- For Sale $1,339,200
- Property Type Other
- Units 10
- Additional Rent Contact for pricing
- Date Updated Dec 18, 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.
Reach out to the broker for more info on lease terms and amenities
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)
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 ®
78/100
Very Bikeable
- City Baltimore, MD
- Neighborhood Mount Vernon
- Zip Code 21202
- Market Baltimore
Points of Interest
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Mount Vernon
0.30 miles
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Cultural Center
0.42 miles
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State Center
0.46 miles
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Lexington Market
0.53 miles
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Baltimore Penn Station
0.59 miles
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Mount Royal / MICA
0.62 miles
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Charles Center
0.64 miles
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Baltimore Arena
0.75 miles
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Shot Tower
0.81 miles
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North Avenue
0.97 miles
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Carroll Motor Fuels
0.42 miles
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Front Street Fuel Station (Government only)
0.52 miles
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Gulf
0.53 miles
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Exxon
0.60 miles
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Marathon
0.63 miles
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ChargePoint
0.74 miles
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BP
0.95 miles
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Oceanic
0.98 miles
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US Fuel
1.01 miles
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Sunoco
1.10 miles
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Park PMI
0.19 miles
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601 N Calvert Street Garage
0.20 miles
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Lot A
0.23 miles
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Lot B
0.24 miles
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PNC Bank
0.25 miles
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Cathedral Street Lot
0.29 miles
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15 W. Franklin Street Garage
0.30 miles
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Maryland General Hospital Parking Garage
0.30 miles
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Maryland Avenue Garage
0.31 miles
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Monument Place Resident Parking
0.33 miles
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Ulysses
0.05 miles
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Midtown Inn
0.08 miles
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Revival Baltimore
0.16 miles
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Biltmore Suites Hotel - Park Avenue Building
0.19 miles
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Biltmore Suites Hotel - Main Building
0.21 miles
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Belvedere
0.21 miles
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Hotel Brexton
0.24 miles
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Hotel Indigo
0.28 miles
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The Ivy Hotel
0.32 miles
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Hostelling International
0.37 miles
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Indigma
0.03 miles
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Subway
0.03 miles
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Never on Sunday
0.03 miles
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The Helmand
0.04 miles
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Khun Nine Thai
0.04 miles
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San Pablo Street Tacos
0.05 miles
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Mount Vernon Stable
0.07 miles
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Kumari
0.07 miles
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Nepal House
0.09 miles
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Iggie's
0.11 miles
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Baltimore School For The Arts
0.15 miles
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Grace and Saint Peters School
0.18 miles
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The Peabody Institute of Johns Hopkins
0.18 miles
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Downtown Baltimore Child Care / Park Avenue
0.18 miles
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New Foundations Mansef School
0.28 miles
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Saint Frances Academy
0.42 miles
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Saint Alphonsus School
0.47 miles
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Gordon Plaza
0.47 miles
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University of Baltimore
0.48 miles
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Saint Marys Seminary
0.49 miles
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All My Children Child Care Center
0.17 miles
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Charles Plaza Child Care & Development
0.45 miles
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Bolton Hill Nursery
0.65 miles
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Downtown Baltimore Child Care, Inc.
0.72 miles
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Saint Vincent de Paul Head Start
1.07 miles
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Dayspring Head Start Harford Heights
1.53 miles
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The Waverly Early Head Start Center of Goodwill
1.87 miles
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Play Workz Learning Center
1.93 miles
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Homewood Early Learning Center
1.95 miles
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Dynamic Deliverance Childcare Center
2.05 miles
Frequently Asked Questions
The space currently listed for sale at Madison Lofts asks for $1,339,200.
Madison Lofts totals 6,420 square feet.
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