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Saratoga Lofts 125 W Saratoga St 19 Unit Apartment Building For Sale Baltimore, MD 21201
Investment Highlights
- Opportunity to Acquire a Luxury Asset in Downtown Baltimore City
- Value Add Potential via Organic Rent Growth and Reimbursements
- Historic Renovation with Condo-Grade Finishes
- Excellent Location in Downtown Baltimore
Executive Summary
Harbor Stone Advisors is pleased to present Saratoga Lofts, a gut-renovated luxury asset located in Downtown Baltimore City. The property is conveniently situated within a 10-minute walk of three major local employers: Mercy Medical Center, University of Maryland Medical Center (UMMC), and UMMC Midtown Campus.
The building comprises 19 spacious apartments, featuring a mix of (5) one-bedroom and (14) two-bedroom units. Most units are bi-level layouts and include private balconies. Originally converted from a church in 2015 with a condo-grade design, the property has undergone a comprehensive renovation. Typical unit finishes include stainless steel appliances, granite countertops, wood cabinetry, hardwood/tile/carpet flooring, and in-unit washer/ dryers. Residents also benefit from unique amenities for a property of this size, including a fitness room with a sauna, a storage room, and a gated surface parking lot with 8 spaces.
The opportunity exists for a new owner to organically increase rents at Saratoga Lofts. Furthermore, there is significant potential to expand the existing water reimbursement program; currently, only a few units participate, allowing for its implementation across all units upon renewal and/or new lease.
The building comprises 19 spacious apartments, featuring a mix of (5) one-bedroom and (14) two-bedroom units. Most units are bi-level layouts and include private balconies. Originally converted from a church in 2015 with a condo-grade design, the property has undergone a comprehensive renovation. Typical unit finishes include stainless steel appliances, granite countertops, wood cabinetry, hardwood/tile/carpet flooring, and in-unit washer/ dryers. Residents also benefit from unique amenities for a property of this size, including a fitness room with a sauna, a storage room, and a gated surface parking lot with 8 spaces.
The opportunity exists for a new owner to organically increase rents at Saratoga Lofts. Furthermore, there is significant potential to expand the existing water reimbursement program; currently, only a few units participate, allowing for its implementation across all units upon renewal and/or new lease.
Property Facts
| Sale Type | Investment | Building Size | 21,904 SF |
| No. Units | 19 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1873/2015 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.59/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.28 AC | ||
| Zoning | C-5-HT | ||
| Sale Type | Investment |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 21,904 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built/Renovated | 1873/2015 |
| Parking Ratio | 0.59/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C-5-HT |
Amenities
Site Amenities
- Courtyard
- Fitness Center
- Sauna
- Storage Space
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Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Contacts
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Brooks Healy -
Justin Verner -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Street
Map
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Saratoga Lofts | 125 W Saratoga St
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