For Sale $2,523,510
Property Type Other
Property Size 12,530 SF
Units 16
Additional Rent Contact for pricing
Date Updated Nov 4, 2024

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

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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)

Contacts

Location

Getting Around

Walk Score ®
99/100 Walker's Paradise
Transit Score ®
100/100 Rider's Paradise
Bike Score ®
73/100 Very Bikeable

Map
Street

City Baltimore, MD
Neighborhood Mount Vernon
Zip Code 21201
Market Baltimore

Points of Interest

Mount Vernon

0.19 miles
Lexington Market

0.32 miles
Charles Center

0.45 miles
Baltimore Arena

0.52 miles
State Center

0.53 miles
Cultural Center

0.57 miles
Shot Tower

0.71 miles
Baltimore Penn Station

0.80 miles
Mount Royal / MICA

0.81 miles
Camden Station

0.86 miles

Gulf

0.34 miles
Exxon

0.42 miles
Front Street Fuel Station (Government only)

0.45 miles
ChargePoint

0.51 miles
Marathon

0.63 miles
Carroll Motor Fuels

0.64 miles
Sunoco

0.88 miles
BP

0.95 miles
US Fuel

1.01 miles
Maryland Science Center

1.07 miles

15 W. Franklin Street Garage

0.08 miles
Brown's Arcade Garage

0.21 miles
601 N Calvert Street Garage

0.22 miles
Monument Place Resident Parking

0.27 miles
The Bunting Garage

0.29 miles
McAuley Garage

0.29 miles
Maryland General Hospital Parking Garage

0.29 miles
Lot B

0.30 miles
210 St Paul Place Garage

0.31 miles
MAPS Employee Parking

0.32 miles

Hotel Indigo

0.06 miles
Revival Baltimore

0.10 miles
Hostelling International

0.15 miles
Home2 Suites

0.19 miles
Biltmore Suites Hotel - Park Avenue Building

0.20 miles
Biltmore Suites Hotel - Main Building

0.20 miles
La Quinta Inn & Suites Baltimore Downtown

0.22 miles
Midtown Inn

0.22 miles
Ulysses

0.27 miles
La Quinta

0.27 miles

Cozy Corner

0.01 miles
Warehouse No. 518

0.03 miles
The Civil

0.05 miles
Trinacria's

0.09 miles
Topside

0.09 miles
Tio Pepe Restaurante

0.10 miles
Chung Chun

0.10 miles
The Local Oyster

0.11 miles
Poke 2U

0.11 miles
Sbread

0.11 miles

The Peabody Institute of Johns Hopkins

0.09 miles
New Foundations Mansef School

0.12 miles
Baltimore School For The Arts

0.13 miles
Grace and Saint Peters School

0.15 miles
Downtown Baltimore Child Care / Park Avenue

0.22 miles
Saint Alphonsus School

0.24 miles
Saint Marys Seminary

0.37 miles
Academy of Languages

0.48 miles
New Hope Academy

0.50 miles
S C Taylor Elementary School

0.54 miles

Charles Plaza Child Care & Development

0.24 miles
All My Children Child Care Center

0.34 miles
Downtown Baltimore Child Care, Inc.

0.53 miles
Bolton Hill Nursery

0.79 miles
Saint Vincent de Paul Head Start

1.25 miles
Dayspring Head Start Harford Heights

1.73 miles
The Waverly Early Head Start Center of Goodwill

2.10 miles
Kiddie Academy

2.11 miles
Dynamic Deliverance Childcare Center

2.13 miles
Homewood Early Learning Center

2.14 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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