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Maine Apartments 3921 Maine Ave 8 Unit Apartment Building $765,000 ($95,625/Unit) Baltimore, MD 21207
Investment Highlights
- Opportunity to Acquire a Well-Maintained Multifamily Asset in Northwest Baltimore City
- Located in Central Forest Park Area of NW Baltimore City
- Value Add Potential Via Rent Growth and Renovation Two Remaining Classic Units
Executive Summary
Harbor Stone Advisors is pleased to present the opportunity to acquire Maine Apartments, a well-maintained multifamily asset located in Northwest Baltimore City. The property consists of 8 spacious units, with a mix of (6) 1 Br-1 Ba and (2) 2 Br-1 Ba. Current ownership renovated all but two units between 2020 and 2021 with a scope of new appliances, updated cabinets and countertops, refreshed bathrooms, and vinyl flooring.
The opportunity exists for a new owner to continue the existing renovation scope on the two remaining classic units, while also organically increasing rents. Comparable properties in the area are achieving rents $200 higher on average than the Subject property.
The opportunity exists for a new owner to continue the existing renovation scope on the two remaining classic units, while also organically increasing rents. Comparable properties in the area are achieving rents $200 higher on average than the Subject property.
Property Facts
| Price | $765,000 | Building Class | C |
| Price Per Unit | $95,625 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 6,560 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1966/2020 |
| Apartment Style | Low-Rise | ||
| Zoning | R-1-E | ||
| Price | $765,000 |
| Price Per Unit | $95,625 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 6,560 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2020 |
| Zoning | R-1-E |
Amenities
Unit Amenities
- Air Conditioning
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Carpet
- Vinyl Flooring
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Private Bathroom
- Walk-Up
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Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 2735-003 | Improvements Assessment | $194,600 |
| Land Assessment | $125,400 | Total Assessment | $320,000 |
Property Taxes
Parcel Number
2735-003
Land Assessment
$125,400
Improvements Assessment
$194,600
Total Assessment
$320,000
Contacts
-
Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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Maine Apartments | 3921 Maine Ave
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