Mt Vernon Portfolio FOR SALE


Baltimore, MD - Charles Village
$2,999,995 USD
410-498-5408
, Baltimore, MD for Sale
$2,999,995 USD
FOR SALE
1/13
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Mt Vernon Portfolio
Baltimore, MD
Charles Village


HIGHLIGHTS

  • Diverse income stream with 16 total units, including 15 residential apartments and one leased commercial space.
  • Immediate cash flow with 70% occupancy and significant upside through lease-up to full stabilization.
  • Projected 10.74% cap rate upon execution of the business plan, offering compelling investment returns.
  • Modern unit features include central A/C, hardwood floors, granite countertops, and in-unit laundry in select apartments.
  • Prime location near major employers such as Johns Hopkins University, MedStar Union Memorial Hospital, and UMMC Midtown Campus.
  • Excellent transit access with proximity to Amtrak Penn Station and multiple CityLink and LocalLink routes.

OVERVIEW

The Mt. Vernon Portfolio is offered at $2,999,995, representing an 8.99% going-in cap rate based on a T-12 NOI of approximately $269,000. Current average rents of $850/unit are well below the submarket average of roughly $1,200/unit, creating clear value-add upside. A key highlight is the attractive assumable debt, including a $1,875,000 loan at 3.75% with the option to add a $650,000 supplemental loan at 6.50%, for a combined loan balance of $2,525,000. This creates a blended rate of approximately 4.46%, 84% LTV, and a projected 19.78% takeover cash-on-cash return. Pro forma rents of approximately $1,270/unit support a projected Year-1 NOI of ~$287,000, a 9.58% pro forma cap rate, and ~22.93% cash-on-cash return, with additional upside from laundry income and converting the vacant Maryland Avenue unit. The portfolio is located in a prime Mt. Vernon corridor near major dining, cultural, educational, medical, and transit anchors, including Lexington Market, the Walters Art Museum, Peabody Institute, UMMC Midtown, University of Maryland Baltimore, Johns Hopkins, Light RailLink, Metro SubwayLink, CityLink routes, and the Charm City Circulator.

ASK ABOUT THIS PROPERTY

Yaakov KanevskyMidfield RealtyMore Info
410-498-5408

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Yaakov KanevskyMidfield RealtyMore Info
410-498-5408

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