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201 Mansion Dr 5 Unit Apartment Building $720,000 ($144,000/Unit) Perryville, MD 21903
INVESTMENT HIGHLIGHTS
- Unique Opportunity to Acquire a Renovated Asset in Perryville, MD
- Excellent Location in Cecil County
- Ability to Increase Rents Via Mid-Term or Conventional Rental Model
EXECUTIVE SUMMARY
Harbor Stone Advisors is pleased to present the unique opportunity to acquire 201 Mansion Dr., a renovated multifamily asset located in Perryville, Maryland. Located near the Susquehanna River, the property is less than a 10 minute drive away from Hollywood Casino and Great Wolf Lodge, two of the area's main attractions. 201 Mansion Dr. is also a 5 minute drive from the Perryville MARC Train Station, allowing convenient access to Baltimore and Washington, DC.
201 Mansion Dr. features 5 large, furnished units with a mix of (2) 1 Bedrooms and (3) 2 Bedrooms. Current ownership completed a renovation of the property in 2024 which included apartment updates and new mechanical and electrical systems. Typical unit features consist of white appliances, granite countertops, hardwood and tile flooring, and high-end finishes.
The property currently operates as a mid-term rental, with tenants typically staying for at least 30 days, and has generated more than $100,000 in rental revenue over the last 12 months. The opportunity exists for a new owner to continue running the asset as a mid-term rental with the ability to increase the nightly rate by at least $35 based on similar assets nearby. There is also an ability for a new owner to operate the building as conventional apartments, rent out the owner's unit, and perform a light upgrade with a suggested scope of stainless steel appliances, and in-unit washer/dryers in units 1A and 2C.
201 Mansion Dr. features 5 large, furnished units with a mix of (2) 1 Bedrooms and (3) 2 Bedrooms. Current ownership completed a renovation of the property in 2024 which included apartment updates and new mechanical and electrical systems. Typical unit features consist of white appliances, granite countertops, hardwood and tile flooring, and high-end finishes.
The property currently operates as a mid-term rental, with tenants typically staying for at least 30 days, and has generated more than $100,000 in rental revenue over the last 12 months. The opportunity exists for a new owner to continue running the asset as a mid-term rental with the ability to increase the nightly rate by at least $35 based on similar assets nearby. There is also an ability for a new owner to operate the building as conventional apartments, rent out the owner's unit, and perform a light upgrade with a suggested scope of stainless steel appliances, and in-unit washer/dryers in units 1A and 2C.
PROPERTY FACTS
| Price | $720,000 | Apartment Style | Low-Rise |
| Price Per Unit | $144,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| No. Units | 5 | Building Size | 3,926 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1940/2024 |
| Zoning | R3 | ||
| Price | $720,000 |
| Price Per Unit | $144,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 3,926 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1940/2024 |
| Zoning | R3 |
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PROPERTY TAXES
| Parcel Number | 07-034458 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $289,100 |
PROPERTY TAXES
Parcel Number
07-034458
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$289,100
CONTACTS
-
Tom Wohlgemuth -
Justin Verner -
Brooks Healy -
Kevin Landolphi -
Harbor Stone Advisors
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201 Mansion Dr
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