214 E Biddle St - Apartments FOR SALE


Baltimore, MD 21202- Midtown Baltimore
$600,000 USD
410-960-3962
214 E Biddle St, Baltimore, MD for Sale
$600,000 USD
Apartments - FOR SALE
1/10
null | 7.9% Cap Rate

214 E Biddle St
Baltimore, MD 21202
Midtown Baltimore


HIGHLIGHTS

  • Opportunity to Acquire Gut-Renovated Asset in Mount Vernon
  • Multiple Value-Add Possibilities Still Exist For a New Owner
  • Excellent Location in Mount Vernon; 7 Minute Walk to University of Baltimore Campus

OVERVIEW

Harbor Stone Advisors is pleased to present 214 E Biddle, a gut-renovated asset located in Historic Mount Vernon. The property is a 7 minute walk from University of Baltimore and a half mile from UMMC Midtown Campus. 214 E Biddle is also a 10 minute walk to Penn Station, which is under going $150 million worth of renovations over the next several years. The property features 6 apartments with a unit mix of (1) Studio and (5) 1 Br-1 Ba units. Current ownership completed a comprehensive gut renovation in 2013 which included updating the apartments as well as the plumbing and mechanical systems. Typical unit features include white appliances, formica counter tops, tile/carpet/hardwood floors, and wood cabinets. All but 1 unit are project-based NEDs (Non Elderly Disabled), with the contract expiring in October 2029. The opportunity exists for a new owner to either renew the NED contract or convert all units to market upon expiration. There is also an ability to perform a light unit renovation upon turn with a suggested scope of updated appliances and modern hardware/fixtures.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$131 USD /SF

# OF UNITS

6

PRICE/UNIT

$100,000

CAP RATE

7.9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,699 SF

ZONING

OR-2

APN/PARCEL ID

11-01-0486-007

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 Notice.