W Monument Street Apartments
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W Monument Street Apartments
2 Multifamily Properties in Baltimore, MD
Investment Highlights
- Opportunity to Acquire a Renovated Asset in Historic Mount Vernon
- Located in Historic Mount Vernon; Less Than a 5 minute Walk to the Peabody Institute of the Johns Hopkins University and UMMC Midtown Campus
- Ability to Organically Increase Rents
Executive Summary
Harbor Stone Advisors is pleased to present W Monument Street Apartments, a renovated multifamily asset located in Historic Mount Vernon. The property is less than a 5 minute walk away from the Peabody Institute of the Johns Hopkins University and University of Maryland Medical Center (UMMC) Midtown Campus.
W Monument Street Apartments features 34 units with a mix of (2) Studios, (30) 1 Br-1 Ba, (1) 2 Br-1 Ba, and (1) 2 Br-2 Ba. Typical unit features consist of stainless steel appliances, wood cabinets, granite countertops, and hardwood/LVT/carpet flooring. Current ownership renovated all but 2 units between 2018 and 2024 and completed a handful of capital improvements such as full and partial roof replacements an a central hot water heater replacement.
The opportunity exists for a new owner to organically increase rents at W Monument Street Apartments, as they are currently under market. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least 10% higher on average than the Subject property. There is also an ability for a new owner to renovate the 2 remaining classic units.
W Monument Street Apartments features 34 units with a mix of (2) Studios, (30) 1 Br-1 Ba, (1) 2 Br-1 Ba, and (1) 2 Br-2 Ba. Typical unit features consist of stainless steel appliances, wood cabinets, granite countertops, and hardwood/LVT/carpet flooring. Current ownership renovated all but 2 units between 2018 and 2024 and completed a handful of capital improvements such as full and partial roof replacements an a central hot water heater replacement.
The opportunity exists for a new owner to organically increase rents at W Monument Street Apartments, as they are currently under market. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least 10% higher on average than the Subject property. There is also an ability for a new owner to renovate the 2 remaining classic units.
Property Facts
| Cap Rate | 7.11% | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 18,000 SF |
| Status | Active | Total Land Area | 0.30 AC |
| Number of Properties | 2 |
| Cap Rate | 7.11% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 18,000 SF |
| Total Land Area | 0.30 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 107-109 W Monument St, Baltimore, MD 21201 | Multifamily | 10,000 SF | 1900 | - |
| 115 W Monument St, Baltimore, MD 21201 | Multifamily | 8,000 SF | 1880 | - |
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W Monument Street Apartments
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