Baltimore, MD – Harbor Stone Advisors is excited to present 1041 Saint Paul, a renovated multifamily asset located in Historic Mount Vernon. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, Senior Advisor, Tom Wohlgemuth, and Advisor, Kevin Landolphi, are marketing the property.
The property, located at 1041 St Paul St., features (3) Studios, (5) 1 Br-1 Ba, and (1) 2 Br-1 Ba. Current ownership completed a gut renovation of the property in 2019, and typical unit features consist of white/black/stainless steel appliances, wood cabinets, granite countertops, hardwood/LVT flooring, and washer/dryers in some units.
With minimal deferred maintenance, a new owner has the opportunity to organically increase rents. There is potential to increase rents at least 15% based on nearby comparables.
Located in historic Mount Vernon, residents of the property enjoy seamless access to nearby entertainment, restaurants, shops, and museums. Additionally, several major employers are located nearby. Notably, the University of Baltimore and University of Maryland Midtown Medical Center are both within one-half mile of the property. Ample public transportation is also available, including numerous bus stops and a lightrail station. Penn Station, the city’s premier transit hub, is also within a short walk and is set to receive $150 million in renovations over the coming years.
About Harbor Stone Advisors
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit: www.harborstoneadvisors.com