1600 Bolton

Address: 1600 Bolton St. Baltimore, MD 21217, Baltimore, Maryland, US

Washington DC + Apartments

Created date: October 5, 2023

Date last updated: October 5, 2023

Opportunity to Acquire a Fully Occupied Multifamily Asset in Bolton Hill
• Features 5 large units with a mix of (2) 1 Br-1 Ba, (1) 1 Br-1.5 Ba w/Den, (1) 2 Br-1 Ba, and (1) 4 Br-2.5 Ba
• Typical unit features consist of white appliances, wood cabinets, hard surface countertops, and hardwood/ceramic tile flooring
• Current ownership replaced the roof in 2022 and installed HVAC in units 2F and 3R
Ability to Increase Rents Via Renovation Program
• Opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms
• Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $150 higher compared to the Subject property
• Other value add opportunities include implementing a water reimbursement program upon renewal and/or new lease and potentially creating surface parking behind the building
Excellent Location in Bolton Hill
• Easy access to I-83 and Downtown Baltimore
• Located 1 mile away from Penn Station and surrounded by additonal public transportation options such as the Metro, Lightrail, and CityLink bus stops
• Major area employers/colleges nearby: Maryland Institute College of Art (MICA), University of Baltimore, University of Maryland Medical Center (UMMC) Midtown Campus

Property Description

1600 Bolton St. Baltimore, MD 21217Harbor Stone Advisors is please to present the opportunity to acquire 1600 Bolton Apartments, a fully occupied multifamily asset located in the Bolton Hill neighborhood of Baltimore City. 1600 Bolton Apartments features 5 large units with a mix of (2) 1 Br-1 Ba, (1) 1 Br-1.5 Ba w/Den, (1) 2 Br-1 Ba, and (1) 4 Br-2.5 Ba. Typical unit features consist of white appliances, wood cabinets, hard surface countertops, and hardwood/ceramic tile flooring. Current ownership replaced the roof in 2022 and installed HVAC in units 2F and 3R.The opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $150 higher compared to the Subject property. Other value add opportunities include implementing a water reimbursement program upon renewal and/or new lease and potentially creating surface parking behind the building.

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Justin Verner

(410) 960-3962

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Brooks Healy

443-523-6865

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Tom Wohlgemuth

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Shana Callahan

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Todd Galvin

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Price:	$700,000
No. of Units:	5
Year Built:	1880
Lot Size:	5,940.00 Acres
Opportunity Zone:	No
Price per unit:	$140,000
Property Website	Click Here