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St. James Court Apartments

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Address: 1312 Eutaw Pl, Baltimore, MD 21217, USA

Washington DC + Apartment Buildings

Created date: February 28, 2024

Date last updated: September 20, 2024

Opportunity to Acquire a Multifamily Asset in Bolton Hill
- Features 25 large units with a mix of (1) Studio, (6) 1 Br-1 Ba, (14) 2 Br-1 Ba, (2) 3 Br-1 Ba, and (2) carriage homes
- There is a landscaped courtyard with secured entry that tenants walk through to reach their units and a shared laundry area
- Typical unit features consist of white appliances, wood cabinets, formica countertops, and hardwood/tile flooring
Ability to Increase Rents Via Renovation Program
- Opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms
- Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $350 higher on average compared to the Subject property
- Other value add opportunities include evaluating the possibility of implementing a utility reimbursement program upon renewal and/or new lease
Excellent Location in Bolton Hill
- Easy access to I-83 and Downtown Baltimore
- Less than a mile from Penn Station and only an 8-minute walk to the closest light rail station
- Major area employers/colleges nearby: Maryland Institute College of Art (MICA), University of Baltimore, University of Maryland Medical Center (UMMC) Midtown Campus, Social Security Administration

Property Description

View Executive Summary
1312-1316 Eutaw Pl | Baltimore, MD 21217Harbor Stone Advisors is pleased to present St. James Court Apartments, a multifamily asset in the Bolton Hill neighborhood of Baltimore City. St. James Court Apartments features 25 large units with a mix of (1) Studio, (6) 1 Br-1 Ba, (14) 2 Br-1 Ba, (2) 3 Br-1 Ba, and (2) carriage homes. There is a landscaped courtyard with secured entry that tenants walk through to reach their units and a shared laundry area. Typical unit features consist of white appliances, wood cabinets, formica countertops, and hardwood/tile flooring.The opportunity exists for a new owner to renovate all of the units with a suggested scope of stainless steel appliances, updated cabinets, granite countertops, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $350 higher on average compared to the Subject property. Other value add opportunities include evaluating the possibility of implementing a utility reimbursement program upon renewal and/or new lease.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$3,650,000
No. of Units:	25
Lot Size:	1.00 Sq ft
Opportunity Zone:	No
Price per unit:	$146,000
Property Website	Click Here