1214 Eutaw Place
- Opportunity to Acquire a Gut Renovated Asset in Bolton Hill
- In-Place Assumable Debt Below Prevailing Market Rates
- Ability to Further Increase Rental Revenue
- Excellent Location in Bolton Hill Near Some of Baltimore City's Top Employers
Property Description
Harbor Stone Advisors is pleased to present 1214 Eutaw, a gut renovated asset located in the historic Bolton Hill neighborhood of Baltimore City. Bolton Hill is home to 20 blocks of mostly preserved, historic buildings and numerous monument and parks. Residents of 1214 Eutaw are just a short walk away from University of Maryland Medical Center (UMMC) Midtown Campus, Maryland State Government offices, University of Baltimore, and the Maryland Institute College of Art (MICA). The property features 26 units with a mix of (5) Studios, (16) 1 Br-1 Ba and (3) 2 Br-2 Ba, as well as (2) commercial spaces. The commercial spaces are leased to a spa and hair salon through May 2026 and September 2026 respectively. There is also a surface lot behind the building with six parking spaces. Current ownership completed a comprehensive gut renovation of the property in 2020, leaving minimal deferred maintenance for a new owner. Typical apartment unit features include stainless steel appliance packages, granite countertops, wood cabinets, hardwood flooring, in-unit washer/dryers, and luxury finishes. The opportunity exists for a new owner to organically increase rents at 1214 Eutaw, as well as implement a water reimbursement program upon renewal and/or new lease. The property also has an existing CHAP Tax Credit in-place through the 2030-2031 tax year, offering future savings. 1214 Eutaw has pre-existing debt that can be assumed. The current balance is $3,114,000 with a 3.875% interest rate. The loan matures in July 2050, with rate adjustments in 2030 and 2040.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,200,000 |
| No. of Units: | 26 |
| Year Built: | 1900 |
| Lot Size: | 0.25 Acres |
| Opportunity Zone: | No |
| Price per unit: | $161,538 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout