1901-1909 N Forest Park Avenue

• REVENUE GROWTH OPPORTUNITY
• Current in-place rents at the property are more than $243 below similar properties in the neighborhood. With light aesthetic
• improvements such as the addition of modern appliances, new cabinets/countertops and in-unit washers/dryers, ownership can
• increase rents and improve revenues while still providing a value rental option to residents.
• ADJACENT TO ECONOMIC DEVELOPMENT
• Economic activity in Baltimore City continues its rebound. Nearby Druid Hill Park is undergoing a 745-acre redevelopment with plans to include a boardwalk park over Druid Lake.
• WORKFORCE POPULATION MIGRATION
• As a result of the forthcoming and current developments on Downtown’s West side paired with rising construction costs requiring developers to maintain certain rent hurdles. Workforce housing neighborhoods with strong public resources such as Reservoir Hill, Forest Park and Windsor Hills have seen a 18% average year over year increase in property values, giving new ownership reason for excitement about expanding property values as the trend continues Northwest.
• TRANSPORTATION ABOUND
• The Property is directly adjacent to the 34-bus line which serves as a city connector for suburban residents commuting to Downtown Baltimore. In addition, the property is within immediate proximity to interstate 70 and 695 delivering commuters throughout Baltimore and Howard Counties.
• STRONG SCHOOLS AND LARGE UNITS
• The Property is a short distance to Dickey Hill Elementary and Middle School which supports more than students from kindergarten through 8th grade. This community runs along local school bus routes and holds large two-bedroom units and boasts a near one acre total land parcel including a large courtyard for community space and family activities. the Property is an attractive housing option for small families looking for strong public resources, promising ownership steady rental demand.

Property Description

THE OPPORTUNITY Kernan Gardens is a 55-unit apartment community located in the Forest Park submarket of Baltimore City. The value-add opportunity is in a quaint suburban neighborhood with access to amenities, public transportation, schools and employment. The unit mix consists of 30 two-bedroom units and 25 one-bedroom units.