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Laurelwalk Townhomes 11555 Laurelwalk Dr 9 Unit Apartment Building For Sale Laurel, MD 20708
Investment Highlights
- Unique Middle-Market Opportunity to Acquire a Portfolio of 9 Townhomes in Laurel
- Excellent Location in Prince George's County
- Ability to Substantially Increase Rents
Executive Summary
Harbor Stone Advisors is pleased to present Laurelwalk Townhomes, a portfolio of 9 townhomes situated within the same community in Laurel, MD. The property is conveniently located near Route 295 and is within a 12-mile radius of some of the area's top employers such as Fort Meade, NASA Goddard Space Flight Center, and University of Maryland, College Park.
Laurelwalk Townhomes consists of (7) 2 Br-2 Ba and (2) 3 Br-2 Ba, and typical unit features include black/stainless steel appliances, wood cabinets, formica countertops, in-unit washer/dryers, and carpet/tile flooring. Current ownership previously renovated all of the units in 2014 and updated the plumbing. The property also has a Housing Assistance Payment (HAP) contract in place through August 2027.
Laurelwalk Townhomes presents an opportunity for a new owner to extend the HAP contract and increase rents based on the current cost of living adjustment. The current owner has not increased the rents in over 10 years. A new owner can also evaluate not renewing the HAP contract and lightly renovating all of the units. Suggested renovations include granite countertops and LVT flooring, as well as refreshing the bathrooms. Comparable properties with these features are currently achieving rents at least 15% higher than Laurelwalk. Additionally, a new owner can explore selling the townhomes individually at contract end. The current market indicates strong potential for individual sales, with other two- and three-bedroom townhomes in the community selling for an average of $236,000.
Laurelwalk Townhomes consists of (7) 2 Br-2 Ba and (2) 3 Br-2 Ba, and typical unit features include black/stainless steel appliances, wood cabinets, formica countertops, in-unit washer/dryers, and carpet/tile flooring. Current ownership previously renovated all of the units in 2014 and updated the plumbing. The property also has a Housing Assistance Payment (HAP) contract in place through August 2027.
Laurelwalk Townhomes presents an opportunity for a new owner to extend the HAP contract and increase rents based on the current cost of living adjustment. The current owner has not increased the rents in over 10 years. A new owner can also evaluate not renewing the HAP contract and lightly renovating all of the units. Suggested renovations include granite countertops and LVT flooring, as well as refreshing the bathrooms. Comparable properties with these features are currently achieving rents at least 15% higher than Laurelwalk. Additionally, a new owner can explore selling the townhomes individually at contract end. The current market indicates strong potential for individual sales, with other two- and three-bedroom townhomes in the community selling for an average of $236,000.
Property Facts
| Sale Type | Investment | Lot Size | 0.90 AC |
| No. Units | 9 | Building Size | 8,225 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Townhome | Year Built/Renovated | 1972/2014 |
| Building Class | C | Parking Ratio | 1.95/1,000 SF |
| Zoning | RMF-20 - Residential | ||
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.90 AC |
| Building Size | 8,225 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2014 |
| Parking Ratio | 1.95/1,000 SF |
| Zoning | RMF-20 - Residential |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $1,071,000 | |
| Land Assessment | $459,000 | Total Assessment | $1,530,000 |
Property Taxes
Parcel Numbers
Land Assessment
$459,000
Improvements Assessment
$1,071,000
Total Assessment
$1,530,000
Contacts
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Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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Laurelwalk Townhomes | 11555 Laurelwalk Dr
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