Log In/Sign Up
Your email has been sent.
North Court Apartments 39 N Court St 6 Unit Apartment Building $835,000 ($139,167/Unit) 7.52% Cap Rate Westminster, MD 21157
Investment Highlights
- Unique Opportunity to Acquire a Fully Occupied Multifamily Asset in Carroll County
- Excellent Location in Downtown Westminster
Executive Summary
Harbor Stone Advisors is pleased to present North Court Apartments, a fully occupied multifamily asset situated in the heart of Westminster, MD. Located in the National Historic District of Downtown Westminster, North Court Apartments offers a unique living experience. Residents enjoy a walkable main street with preserved historic architecture, boutique stores, and excellent dining options. Downtown Westminster also has an active community calendar with annual events and festivals.
The property features 6 units with a mix of (1) Studio, (3) 1 Bedrooms, and (2) 2 Bedrooms. Prior ownership completed a comprehensive renovation of the property including unit renovations. Typical unit features consist of stainless steel appliances, wood cabinets, formica countertops, hardwood/tile flooring, and in-unit washer dryers. The current owner refreshed two units, 1 and 5, by adding granite countertops and modern hardware/fixtures.
The opportunity exists for a new owner to organically increase rents at North Court Apartments. There is also an ability to monetize parking at the property. Currently, there is a garage on-site that is being used as storage for the property. A new owner can rent out the garage as a parking area for 1-2 cars.
The property features 6 units with a mix of (1) Studio, (3) 1 Bedrooms, and (2) 2 Bedrooms. Prior ownership completed a comprehensive renovation of the property including unit renovations. Typical unit features consist of stainless steel appliances, wood cabinets, formica countertops, hardwood/tile flooring, and in-unit washer dryers. The current owner refreshed two units, 1 and 5, by adding granite countertops and modern hardware/fixtures.
The opportunity exists for a new owner to organically increase rents at North Court Apartments. There is also an ability to monetize parking at the property. Currently, there is a garage on-site that is being used as storage for the property. A new owner can rent out the garage as a parking area for 1-2 cars.
Property Facts
| Price | $835,000 | Building Class | C |
| Price Per Unit | $139,167 | Lot Size | 0.38 AC |
| Sale Type | Investment | Building Size | 6,276 SF |
| Cap Rate | 7.52% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1880 |
| Property Subtype | Apartment | Tenancy | Single |
| Apartment Style | Low-Rise | Parking Ratio | 0.32/1,000 SF |
| Zoning | C-County Use | ||
| Price | $835,000 |
| Price Per Unit | $139,167 |
| Sale Type | Investment |
| Cap Rate | 7.52% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 6,276 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1880 |
| Tenancy | Single |
| Parking Ratio | 0.32/1,000 SF |
| Zoning | C-County Use |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Office
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Walk-Up
- Smoke Detector
1 1
Walk Score®
Very Walkable (81)
Property Taxes
| Parcel Number | 07-069529 | Improvements Assessment | $316,400 |
| Land Assessment | $162,600 | Total Assessment | $479,000 |
Property Taxes
Parcel Number
07-069529
Land Assessment
$162,600
Improvements Assessment
$316,400
Total Assessment
$479,000
Contacts
-
Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
North Court Apartments | 39 N Court St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.