For Sale $1,339,200
Property Type Other
Units 10
Additional Rent Contact for pricing
Date Updated Nov 4, 2024

712 Saint Paul St. | Baltimore, MD 21202

Harbor Stone Advisors is pleased to present Madison Lofts, a well-maintained multifamily asset with value-add opportunity located in Historic Mount Vernon. The property is located a 3 minute walk away from the Peabody Institute of the Johns Hopkins University, a private music and dance conservatory. Madison Lofts is also less than a 10 minute walk away from UMMC Midtown Campus and Mercy Medical Center, two of the top employers in Baltimore City.

The property features 10 apartments with a unit mix of (2) Studios, (5) 1 Br-1 Ba, and (3) 2 Br-2 Ba. Typical unit features consist of white appliances, wood cabinets, formica countertops, and hardwood/tile flooring. Prior ownership completed a renovation of the property in 2010 which included apartment upgrades as well as updated electric, plumbing, and windows. Current ownership replaced the main water line and restored the basement unit.

The opportunity exists for a new owner to perform a light upgrade to all units with a suggested scope of stainless steel appliances and granite countertops. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least $300 higher on average than the Subject property.

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Highlights

Opportunity to Acquire a Well Maintained Asset in Mount Vernon
Features 10 apartments with a unit mix of (2) Studios, (5) 1 Br-1 Ba, and (3) 2 Br-2 Ba
Typical unit features consist of white appliances, wood cabinets, formica countertops, and hardwood/tile flooring
Prior ownership completed a renovation of the property in 2010 which included apartment upgrades as well as updated electric, plumbing, and windows; current ownership replaced the main water line and restored the basement unit.
Ability to Create Value and Increase Rents Via Light Renovation Program
Opportunity exists for a new owner to perform a light upgrade to all units with a suggested scope of stainless steel appliances and granite countertops
Potential to increase rents at least 20% based on nearby rent comparables
Excellent Location in Historic Mount Vernon
Ranked a Walker's Paradise by WalkScore
Major area employers nearby: University of Maryland Medical Center Midtown Campus, Maryland State Offices, and Mercy Medical Center
Major area colleges nearby: University of Baltimore, Peabody Institute of The Johns Hopkins University, 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 ®
78/100 Very Bikeable

Map
Street

City Baltimore, MD
Neighborhood Mount Vernon
Zip Code 21202
Market Baltimore

Points of Interest

Mount Vernon

0.30 miles
Cultural Center

0.42 miles
State Center

0.46 miles
Lexington Market

0.53 miles
Baltimore Penn Station

0.59 miles
Mount Royal / MICA

0.62 miles
Charles Center

0.64 miles
Baltimore Arena

0.75 miles
Shot Tower

0.81 miles
North Avenue

0.97 miles

Carroll Motor Fuels

0.42 miles
Front Street Fuel Station (Government only)

0.52 miles
Gulf

0.53 miles
Exxon

0.60 miles
Marathon

0.63 miles
ChargePoint

0.74 miles
BP

0.95 miles
Oceanic

0.98 miles
US Fuel

1.01 miles
Sunoco

1.10 miles

Park PMI

0.19 miles
601 N Calvert Street Garage

0.20 miles
Lot A

0.23 miles
Lot B

0.24 miles
PNC Bank

0.25 miles
Cathedral Street Lot

0.29 miles
15 W. Franklin Street Garage

0.30 miles
Maryland General Hospital Parking Garage

0.30 miles
Maryland Avenue Garage

0.31 miles
Monument Place Resident Parking

0.33 miles

Ulysses

0.05 miles
Midtown Inn

0.08 miles
Revival Baltimore

0.16 miles
Biltmore Suites Hotel - Park Avenue Building

0.19 miles
Biltmore Suites Hotel - Main Building

0.21 miles
Belvedere

0.21 miles
Hotel Brexton

0.24 miles
Hotel Indigo

0.28 miles
The Ivy Hotel

0.32 miles
Hostelling International

0.37 miles

Indigma

0.03 miles
Subway

0.03 miles
Never on Sunday

0.03 miles
The Helmand

0.04 miles
Khun Nine Thai

0.04 miles
San Pablo Street Tacos

0.05 miles
Mount Vernon Stable

0.07 miles
Kumari

0.07 miles
Nepal House

0.09 miles
Iggie's

0.11 miles

Baltimore School For The Arts

0.15 miles
Grace and Saint Peters School

0.18 miles
The Peabody Institute of Johns Hopkins

0.18 miles
Downtown Baltimore Child Care / Park Avenue

0.18 miles
New Foundations Mansef School

0.28 miles
Saint Frances Academy

0.42 miles
Saint Alphonsus School

0.47 miles
Gordon Plaza

0.47 miles
University of Baltimore

0.48 miles
Saint Marys Seminary

0.49 miles

All My Children Child Care Center

0.17 miles
Charles Plaza Child Care & Development

0.45 miles
Bolton Hill Nursery

0.65 miles
Downtown Baltimore Child Care, Inc.

0.72 miles
Saint Vincent de Paul Head Start

1.07 miles
Dayspring Head Start Harford Heights

1.53 miles
The Waverly Early Head Start Center of Goodwill

1.87 miles
Play Workz Learning Center

1.93 miles
Homewood Early Learning Center

1.95 miles
Dynamic Deliverance Childcare Center

2.05 miles

Frequently Asked Questions

How much does Madison Lofts cost?

The space currently listed for sale at Madison Lofts asks for $1,339,200.

What is the total square footage of Madison Lofts?

Madison Lofts totals 6,420 square feet.

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