The McDowell Building

• Opportunity to Acquire a Fully Occupied Asset in Downtown Baltimore
• • Features (7) 1 Br-1 Ba, (8) 2 Br-2 Ba, and (2) commercial spaces
• • Commercial spaces are leased to Bella Bridesmaids and Elite Secrets Bridal through September 2025
• • Parking garage on-site with seven parking spaces
• Ability to Increase Rents Via Cosmetic Renovation of 13 Units
• • Current ownership renovated all of the units at 337 N Charles in 2018 with a scope of updated stainless steel appliances, granite countertops, new cabinets, and modern hardware/fixtures
• • Opportunity exists for a new owner to renovate all of the units at 339-341 N Charles with the same scope
• • Comparable properties nearby are achieving rents at least $300 higher than the Subject property
• In-Place Assumable Debt Below Market Rates
• • Property has pre-existing debt that can be assumed
• • Current loan balance is $1,787,753 with 5 years remaining and a 4% interest rate
• Superior Location in Downtown Baltimore; Less Than a 5-Minute Walk Away from Mercy Medical Center
• • Ranked a Walker's Paradise by WalkScore, just steps away from retail, dining, and cultural attractions
• • Close proximity to Inner Harbor
• • Major area employers nearby: Mercy Medical Center, Agora Financial, University Maryland Medical Center (UMMC) Midtown Campus
• • Major area colleges nearby: Peabody Institute of the Johns Hopkins University, University of Maryland, Baltimore, University of Baltimore (UB)

Property Description

337-341 N Charles St. | Baltimore, MD 21201Harbor Stone Advisors is pleased to present the opportunity to acquire The McDowell Building, a fully occupied asset located in Downtown Baltimore. The property is located less than a 5-minute walk away from Mercy Medical Center, one of Baltimore City's top employers, and just steps away from the historic Mt Vernon neighborhood. The McDowell Building features (7) 1 Br-1 Ba, (8) 2 Br-2 Ba, and (2) commercial spaces. The commercial spaces are leased to Bella Bridesmaids and Elite Secrets Bridal through September 2025. There is also a parking garage on-site with seven parking spaces.Current ownership gut renovated all of the units at 337 N Charles in 2018 with a scope of updated stainless steel appliances, granite countertops, new cabinets, and modern hardware/fixtures. The opportunity exists for a new owner to renovate all of the units at 339-341 N Charles with the same scope. Comparable properties nearby are achieving rents at least $300 higher than the Subject property.The Property has pre-existing debt below market rates that can be assumed. The current loan balance is $1,787,753 with 5 years remaining and a 4% interest rate.