814 Park 814 Park Ave Immeuble residentiel 11 lots 1 121 120 € (101 920 €/Lot) Baltimore, MD 21201
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INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- Prime Value-Add Opportunity in Historic Mount Vernon
- Located in Historic Mount Vernon; Blocks Away From UMMC Midtown Campus
- Ability to Create Value and Increase Rents Through a Renovation Program
RÉSUMÉ ANALYTIQUE
Harbor Stone Advisors is pleased to offer 814 Park, a multifamily asset with value-add opportunity in Historic Mount Vernon. The property is just blocks away from the University of Maryland Medical Center (UMMC) Midtown Campus and a 7 minute walk away from the Peabody Institute of The Johns Hopkins University.
814 Park features 11 units with a mix of (4) Studios and (7) 1 Br-1 Ba. There is also a parking pad with room for 4 cars located behind the building. Typical apartment unit features include white appliances, granite countertops, wood cabinets, and hardwood/ceramic tile/vinyl flooring.
The opportunity exists for a new owner to lightly renovate all of the units with a suggested scope of stainless steel appliances, modern hardware/fixtures, and plank flooring throughout. Properties of similar vintage in the area that have undergone renovations of a comparable scope are achieving rents at least 15% higher on average than the Subject property. There is also an ability to cut the central boiler and install HVAC systems, making the gas a direct tenant expense and offering significant expense savings to a new owner. Other value-add opportunities include implementing a water reimbursement program for all units upon renewal and/or new lease and monetizing the parking, as off-street parking is a highly sought after amenity for city living. There is also potential to create 4 additional parking spaces behind the building where a garage was torn down, allowing for an increase of parking income.
814 Park features 11 units with a mix of (4) Studios and (7) 1 Br-1 Ba. There is also a parking pad with room for 4 cars located behind the building. Typical apartment unit features include white appliances, granite countertops, wood cabinets, and hardwood/ceramic tile/vinyl flooring.
The opportunity exists for a new owner to lightly renovate all of the units with a suggested scope of stainless steel appliances, modern hardware/fixtures, and plank flooring throughout. Properties of similar vintage in the area that have undergone renovations of a comparable scope are achieving rents at least 15% higher on average than the Subject property. There is also an ability to cut the central boiler and install HVAC systems, making the gas a direct tenant expense and offering significant expense savings to a new owner. Other value-add opportunities include implementing a water reimbursement program for all units upon renewal and/or new lease and monetizing the parking, as off-street parking is a highly sought after amenity for city living. There is also potential to create 4 additional parking spaces behind the building where a garage was torn down, allowing for an increase of parking income.
INFORMATIONS SUR L’IMMEUBLE
| Prix | 1 121 120 € |
| Prix par lot | 101 920 € |
| Type de vente | Investissement |
| Nb de lots | 11 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Surface du lot | 0,05 ha |
| Surface de l’immeuble | 347 m² |
| Occupation moyenne | 91% |
| Nb d’étages | 3 |
| Année de construction | 1900 |
| Zonage | OR-2 |
CARACTÉRISTIQUES
CARACTÉRISTIQUES DU LOT
- Climatisation
- Lave-vaisselle
- Micro-ondes
- Chauffage
- Sols carrelés
- Cuisine
- Plans de travail en granit
- Planchers en bois
- Réfrigérateur
- Four
- Baignoire/Douche
- Congélateur
- Sol en vinyle
CARACTÉRISTIQUES DU SITE
- Laverie
1 of 1
Walk Score®
Idéal pour les promeneurs (99)
Transit Score®
Un paradis pour l’usager (100)
Bike Score®
Très praticable en vélo (88)
TAXES FONCIÈRES
| Numéro de parcelle | 0509-015 | Évaluation des aménagements | 797 548 € |
| Évaluation du terrain | 91 069 € | Évaluation totale | 888 617 € |
