634 N Milton Ave
Baltimore, MD 21205
Hamilton II Portfolio · Multifamily Property For Sale · 52 Units

Marcus & Millichap is pleased to present the exclusive offering of the Hamilton II Portfolio. The portfolio is made up of 52 non-contiguous row homes. At the time of sale 40 of the properties will have been fully renovated and leased to a mix of government - subsidized tenants and market rate. Nine of the properties with-in the portfolio will be sold with out being renovated and represent substantial upside to a new potential owner. The Hamilton portfolio boasts $41,000 in monthly gross rental income. After completing the renovation of the additional 12 row homes the portfolio has the potential to generate over $50,000 in monthly gross rental income. The deal represents a stabilized income generating portfolio, being sold at a cap rate with substantial upside for investors who have the capacity to manage and build in Baltimore City. Typical finishes for the portfolio include new ovens and refrigerators, new cabinets and either vinyl wood floors or carpet through out. Currently tenants are paying the electric and ownership is assisting by paying a portion of the water expense. Baltimore was established in 1729 and is the largest city in the state of Maryland as well as the largest independent city in the United States. The city is located 40 miles northeast from Washington D.C. providing easy access for residence to go back and forth between both cities. Historically, Baltimore was a major manufacturing center but now Baltimore has shifted to a service-oriented economy. Johns Hopkins University & Hospital are the cities two largest employers. Notable employers include Under Armour, Legg Mason, McCormick & Company, T.Rowe Price and Royal Farms. Currently, the average rental occupancy rate in Baltimore City is 94%. Rental rates have steadily increased year over year 2% and rents in the city of Baltimore average between $1,300-$1,500.