London House

• Mid-Rise Asset with Value Add Potential in Upper Park Heights
• • Features a mix of (3) Studios, (17) 1 Br-1 Ba, (16) 2 Br-2 Ba, and (1) commercial unit
• • Commercial space is leased to a medical office through December 2024
• • Property amenities include a surface parking lot, two garages, balconies/patios for most units, and on-site laundry facility
• • Typical unit features consist of white/black appliances, formica countertops, wood cabinets, and carpet/laminate/tile flooring
• Significant Potential to Increase Rents Via Renovation Program
• • Opportunity exists for a new owner to renovate all of the residential units, with a suggested scope of black/stainless steel appliances, granite countertops, updated bathrooms, plank flooring throughout, and modern hardware/fixtures
• • Comparable properties nearby are achieving rents at least $230 higher on average than the Subject property
• • Other value add opportunities include renovating the down unit and bringing it back online, refreshing the common areas and converting the two garages to either an amenity space or an additional unit
• Excellent Location in NW Baltimore
• • Easy access to I-695; multiple public transportation options nearby such as bus stops and the Reisterstown Plaza metro station
• • Major area employers nearby: Sinai Hospital, Social Security Administration
• • Major area colleges nearby: Stevenson University, Towson University, Loyola Blakefield, Goucher College

Property Description

6101 Park Heights Ave. Baltimore, MD 21215Harbor Stone Advisors and Alex Cooper Auctioneers are pleased to present London House Apartments, a mid-rise asset with value add potential located in Upper Park Heights. London House Apartments features a mix of (3) Studios, (17) 1 Br-1 Ba, (16) 2 Br-2 Ba, and (1) commercial unit. The commercial space is leased to a medical office through December 2024. Property amenities include a surface parking lot, two garages, balconies/patios for most units, and on-site laundry facility. Typical unit features consist of white/black appliances, formica countertops, wood cabinets, and carpet/laminate/tile flooring. Current ownership has installed a new hardwired fire system and is in the process of replacing the elevator.The opportunity exists for a new owner to renovate all of the residential units at London House, with a suggested scope of black/stainless steel appliances, granite countertops, updated bathrooms, plank flooring throughout, and modern hardware/fixtures. Comparable properties nearby are achieving rents at least $230 higher than the Subject property. A new owner can also renovate the down unit and bring it back online, refresh the common areas, and convert the two garages to either an amenity space or an additional unit.