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St. James Court Apartments 1316 Eutaw Pl 25 Unit Apartment Building $3,122,500 ($124,900/Unit) Baltimore, MD 21217
Investment Highlights
- Opportunity to Acquire a Stabilized Multifamily Asset in Bolton Hill
- Excellent Location in Bolton Hill
- Ability to Increase Rents Via Renovation Program
Executive Summary
Harbor Stone Advisors is pleased to present St. James Court Apartments, a multifamily asset in the Bolton Hill neighborhood of Baltimore City. St. James Court Apartments features 25 large units with a mix of (1) Studio, (6) 1 Br-1 Ba, (14) 2 Br-1 Ba, (2) 3 Br-1 Ba, and (2) carriage homes. There is a landscaped courtyard with secured entry that tenants walk through to reach their units and a shared laundry area. Typical unit features consist of white appliances, wood cabinets, formica countertops, and hardwood/tile flooring.
The opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $350 higher on average compared to the Subject property. Other value add opportunities include evaluating the possibility of implementing a utility reimbursement program upon renewal and/or new lease.
The opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $350 higher on average compared to the Subject property. Other value add opportunities include evaluating the possibility of implementing a utility reimbursement program upon renewal and/or new lease.
Property Facts
| Price | $3,122,500 | Building Class | C |
| Price Per Unit | $124,900 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 17,155 SF |
| No. Units | 25 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.52/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | OR-1 | ||
| Price | $3,122,500 |
| Price Per Unit | $124,900 |
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 17,155 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 0.52/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | OR-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Tub/Shower
Site Amenities
- Laundry Facilities
1 1
Walk Score®
Very Walkable (89)
Transit Score®
Rider's Paradise (92)
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Number | 0399-007 | Improvements Assessment | $1,653,100 |
| Land Assessment | $234,000 | Total Assessment | $1,887,100 |
Property Taxes
Parcel Number
0399-007
Land Assessment
$234,000
Improvements Assessment
$1,653,100
Total Assessment
$1,887,100
Contacts
-
Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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St. James Court Apartments | 1316 Eutaw Pl
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