2107-2111 Park Avenue
16-unit apartment building in Baltimore's Reservoir Hill.
Marketing description
This exceptional 16-unit multifamily property boasts a winning combination of location, potential, and making it the perfect opportunity to add a high-performing asset to your portfolio.
Strategically situated near MICA, John Hopkins University, and the flourishing MCB North Avenue development, this property attracts a steady stream of students and professionals, guaranteeing consistent rental demand and healthy occupancy rates.
Nestled in the vibrant Reservoir Square district, this property benefits from the area's upward trajectory and growing appeal. Witness your investment appreciate in value alongside the neighborhood's ongoing revitalization.
This opportunity caters to investors seeking a judicious balance between security and strong potential returns.
Investment highlights
Value-Add Opportunity: Attractive price per unit compared to the local comps in the area.
Prime Location: 16-unit value-add multifamily in Baltimore’s Mount Royal/Reservoir Hill submarket with excellent access to major transportation corridors, Mount Royal/UB Station, and Penn Station.
Strong Demand Drivers: Close to Johns Hopkins University, MICA, the University of Baltimore, and the Reservoir Square revitalization, supporting stable rental demand.
Value-Add Opportunity: Attractive price per unit compared to the local comps in the area.
Significant Upside: Current rents ~$1,050 vs. market ~$1,800, providing substantial revenue growth potential through lease-up and rent repositioning.
Income Growth: Gross rental income projected to increase from ~$176,000 at current rents to ~$352,000 in Year 1, with NOI growing from ~$74,100 to ~$219,380 as units stabilize at market rates.
Operational Efficiency: Spacious units with hardwood floors and private balconies, ample parking, shared laundry, and separately metered gas and electric reduce owner expenses and enhance cash flow potential.
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