Baltimore, MD – Harbor Stone Advisors has been awarded the assignment to market Ridgely’s Row, a value-add opportunity steps from the University of Maryland Baltimore Graduate School Campus and Medical Center (UMB). Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, Senior Advisor, Tom Wohlgemuth, and Advisor, Kevin Landolphi are marketing the property.
Ridgely’s Row, located at 638 S Paca St., features a mix of (1) 1 Br-1 Ba, (3) 2 Br-1 Ba and (12) townhome-style 3 Br-1.5 Ba units. Typical unit features consist of white/black appliances, wood cabinets, formica countertops, and carpet/tile/vinyl flooring. Additionally, the property includes (6) surface parking spaces and a laundry facility.
Built in the 1980s, the property is much newer than other buildings in the historic neighborhood. The opportunity exists for a new owner to add value via a renovation program, or to organically increase rents.
Ridgely’s Row is located in Ridgely’s Delight, a neighborhood where over 75% of residents are renters. The property is adjacent to UMB, a prominent institution made up of over 22,000 employees and students. Residents also enjoy the excellent walkability to Baltimore’s Downtown, with easy access to community staples such as Camden Yards, M&T Bank Stadium, and the Inner Harbor.
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