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Abbey Place 41 Wttr Ln 35 Unit Apartment Building For Sale Westminster, MD 21158
Investment Highlights
- Rare Opportunity to Acquire a Newly Constructed Asset in Westminster, MD
- Minimal Deferred Maintenance for a New Owner
- Restricted Local Multifamily Development, Stable Occupancy and Rent Growth
- Excellent Location in Carroll County
Executive Summary
Harbor Stone Advisors is pleased to present Abbey Place, a newly constructed multifamily asset located in Westminster, MD. The property is conveniently situated just four minutes from McDaniel College and Downtown Westminster, providing residents with easy access to a walkable main street filled with historic architecture, boutique shopping, and diverse dining. The local area also features a vibrant community life with various annual festivals and events.
Completed in 2023, Abbey Place consists of 35 luxury apartments designed with high-end finishes. The unit mix includes (12) One Bedroom units, (16) Two Bedroom units, and (7) 3 Br-2 Ba units. Each spacious residence is equipped with modern features such as stainless steel appliances, granite countertops, wood cabinetry, in-unit laundry facilities, and a combination of carpet and vinyl plank flooring. The property also offers tenant amenities such as a fitness center, community room, and a walking path.
Investment potential at Abbey Place includes the ability to organically raise rents. Additionally, a new owner may enhance the property’s value by introducing new resident amenities, such as a playground or a dog park. Abbey Place has pre-existing debt that can be assumed. The current balance is $7,538,000 with a 5.74% interest rate and maturity of January 2032.
Completed in 2023, Abbey Place consists of 35 luxury apartments designed with high-end finishes. The unit mix includes (12) One Bedroom units, (16) Two Bedroom units, and (7) 3 Br-2 Ba units. Each spacious residence is equipped with modern features such as stainless steel appliances, granite countertops, wood cabinetry, in-unit laundry facilities, and a combination of carpet and vinyl plank flooring. The property also offers tenant amenities such as a fitness center, community room, and a walking path.
Investment potential at Abbey Place includes the ability to organically raise rents. Additionally, a new owner may enhance the property’s value by introducing new resident amenities, such as a playground or a dog park. Abbey Place has pre-existing debt that can be assumed. The current balance is $7,538,000 with a 5.74% interest rate and maturity of January 2032.
Property Facts
| Sale Type | Investment | Lot Size | 8.90 AC |
| No. Units | 35 | Building Size | 35,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2023 |
| Building Class | B | ||
| Zoning | PD-4 | ||
| Sale Type | Investment |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 8.90 AC |
| Building Size | 35,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2023 |
| Zoning | PD-4 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Walk-In Closets
- Freezer
- Patio
- Vacuum System
Site Amenities
- 24 Hour Access
- Controlled Access
- Clubhouse
- Fitness Center
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 07-433910 | Improvements Assessment | $4,052,900 |
| Land Assessment | $1,163,600 | Total Assessment | $5,216,500 |
Property Taxes
Parcel Number
07-433910
Land Assessment
$1,163,600
Improvements Assessment
$4,052,900
Total Assessment
$5,216,500
Contacts
-
Brooks Healy -
Justin Verner -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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