816-830 Argonne Dr
Baltimore, MD 21218
Mayflower Apartments · Multifamily Property For Sale · 65 Units

The closing period for this asset is 30 days, with one (1) 30-day closing extension option available. Please see the purchase agreement documents in the due diligence section for more information. The final property tour will take place Thursday, October 19th by appointment ONLY. Please contact Frank Shopland at 301-300-6275 or frank@frankshopland.com to schedule a time. Investment Highlights: 65-unit 7-building multi-family complex located in Baltimore, MD ñ95.4% occupied with an average monthly rent of approximately $576 per unit Consists of seven 3-story buildings on approximately 1.13 acres of land Conveniently located near numerous shopping, dining, and other local destinations Baltimore City bus service located directly in front of the building Easily accessible from I-95, I-695, I-83, and I-295 Investment Overview: 816-830 Argonne Drive, also known as Mayflower Apartments at Argonne Drive (the "Property"), is a 65-unit low-rise multifamily apartment complex located in Baltimore, MD. Originally constructed in 1955 on ñ1.13 acres, the Property consists of seven 2 and 3-story buildings with ñ36,881 GSF. The buildings are demised into 19 studio apartments, 39 The buildings are demised into 19 studio apartments, 39 one-bedroom/one-bath, and 7 two-bedroom/one-bathroom apartments. The units range in size from approximately 400 to 800 SF, and feature refrigerators, heating, and is prewired for high-speed internet. The Property was completely remodeled in 2012. There is a coin operated laundry room on the premises and ñ14 surface parking spaces, with plenty of street parking available. Based on the August 31st, 2017 rent roll, the Property is ñ95.4% occupied. The buildings are Certified Lead Free and gas and electric utility costs are covered by tenants. Mayflower Apartments at Argonne Drive, located in the Pen Lucy neighborhood, is approximately 4 miles northeast of downtown Baltimore and ñ4.2 miles northeast of the Inner Harbor. There are several hospital and emergency service centers located in downtown Baltimore. Choices include Mercy Medical Center, Harriet Lane Clinic, Medstar Union Memorial Hospital, and John Hopkins Children's Center. Schools nearby include St. Elizabeth (right across Argonne Drive), Waverly Elementary School, Mergenthaler High School, Morgan State University, and Johns Hopkins University, all within 1.5 miles. Th