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Hendrickson Townhomes

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Address: 281 Hendrickson Ln, Towson, MD 21286, USA

Washington DC + Apartment Buildings

Created date: September 19, 2024

Date last updated: October 14, 2024

Rare Middle-Market Opportunity to Acquire a 29 Unit Townhome Rental Community in Towson
• Consists of 29 units with a mix of (6) 2 Br-1 Ba apartments, (20) 3 Br-1.5 Ba townhomes, and (3) 4 Br-1.5 Ba townhomes
• Typical unit features include white appliances, wood cabinets, laminate countertops, and carpet/vinyl plank/ceramic tile flooring
• Property also has a surface parking lot with 48 spaces
Ability to Substantially Increase Rents Via Renovation Program
• Opportunity exists for a new owner to renovate all of the units at Hendrickson Townhomes with a suggested scope of stainless steel appliances, granite countertops, updated bathrooms, and vinyl plank flooring throughout
• Comparable properties nearby are achieving rents at least 25% higher on average than the Subject property
• A new owner can evaluate shifting the tenant base to predominantly market and/or student housing
• There is also an ability to implement a water reimbursement program upon renewal and/or new lease, reposition management, and cut unnecessary expenses
Excellent Location in the Heart of Towson
• Suburban location with easy access to I-695 and proximity to Towson Town Center
• Major area employers nearby: Stanley Black and Decker, GBMC, University of Maryland St. Joseph Medical Center, Sheppard Pratt
• Major area colleges nearby: Towson University, Goucher College, Loyola University of Maryland

Property Description

281 Hendrickson Ln. | Towson, MD 21286Harbor Stone Advisors is pleased to present Hendrickson Townhomes, a rare value-add opportunity in Baltimore County. Located in the heart of Towson, Hendrickson Townhomes is less than a 10-minute drive away from 3 of the top employers in the county: Towson University, University of Maryland St. Joseph Medical Center, and Greater Baltimore Medical Center (GBMC). The property is also a 5-minute walk away from the Towson Town Center, home to numerous retail shops and restaurants, and Stanley Black and Decker.Hendrickson Townhomes consists of 29 units with a mix of (6) 2 Br-1 Ba apartments, (20) 3 Br-1.5 Ba townhomes, and (3) 4 Br-1.5 Ba townhomes. Typical unit features include white appliances, wood cabinets, laminate countertops, and carpet/vinyl plank/ceramic tile flooring. The property also has a surface parking lot with 48 spaces. The opportunity exists for a new owner to renovate all of the units at Hendrickson Townhomes with a suggested scope of stainless steel appliances, granite countertops, updated bathrooms, and vinyl plank flooring throughout. Comparable properties nearby are achieving rents at least 25% higher on average than the Subject property. A new owner can also evaluate shifting the tenant base to predominantly market and/or student housing, implement a water reimbursement program upon renewal and/or new lease, reposition management, and cut unnecessary expenses.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
No. of Units:	29
Lot Size:	1.00 Sq ft
Opportunity Zone:	No
Property Website	Click Here