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Whitelock Apartments 841-847 Whitelock St 20 Unit Apartment Building $2,150,000 ($107,500/Unit) Baltimore, MD 21217
Investment Highlights
- Opportunity to Acquire a Stabilized Multifamily Asset with Value-Add Potential in Reservoir Hill
- Excellent Location in Reservoir Hill, Blocks Away from Druid Hill Park
- Ability to Create Value and Increase Rents
Executive Summary
Harbor Stone Advisors is pleased to offer Whitelock Apartments, a value-add opportunity in Reservior Hill. The property's prime location is a few blocks from Druid Hill Park, a historic 745-acre urban park currently undergoing a significant $290 million renovation. This iconic park is home to the Maryland Zoo, numerous cultural landmarks, and extensive recreational amenities, including pools, sports fields, and trails.
Whitelock Apartments features (20) spacious apartments with a unit mix of (3) 1 Br-1 Ba, (13) 2 Br-1 Ba, and (4) 2 Br-2 Ba. Typical unit features consist of stainless steel appliances, granite countertops, wood cabinets, tile flooring, and in-unit washer/dryers. The opportunity exists for a new owner to refresh all of the units with a suggested scope of updated bathrooms and modern hardware/fixtures. Properties of similar vintage in the area that have undergone renovations of a similar scope are achieving rents at least 15% higher on average than the Subject property.
Whitelock Apartments features (20) spacious apartments with a unit mix of (3) 1 Br-1 Ba, (13) 2 Br-1 Ba, and (4) 2 Br-2 Ba. Typical unit features consist of stainless steel appliances, granite countertops, wood cabinets, tile flooring, and in-unit washer/dryers. The opportunity exists for a new owner to refresh all of the units with a suggested scope of updated bathrooms and modern hardware/fixtures. Properties of similar vintage in the area that have undergone renovations of a similar scope are achieving rents at least 15% higher on average than the Subject property.
Property Facts
| Price | $2,150,000 | Building Class | C |
| Price Per Unit | $107,500 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 15,039 SF |
| No. Units | 20 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1910/2014 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-7 | ||
| Price | $2,150,000 |
| Price Per Unit | $107,500 |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 15,039 SF |
| Average Occupancy | 95% |
| No. Stories | 4 |
| Year Built/Renovated | 1910/2014 |
| Opportunity Zone |
Yes |
| Zoning | R-7 |
Amenities
Unit Amenities
- Washer/Dryer
- Tile Floors
- Granite Countertops
- Stainless Steel Appliances
- Large Bedrooms
Site Amenities
- Courtyard
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 3459-031 | Improvements Assessment | $2,295,000 |
| Land Assessment | $155,200 | Total Assessment | $2,450,200 |
Property Taxes
Parcel Number
3459-031
Land Assessment
$155,200
Improvements Assessment
$2,295,000
Total Assessment
$2,450,200
Contacts
-
Tom Wohlgemuth -
Justin Verner -
Brooks Healy -
Kevin Landolphi -
Harbor Stone Advisors
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