809 Saint Paul Street
- The Property offers new ownership the opportunity to generate higher revenues through renovating and aggressively releasing units upon vacancy. In place rents are 30% ($329) below market comparables and with a light renovation value-add strategy ownership will be able to quickly capture additional value in a growing submarket.
- The Property is located near three of Baltimore’s nationally recognized universities. Only blocks away sits the University of Baltimore and UB School of Law, one of only two law schools located in Maryland. The Maryland Institute College of Art was established in 1826, making it the oldest degree-granting college of art and design in the U.S; its three M.F.A programs in visual arts provided by the Maryland Institute College of Art are in the top 10 of visual arts degrees in the U.S. Founded in 1857, The Peabody Institute of Johns Hopkins University stands as the oldest conservatory in the U.S and is praised for its prestige in the world of dance and music, hosting nearly 1,000 events and concerts per year.
- The Property is centrally located in Baltimore, providing easy access to downtown and anywhere on the East Coast through Amtrak at Baltimore Penn Station. Since its construction in 1911, Penn Station has served as the primary transportation hub for Baltimore, and has recently undergone a 90M renovation program. It is the eighth busiest in the country and has more than three million Amtrak and MARC passengers moving through the station every year. The Property is also located next to Interstate 83 with connectivity I-95, providing for quick trips to Maryland, D.C., Delaware, and beyond.
- Within a five-minute drive of the Property, residents can access Safeway, CVS, PNC Bank, Starbucks, BP Gas Station, and multiple gyms. Within a five-minute drive or a short walk, residents gain access to Baltimore’s Inner Harbor where they can visit local and national restaurants, national retailers, and anything else they would need. The neighborhoods in Midtown Baltimore are pedestrian-friendly, with tree-lined streets and easy access to shops, restaurants, and parks. Residents can easily walk or bike to their destinations, reducing their reliance on cars. Ownership will benefit from rental premiums from tenants seeking to live in the heart of Baltimore.
- Located in the rich historic downtown district of Baltimore, residents will have access to plenty of culture through arts and entertainment. Baltimore Symphony Orchestra, The Maryland Center for History and Culture, Pearlstone Park, and The Walters Art Museum provide residents a wide range of entertainment within a half-mile radius. The Washington Monument and Mount Vernon Square are within walking distance for residents that want to experience the storied history of Downtown Baltimore. This Harbor adjacent neighborhood is also a short walk from Harbor Point and Baltimore’s Inner Harbor.
Property Description
809 Saint Paul is a six-unit apartment community in the historic Midtown Mount Vernon submarket of Baltimore. The Property presents new ownership an attractive value-add opportunity in a rapidly growing submarket. The location provides residents easy access to transportation, lifestyle amenities, and the arts.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 6 |
| Year Built: | 1900 |
| Lot Size: | 0.07 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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