38-50 West Biddle Street, Baltimore, MD 21201

Harbor Stone Advisors is pleased to present Apartments on Biddle, a well-maintained multifamily asset located in Historic Mount Vernon. The property is a 3 minute walk away from The University of Baltimore Campus and the Social Security Administration and just a 6 minute walk away from UMMC Midtown Campus and MICA (Maryland Institute College of Art). 38-50 W Biddle Street is also less than half mile away from Penn Station, which is undergoing $150 million worth of renovations over the next several years.

The property features 36 units with a mix of (9) Studios, (16) 1 Br-1 Ba, (9) 2 Bedrooms and (1) 3 Br-2 Ba, as well as 1 commercial space. The commercial space is leased to a long term commercial tenant through March 2027. Typical unit features consist of white/stainless steel appliances, wood cabinets, formica countertops, and hardwood/plank/carpet flooring. The property also has a surface parking lot behind the building with 12 spaces. Current ownership has completed a handful of capital improvements such as some roof and hot water heater replacements, updated the electric, installed Central HVAC in 5 units, and installed washer/dryers in the majority of units.

Current ownership has renovated 18 units between 2017 and 2025. The opportunity exists for a new owner to renovate the remaining 17 classic units at Apartments on Biddle with a suggested scope of stainless steel appliances, resurfaced countertops, new cabinets, and updated bathrooms. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least 20% higher on average than the Subject property. 38-50 W Biddle Street has pre-existing debt that can be assumed. The current balance is $3,196,595 with a 4.07% interest rate and a maturity date of October 2027.