2300 N Calvert St - Apartments FOR SALE


Baltimore, MD 21218- Barclay
$1,950,000 USD
240-444-4656
2300 N Calvert St, Baltimore, MD for Sale
$1,950,000 USD
Apartments - FOR SALE
1/14
null | 7.03% Cap Rate

2300 N Calvert St
Baltimore, MD 21218
Barclay


HIGHLIGHTS

  • Opportunity to Acquire 15 Spacious, Previously Gut-Renovated Units in Old Goucher
  • Ability to Create Value and Increase Rents Via Renovation Program
  • Excellent Location in Old Goucher; 1 Mile Away from the Johns Hopkins University

OVERVIEW

Harbor Stone Advisors is pleased to present 2300 North Calvert Apartments, a well-maintained multifamily asset located in the Old Goucher neighborhood of Baltimore City. The property is located one mile away from the John Hopkins University, one of the most prestigious universities in the country. 2300 North Calvert Apartments is also a short walk away from multiple JHU shuttle stops. The JHU Shuttle not only makes stops at the main university campus, but also stops at Penn Station, Johns Hopkins Hospital, and the Peabody Institute of the Johns Hopkins University. The property features 15 spacious apartments with a unit mix of (4) 1 Br-1 Ba and (11) 2 Br-2 Ba. The property underwent a gut renovation in 2013 and were originally created as condos. Typical unit features consist of white appliances, wood cabinets, formica countertops, carpet/tile flooring, and in-unit washer/dryers. 2300 North Calvert Apartments also has 14 surface parking spaces. The opportunity exists for a new owner to renovate all of the units at 2300 North Calvert with a suggested scope of stainless steel appliances, granite countertops, updated bathrooms, and LVT flooring. The market is accepting of higher-end renovations and comparable properties nearby are currently achieving rents at least 15% higher on average than the Subject property. A new owner can also implement a charge for parking as it is currently not monetized.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$79 USD /SF

# OF UNITS

15

PRICE/UNIT

$130,000

CAP RATE

7.03%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2300 North Calvert

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

OR-2

APN/PARCEL ID

12-06-3821-020,12-06-3821-023

ASK ABOUT THIS PROPERTY

Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

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Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

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