Dundalk Village Apartments

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Address: 63 Shipping Place, Dundalk, Maryland, US
Created date: February 28, 2024
Date last updated: May 23, 2024
  • Mid-Sized Investment Opportunity in Baltimore County
  • • Features (67) residential units with a mix of (30) Studios, (35) 1 Br-1 Ba, (2) 2 Br-1 Ba, and 9,127 SF of executive office space
  • • Plentiful parking for tenants, with a total of 96 surface parking spaces as well as street parking
  • • Typical unit features include black/white appliances, wood cabinets, laminate countertops, and tile/plank/carpet flooring
  • Ability to Renovate Units and Increase Rents
  • • Prior ownership extensively renovated the residential units between 2007 and 2008 which included unit renovations
  • • Other major improvements completed include making electrical and plumbing upgrades and adding split systems
  • • Opportunity exists for a new owner to renovate all of the residential units with a suggested scope of stainless steel appliances and granite countertops
  • • A new owner can also evaluate the possibility of leasing to more Section 8 tenants to further increase rents and gain certainty of rental income
  • Excellent Location in Dundalk
  • • Adjacent to the industrial and logistics hub of Baltimore
  • • Easy access to to I-695, I-895, and a 20 minute drive to the Inner Harbor
  • • Major area employers nearby: Johns Hopkins Bayview Medical Center, Amazon, CCBC Dundalk, and Volkswagen

Property Description

63 Shipping Place | Dundalk, MD 21222Harbor Stone Advisors is pleased to present Dundalk Village Apartments, a mid-sized investment opportunity located in Dundalk, MD. Situated in Baltimore County, Dundalk Village Apartments is right in the middle of the industrial and logistics hub of Baltimore with Chesapeake Commerce Center and Tradepoint Atlantic less than a 10-minute drive away.The property features (67) residential units with a mix of (30) Studios, (35) 1 Br-1 Ba, (2) 2 Br-1 Ba, and 9,127 SF of executive office space. There is plentiful parking for tenants, with a total of 96 surface parking spaces as well as street parking.Prior ownership extensively renovated the residential units between 2007 and 2008 by making electrical and plumbing improvements, adding split systems, and upgrading the kitchen and bathrooms with new cabinets, appliance packages, and ceramic tiled flooring. Typical unit features include black/white appliances, wood cabinets, laminate countertops, and tile/plank/carpet flooring. The opportunity exists for a new owner to renovate all of the residential units with a suggested scope of stainless steel appliances and granite countertops. Comparable properties nearby that have undergone a similar renovation scope are achieving rents at least $200 higher than the Subject property. There is also a possibility of leasing to more Section 8 tenants to further increase rents and gain certainty of rental income. A new owner can also evaluate converting the executive office suites to apartments.    Current ownership is in the process of condoing out the residential/executive offices and commercial portions of the buildings. Upon completion the residential/executive offices will be on (3) tax parcels.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 67
Lot Size: 52,719.00 Sq ft
Opportunity Zone: No
Property Website Click Here
Address: 63 Shipping Place, Dundalk, MD 21222, USA
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