Recently sold over 170 Baltimore Multifamily Properties
The Professional Building at 330 N Charles St for $3,700,000, or $137,037 per unit. This 27-unit building was gut renovated in 2006 and features 25 apartments and 2 street level retail spaces. The asset ultimately sold to a West Coast buyer who is continuing to expand their Downtown Baltimore portfolio.
Brooke Court Apartment in North Baltimore sold for $2,555,000, or $127,750 per unit. This 20-unit complex is solely comprised of two bedroom, two bathroom units. Brooke Court features a unique blend of a stabilized product in a solid, suburban location while still retaining value add upside.
16 E BiddlE
Apartments at 16 East Biddle in Mt Vernon sold for $2,240,000, or $149,333 per unit. This 15-unit building was gut renovated in 2013 and features a 10 year CHAP tax credit. The asset saw multiple offers in a short time span and was ultimately sold in an all cash transaction to a Washington D.C. based group.
This 26-unit multifamily asset was subject to a number of recent updates and purchased by a Virginia-based private investor for $1,500,000. The recent and projected influx of jobs to Dundalk and the ability to garner a higher yield than the Virgina marketplace attracted the out of town buyer.
Westchester Garden Apartments
Westchester Gardens Apartments at 4506 Westchester Road in Northwest Baltimore sold for $2,650,00, or $57,609 per unit. This 46-unit property marks yet another out of area buyer seeking higher yields in the Baltimore marketplace. The buyer was attracted to the suburban style setting and value add potential.
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This 20-bed student housing asset, fully leased through summer 2017, was purchased by a local investor for $1.46M. It sits just a short driving distance to Loyola and Towson Universities. This was truly a unique opportunity to purchase a mid-sized, recently constructed student housing asset with a record 100% occupancy.