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714 - 716 N Fremont 714-716 N Fremont Ave 7 Unit Apartment Building $860,000 ($122,857/Unit) 10.31% Cap Rate Baltimore, MD 21217
Investment Highlights
- Opportunity to Acquire a Mid-Sized Baltimore City Asset
- Convenient Location in Baltimore City With Easy Access to Downtown Baltimore
- Minimal Deferred Maintenance and a Long Term Master-Lease
Executive Summary
Harbor Stone Advisors is pleased to present the opportunity to acquire 714-716 N Fremont, a Baltimore City asset. The property is located in close proximity to the Walters Art Museum, Lexington Market, and the newly renovated CFG Arena.
714-716 N Fremont features 7 units with a mix of (6) 1 Br-1 Ba and (1) Commercial unit. Typical unit features consist of stainless steel/white/black appliances, formica countertops, wood cabinets, and tile and carpeted flooring.
At 714-716 N Fremont, the ground floor is currently leased to a rehabilitation company specializing in outpatient rehabilitation housing through September 2031 with a 3% annual rent increase. The commercial tenant has a master-lease structure with the residential units through September 2031. The Master-lease provides certainty of rental income.
714-716 N Fremont features 7 units with a mix of (6) 1 Br-1 Ba and (1) Commercial unit. Typical unit features consist of stainless steel/white/black appliances, formica countertops, wood cabinets, and tile and carpeted flooring.
At 714-716 N Fremont, the ground floor is currently leased to a rehabilitation company specializing in outpatient rehabilitation housing through September 2031 with a 3% annual rent increase. The commercial tenant has a master-lease structure with the residential units through September 2031. The Master-lease provides certainty of rental income.
Property Facts
| Price | $860,000 | Apartment Style | Low-Rise |
| Price Per Unit | $122,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 10.31% | Building Size | 6,470 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1920 |
| Zoning | R-8 | ||
| Price | $860,000 |
| Price Per Unit | $122,857 |
| Sale Type | Investment |
| Cap Rate | 10.31% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 6,470 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1920 |
| Zoning | R-8 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Carpet
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
1 1
Walk Score®
Very Walkable (79)
Transit Score®
Rider's Paradise (91)
Property Taxes
| Parcel Number | 0104-055 | Improvements Assessment | $296,000 |
| Land Assessment | $4,000 | Total Assessment | $300,000 |
Property Taxes
Parcel Number
0104-055
Land Assessment
$4,000
Improvements Assessment
$296,000
Total Assessment
$300,000
Contacts
-
Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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714 - 716 N Fremont | 714-716 N Fremont Ave
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