present the unique opportunity to acquire 201 Mansion Dr., a renovated multifamily asset located in Perryville, Maryland. Located near the Susquehanna River, the property is less than a 10 minute drive away from Hollywood Casino and Great Wolf Lodge, two of the area's main attractions. 201 Mansion Dr. is also a 5 minute drive from the Perryville MARC Train Station, allowing convenient access to Baltimore and Washington, DC. 201 Mansion Dr. features 5 large, furnished units with a mix of (2) 1 Bedrooms and (3) 2 Bedrooms. Current ownership completed a renovation of the property in 2024 which included apartment updates and new mechanical and electrical systems. Typical unit features consist of white appliances, granite countertops, hardwood and tile flooring, and high-end finishes. The property currently operates as a mid-term rental, with tenants typically staying for at least 30 days, and has generated more than $100,000 in rental revenue over the last 12 months. The opportunity exists for a new owner to continue running the asset as a mid-term rental with the ability to increase the nightly rate by at least $35 based on similar assets nearby. There is also an ability for a new owner to operate the building as conventional apartments, rent out the owner's unit, and perform a light upgrade with a suggested scope of stainless steel appliances, and in-unit washer/dryers in units 1A and 2C.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$191 USD /SF

# OF UNITS

5

PRICE/UNIT

$150,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

R3

APN/PARCEL ID

07-034458

ASK ABOUT THIS PROPERTY

Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

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

Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

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