410-960-3962
707 Nottingham Rd, Baltimore, MD for Sale
Apartments - FOR SALE
1/21
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707 Nottingham Rd
Baltimore, MD 21229
Hunting Ridge


HIGHLIGHTS

  • Opportunity to Acquire a Well-Maintained Garden Asset in SW Baltimore City
  • Ability to Increase Rents at Least 20% Via Light Renovation
  • Excellent Suburban Location Near Baltimore County Line

OVERVIEW

Harbor Stone Advisors is pleased to present Nottingham South, a well-maintained garden apartment community located in Southwest Baltimore City. This exceptional property offers a strategic location, bordering the Baltimore County line and providing seamless access to major transportation arteries including I-70, I-695, and Route 40, ensuring convenient connectivity for residents. The property features 84 apartment units with a mix of (32) Studios, (40) 1 Br- 1 Ba, (11) 2 Br-1 Ba, and (1) 2 Br-2 Ba. In addition to the residential offerings, Nottingham South also features a valuable commercial space, currently leased to a nail salon until February 2028, providing a stable income stream. Residents benefit from an array of on-site amenities designed to enhance their living experience, including a family-friendly playground, ample surface parking, and convenient on-site laundry facilities. Current ownership has completed numerous capital projects over the years including unit renovations, leaving minimal deferred maintenance for a new owner. Typical apartment unit features include white appliances, wood cabinets, formica countertops, updated bathrooms, and hardwood flooring throughout. Beyond individual unit enhancements, the current owner has also invested significantly in the property's infrastructure, replacing all windows, comprehensively overhauling all six boilers, modernizing common areas, and executing essential roof work, among other critical projects. A compelling opportunity exists for a new owner to further elevate the property's appeal and financial performance through strategic interior upgrades. By introducing premium features such as stainless steel appliances, granite countertops, and contemporary hardware and fixtures, a new owner can significantly enhance the resident experience and command higher rental rates. The local market has demonstrated a strong appetite for higher-end renovations, with comparable properties in the vicinity currently achieving rents at least 20% higher on average than Nottingham South. Furthermore, there is an immediate opportunity to optimize utility reimbursements by increasing monthly charges to tenants to more fully cover gas and water expenses. Alternatively, a new owner could explore the installation of individual submeters.

FOR SALE DETAILS

PRICE

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# OF UNITS

85

CAP RATE

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% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Nottingham South

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

70

LAND DETAILS

LAND ACRES

4.83 AC

LAND SF

210,395 SF

ZONING

R-5

APN/PARCEL ID

20-05-7900E-160,20-05-7900E-162,20-05-7900E-164,20-05-7900E-172,20-05-7900E-176

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.