- For Sale $2,523,510
- Property Type Other
- Property Size 12,530 SF
- Units 16
- Additional Rent Contact for pricing
- Date Updated Sep 6, 2024
- Website cathedralcommons.sharplaunch.com
511-513 Cathedral St. | Baltimore, MD 21201
Harbor Stone Advisors is pleased to present the opportunity to acquire Cathedral Commons, a fully occupied, gut renovated asset located in Historic Mount Vernon. Residents at Cathedral Commons are just steps away from the arts, culture, nightlife, and dining that Mount Vernon has to offer. Mount Vernon Marketplace, a neighborhood food hall, and the Peabody Institute of The Johns Hopkins University are both a 3 minute walk away from the property.
Cathedral Commons features 16 apartments with a mix of (4) Studios and (12) 1 Br-1 Ba. There are also 10 off-street surface parking spaces on-site. Prior ownership completed a gut renovation of the property in 2013 which included unit renovations. Typical apartment unit features consist of white/stainless steel appliances, granite countertops, wood cabinets, hardwood/tile flooring, and in-unit washer/dryers in select units. In addition to interior renovations, prior ownership also updated all mechanical systems and replaced the windows. Current ownership converted the cooking power from gas to electric and replaced all of the ovens.
The opportunity exists for a new owner to focus on organic rent growth at Cathedral Commons. Comparable properties nearby are achieving rents $130 higher on average compared to the Subject property.
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Attachments
Highlights
- Opportunity to Acquire a Gut-Renovated Asset in Historic Mount Vernon
- Features 16 apartments with a mix of (4) Studios and (12) 1 Br-1 Ba
- Typical apartment unit features consist of white/stainless steel appliances, granite countertops, wood cabinets, hardwood/tile flooring, and in-unit washer/dryers in select units
- There are also 10 off-street surface parking spaces on-site
- Minimal Deferred Maintenance and Potential to Increase Rental Revenue
- Prior ownership completed a gut renovation of the property in 2013 which included unit renovations
- In addition to the interior renovations, current ownership also updated all mechanical systems and replaced the windows
- Opportunity exists for a new owner to focus on organic rent growth as similar properties nearby are achieving rents $130 higher on average
- Class A Midtown Location; 3 Minute Walk to the Peabody Institute of The Johns Hopkins University
- Ranked a Walker's Paradise by Walk Score, just steps away from dining, retail, and cultural attractions
- Close Proximity to Downtown Baltimore and Inner Harbor
- Major area employers nearby: University of Maryland Medical Center Midtown Campus, Agora Financial, and Mercy Medical Center
- Major area colleges nearby: Peabody Institute of The Johns Hopkins University, University of Maryland, Baltimore, University of Baltimore, and Maryland Institute College of Art (MICA)
False
Contacts
Location
Getting Around
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Walk Score ®
99/100
Walker's Paradise
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Transit Score ®
100/100
Rider's Paradise
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Bike Score ®
73/100
Very Bikeable
- City Baltimore, MD
- Neighborhood Mount Vernon
- Zip Code 21201
- Market Baltimore
Points of Interest
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Centre Street
0.19 miles
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Charles Center
0.45 miles
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Baltimore Arena
0.52 miles
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Shot Tower/Market Place
0.70 miles
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Shot Tower
0.71 miles
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Mount Royal / University of Baltimore
0.81 miles
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Camden Station
0.86 miles
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Camden Street
0.90 miles
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Upton
1.17 miles
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Hamburg Street
1.19 miles
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Gulf
0.34 miles
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Exxon
0.42 miles
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ChargePoint
0.51 miles
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BP
0.64 miles
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Sunoco
0.88 miles
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BP
0.95 miles
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Marathon
0.97 miles
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Maryland Science Center
1.07 miles
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Mystik
1.17 miles
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American Fuel
1.17 miles
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15 W. Franklin Street Garage
0.08 miles
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601 N Calvert Street Garage
0.22 miles
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Monument Place Resident Parking
0.27 miles
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The Bunting Garage
0.29 miles
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McAuley Garage
0.29 miles
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Maryland General Hospital Parking Garage
0.29 miles
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Lot B
0.30 miles
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210 St Paul Place Garage
0.31 miles
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MAPS Employee Parking
0.32 miles
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Lot C
0.33 miles
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Hotel Indigo
0.06 miles
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Revival Baltimore
0.10 miles
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Hostelling International
0.15 miles
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Home2 Suites
0.19 miles
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Biltmore Suites Hotel - Park Avenue Building
0.20 miles
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Biltmore Suites Hotel - Main Building
0.20 miles
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La Quinta Inn & Suites by Wyndham Baltimore Downtown
0.22 miles
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La Quinta
0.27 miles
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Embassy Suites
0.30 miles
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Quality Inn
0.37 miles
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Cozy Corner
0.01 miles
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Warehouse No. 518
0.03 miles
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Trinacria's
0.09 miles
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Topside
0.09 miles
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Tio Pepe Restaurante
0.10 miles
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Pinch
0.10 miles
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The Local Oyster
0.11 miles
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Cheezy Mike's
0.11 miles
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Mount Vernon Marketplace
0.12 miles
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The Burning Hen
0.12 miles
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The Peabody Institute of Johns Hopkins
0.10 miles
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New Foundations Mansef School
0.12 miles
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Baltimore School For The Arts
0.13 miles
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Grace and Saint Peters School
0.15 miles
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Downtown Baltimore Child Care / Park Avenue
0.22 miles
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Saint Alphonsus School
0.24 miles
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Saint Marys Seminary
0.37 miles
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Academy of Languages
0.48 miles
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New Hope Academy
0.50 miles
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S C Taylor Elementary School
0.54 miles
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Charles Plaza Child Care & Development
0.24 miles
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All My Children Child Care Center
0.34 miles
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Downtown Baltimore Child Care, Inc.
0.53 miles
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Bolton Hill Nursery
0.79 miles
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Saint Vincent de Paul Head Start
1.25 miles
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Headstart, Harford Elementary School Modular
1.73 miles
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Kiddie Academy
2.11 miles
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Dynamic Deliverance Childcare Center
2.13 miles
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Homewood Early Learning Center
2.14 miles
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Bright Beginnings
2.82 miles
Frequently Asked Questions
How much does Cathedral Commons cost?
The space currently listed for sale at Cathedral Commons asks for $2,523,510.
What is the total square footage of Cathedral Commons?
Cathedral Commons totals 12,530 square feet.
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