Nottingham South 707 Nottingham Rd 85 Unit Apartment Building For Sale Baltimore, MD 21229

Harbor Stone Advisors is pleased to present Nottingham South, a well-maintained garden apartment community located in Southwest Baltimore City. This exceptional property offers a strategic location, bordering the Baltimore County line and providing seamless access to major transportation arteries including I-70, I-695, and Route 40, ensuring convenient connectivity for residents.
The property features 84 apartment units with a mix of (32) Studios, (40) 1 Br- 1 Ba, (11) 2 Br-1 Ba, and (1) 2 Br-2 Ba. In addition to the residential offerings, Nottingham South also features a valuable commercial space, currently leased to a nail salon until February 2028, providing a stable income stream. Residents benefit from an array of on-site amenities designed to enhance their living experience, including a family-friendly playground, ample surface parking, and convenient on-site laundry facilities. Current ownership has completed numerous capital projects over the years including unit renovations, leaving minimal deferred maintenance for a new owner. Typical apartment unit features include white appliances, wood cabinets, formica countertops, updated bathrooms, and hardwood flooring throughout. Beyond individual unit enhancements, the current owner has also invested significantly in the property's infrastructure, replacing all windows, comprehensively overhauling all six boilers, modernizing common areas, and executing essential roof work, among other critical projects.
A compelling opportunity exists for a new owner to further elevate the property's appeal and financial performance through strategic interior upgrades. By introducing premium features such as stainless steel appliances, granite countertops, and contemporary hardware and fixtures, a new owner can significantly enhance the resident experience and command higher rental rates. The local market has demonstrated a strong appetite for higher-end renovations, with comparable properties in the vicinity currently achieving rents at least 20% higher on average than Nottingham South. Furthermore, there is an immediate opportunity to optimize utility reimbursements by increasing monthly charges to tenants to more fully cover gas and water expenses. Alternatively, a new owner could explore the installation of individual submeters.