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Yorkewood Apartments 1100 E Ramblewood Rd 286 Unit Apartment Building $22,150,000 ($77,448/Unit) Baltimore, MD 21239
Investment Highlights
- 286-Unit Value-Add Opportunity | ~10% Unlevered Stabilized Yield
- Minutes from Morgan State University, Towson University, Loyola University Maryland, Johns Hopkins University, and MedStar Good Samaritan Hospital
- 73 renovated rent-ready units and 18 heavy turns, offering a clear path to materially increase occupancy and revenue.
- Large-scale multifamily community with centralized on-site leasing, driving operational efficiency and lower per-unit costs.
- Immediate Lease-Up Upside | 91 Vacant Units
- $3.5M Invested | 154 Units Renovated
Executive Summary
Yorkewood Apartments offers a rare opportunity to acquire a 286-unit value-add community in Northeast Baltimore with upside driven by lease-up and operational improvements.
With a ~$215 rent gap between in-place and market rents, investors can drive revenue while remaining below competing assets. Stabilization over 24 months supports a projected 10.35% pro forma cap rate.
Ownership has invested $3.5M ($19K/unit) into renovations, positioning the next owner to focus on leasing vacancy rather than heavy CapEx. Additional upside includes the potential to convert ~25 lower-level spaces into new units and implement energy efficiency improvements.
The property is located near Morgan State University, Towson University, Loyola University Maryland, Johns Hopkins University, and MedStar Good Samaritan Hospital, along with nearby retail l and convenient access to MTA bus routes.
With a ~$215 rent gap between in-place and market rents, investors can drive revenue while remaining below competing assets. Stabilization over 24 months supports a projected 10.35% pro forma cap rate.
Ownership has invested $3.5M ($19K/unit) into renovations, positioning the next owner to focus on leasing vacancy rather than heavy CapEx. Additional upside includes the potential to convert ~25 lower-level spaces into new units and implement energy efficiency improvements.
The property is located near Morgan State University, Towson University, Loyola University Maryland, Johns Hopkins University, and MedStar Good Samaritan Hospital, along with nearby retail l and convenient access to MTA bus routes.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Miscellaneous
Property Facts
| Price | $22,150,000 | Apartment Style | Garden |
| Price Per Unit | $77,448 | Building Class | C |
| Sale Type | Investment | Lot Size | 5.18 AC |
| No. Units | 286 | Building Size | 465,843 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1948/2024 |
| Zoning | R050 | ||
| Price | $22,150,000 |
| Price Per Unit | $77,448 |
| Sale Type | Investment |
| No. Units | 286 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.18 AC |
| Building Size | 465,843 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1948/2024 |
| Zoning | R050 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Dining Room
- Window Coverings
Site Amenities
- Business Center
- Laundry Facilities
- Playground
- Property Manager on Site
- Package Service
- Recycling
- Storage Space
- Maintenance on site
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 63 | - | 640 - 782 |
| 2+1 | 175 | - | 713 - 782 |
| 3+1 | 48 | - | 963 |
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Moderately walkable
70/100
Fairly drivable
50/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5138A-757 | Improvements Assessment | $6,086,900 |
| Land Assessment | $451,000 | Total Assessment | $6,537,900 |
Property Taxes
Parcel Number
5138A-757
Land Assessment
$451,000
Improvements Assessment
$6,086,900
Total Assessment
$6,537,900
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Yorkewood Apartments | 1100 E Ramblewood Rd
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