The Glen Burnie Apartment Collection 3 Multifamily Properties in Glen Burnie, MD
EXECUTIVE SUMMARY
Transwestern’s Mid-Atlantic Multifamily Group, as exclusive agent, is pleased to present The Glen Burnie Apartment Collection, a three-property portfolio comprised of Gatewater Landing Apartments (263-units), Annabal Apartments (150-units), and the Glen Burnie Town Apartments (54-units),all located in Glen Burnie, MD.
This 467-unit multifamily portfolio offers investors a strong opportunity to acquire three well-maintained apartment communities conveniently located close to major employment centers that are positioned to exhibit revenue growth organically through lease renewals and turnover, continued in-unit renovations, and through the execution of several accretive upside opportunities:
- Current ownership has demonstrated the strong demand for renovated units at Gatewater Landing and Annabal which will allow new ownership the opportunity to continue renovating units with a strong return on investment
- Income growth through rent roll analysis suggests that there is potential to increase asking rents, while also realizing organic increases from lease renewal and turnover
- Several other income opportunities such as continued absorption of Utility Fee Income Reimbursements from tenants.
The Properties are being offered individually or collectively as a portfolio to allow new ownership to take advantage of management efficiencies and other economies of scale.
This 467-unit multifamily portfolio offers investors a strong opportunity to acquire three well-maintained apartment communities conveniently located close to major employment centers that are positioned to exhibit revenue growth organically through lease renewals and turnover, continued in-unit renovations, and through the execution of several accretive upside opportunities:
- Current ownership has demonstrated the strong demand for renovated units at Gatewater Landing and Annabal which will allow new ownership the opportunity to continue renovating units with a strong return on investment
- Income growth through rent roll analysis suggests that there is potential to increase asking rents, while also realizing organic increases from lease renewal and turnover
- Several other income opportunities such as continued absorption of Utility Fee Income Reimbursements from tenants.
The Properties are being offered individually or collectively as a portfolio to allow new ownership to take advantage of management efficiencies and other economies of scale.
PROPERTY FACTS
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 565,704 SF |
| Total Land Area | 20.42 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Gatewater Landing
7357 Ridgewater Ct, Glen Burnie, MD 21060 |
Multifamily | 399,021 SF | 1975 | - |
|
The Annabal
7491 E Furnace Branch Rd, Glen Burnie, MD 21060 |
Multifamily | 117,500 SF | 1965 | - |
|
Glen Burnie Town Apartments
201 N Crain Hwy, Glen Burnie, MD 21061 |
Multifamily | 49,183 SF | 2000 | - |
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