2 E Preston St, Baltimore, MD 21202

Price Represents Opening Bid. For further auction details, visit: https://realestate.alexcooper.com/auction-property/1-CR612L/lead-free-luxury-13-unit-apartment-building-with-ground-floor-retail-in-the-mid-town-belvedere-neighborhood-of-baltimore-city-adjacent-to-the-university-of-baltimore-and-two-blocks-to-penn-station-gross-potential-annual-rent-of-223-380

Harbor Stone Advisors and Alex Cooper Auctioneers are pleased to present Preston Street Lofts, a gut-renovated, mixed use asset located in Historic Mount Vernon. The property is a 1-minute walk from University of Baltimore and a half mile from UMMC Midtown Campus. Preston Street Lofts is also a 5 minute walk to Penn Station, which is under going $150 million worth of renovations over the next several years.

The opportunity exists for a new owner to organically increase rents upon unit turnovers. Preston Street Lofts has an existing CHAP Tax Credit that runs through 2028-2029 tax year.