Harbor Stone Advisors is pleased to present the opportunity to acquire 525 N Charles, a fully occupied mixed-use asset located in Historic Mount Vernon. 525 N Charles is a 1-minute walk away from The Peabody Institute of the Johns Hopkins University, a private conservatory and preparatory school, and a 5-minute walk away from Mercy Medical Center.
The property features 5 units with a mix of (1) 1 Br-1 Ba, (2) 2 Br-1 Ba and (2) commercial spaces on the ground floor. The commercial spaces are leased to a body contouring studio, who just renewed through 2026, and a spiritual life coach through 2030. Typical apartment unit features consist of white appliances, wood cabinets, laminate countertops, and tile/hardwood/carpet flooring.
The opportunity exists for a new owner to renovate the 3 residential units with a suggested scope of stainless steel appliances, granite countertops, new cabinets, updated bathrooms, and LVT flooring throughout. Comparable properties nearby are currently achieving rents at least 20% higher on average than the Subject property. There is also an ability to monetize the on-site parking space as the tenants are currently not being charged for parking.