The Gilman

3025-3043 N Calvert St, Baltimore, MD 21218

3025-3043 N Calvert St. | Baltimore, MD 21218

Harbor Stone Advisors is pleased to present The Gilman, a well-maintained multifamily asset with value-add opportunity located in Charles Village. The property is located just blocks away from the John Hopkins University, one of the most prestigious universities in the country. The Gilman is also a short walk away from multiple JHU shuttle stops. The JHU Shuttle not only makes stops at the main university campus, but also stops at Penn Station, Johns Hopkins Hospital, and the Peabody Institute of the Johns Hopkins University.

The property features 29 apartments with a unit mix of (2) 1 Br-1 Ba, (21) 2 Br-1 Ba, and (6) 3 Br-1 Ba. Typical unit features consist of black/white appliances, wood cabinets, formica/granite countertops, and hardwood flooring. The Gilman also has 15 surface parking spaces. Prior and current ownership has updated the majority of units between 2020 and 2023 with a varied scope based on the condition of the units at turn. Other capital improvements include complete update of the electrical system, installation of HVAC in all units, balcony replacements, update of common areas and hallways, and the addition of access controlled locks.

The opportunity exists for a new owner to renovate the 3 remaining classic units and perform a light upgrade to the other units with a suggested scope of stainless steel appliances and granite countertops. Comparable properties nearby are achieving rents at least $260 higher on average. There is also an ability to add washer/dryers to the remaining 10 units without and implement a water reimbursement program. Additionally, a new owner can evaluate the possibility of adding a third bedroom in 14 of the 2 bedroom units which could generate an additional $7,000+ annually.

94 Walk Score of 3025 North Calvert Street Baltimore MD 21218

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Attachments

Highlights

  • Opportunity to Acquire a Well Maintained Asset in Charles Village
  • Features 29 apartments with a unit mix of (2) 1 Br-1 Ba, (21) 2 Br-1 Ba, and (6) 3 Br-1 Ba
  • Typical unit features consist of black/white appliances, wood cabinets, formica countertops, and hardwood flooring
  • Property also has 15 surface parking spaces
  • Prior and current ownership has updated the majority of units between 2020 and 2023 with a varied scope based on the condition of the units at turn
  • Ability to Create Value and Increase Rents Via Light Renovation Program
  • Opportunity exists for a new owner to renovate the 3 remaining classic units and perform a light upgrade to the other units with a suggested scope of stainless steel appliances and granite countertops.
  • Potential to increase rents at least 15% based on nearby rent comparables
  • Ability to add washer/dryers to the remaining 10 units without and implement a water reimbursement program
  • Evaluate the possibility of adding a third bedroom in 14 of the 2 bedroom units which could generate an additional $7,000+ annually
  • Blocks Away from Johns Hopkins University and MedStar Union Memorial Hospital
  • Short walk away from multiple JHU shuttle stops which makes stops at the main university campus, but also stops at Penn Station, Johns Hopkins Hospital, and the Peabody Institute of the Johns Hopkins University.
  • Close proximity to neighboring areas such as Old Goucher, Hampden and Station North
  • Major area employers/colleges nearby: JHU, MedStar Union Memorial Hospital, Loyola University of Maryland, Morgan State University, University of Baltimore

Contacts

broker

Justin Verner

Harbor Stone Advisors

broker

Brooks Healy

Harbor Stone Advisors

broker

Tom Wohlgemuth

Harbor Stone Advisors

broker

Shana Sabie

Harbor Stone Advisors

broker

Todd Galvin

Harbor Stone Advisors

Location

Getting Around

  • Walk Score ®

    93/100 Walker's Paradise

  • Transit Score ®

    68/100 Good Transit

  • Bike Score ®

    76/100 Very Bikeable
Powered by Walk Score ®
  • City Baltimore, MD
  • Neighborhood Johns Hopkins Homewood
  • Zip Code 21218
  • Market Baltimore

Points of Interest

  • Mount Royal / University of Baltimore

    1.21 miles

  • Upton

    1.73 miles

  • Centre Street

    1.94 miles

  • Charles Center

    2.42 miles

  • Shot Tower/Market Place

    2.49 miles

  • Baltimore Arena

    2.49 miles

  • Shot Tower

    2.50 miles

  • Camden Station

    2.84 miles

  • Camden Street

    2.87 miles

  • West Cold Spring

    3.02 miles

  • Exxon

    0.48 miles

  • eVgo

    0.51 miles

  • Carroll Motor Fuels

    0.52 miles

  • Crown

    0.53 miles

  • US Fuel

    0.54 miles

  • Sunoco

    0.69 miles

  • American Fuel

    0.82 miles

  • Oceanic

    0.83 miles

  • Marathon

    1.02 miles

  • Carroll Motor Fuels

    1.21 miles

  • Baltimore Police Department Parking

    0.26 miles

  • R. House Parking

    0.27 miles

  • West Garage

    0.45 miles

  • Brown Rice Parking

    0.58 miles

  • Johns Hopkins at Keswick Parking Garage (Employee Only)

    0.86 miles

  • Theatre Parking

    1.07 miles

  • Fitzgerald Garage

    1.18 miles

  • Area D

    1.20 miles

  • Penn Station Parking Garage

    1.25 miles

  • Guest Parking

    1.37 miles

  • Inn at the Collonade

    0.65 miles

  • Motel 6

    0.93 miles

  • Downtown Hotel

    1.41 miles

  • The Ivy Hotel

    1.50 miles

  • Belvedere

    1.57 miles

  • Hotel Brexton

    1.63 miles

  • Biltmore Suites Hotel - Park Avenue Building

    1.83 miles

  • Biltmore Suites Hotel - Main Building

    1.83 miles

  • Revival Baltimore

    1.90 miles

  • Hotel Indigo

    2.05 miles

  • Gertrude's

    0.12 miles

  • Boz’s Burgers

    0.14 miles

  • nuVegan Cafe

    0.14 miles

  • Sakoon Indian Fusion Restaurant

    0.15 miles

  • Orient Express

    0.15 miles

  • TKK Fried Chicken

    0.16 miles

  • Ajumma

    0.18 miles

  • Chipotle

    0.19 miles

  • Döner Brös

    0.20 miles

  • Potbelly

    0.20 miles

  • Johns Hopkins University School of Education

    0.17 miles

  • Barclay Elementary School

    0.32 miles

  • Johns Hopkins University

    0.34 miles

  • The Community School

    0.36 miles

  • Margaret Brent Elementary/Middle School

    0.37 miles

  • Career Academy

    0.59 miles

  • Baltimore Lab School

    0.68 miles

  • Gateway School

    0.70 miles

  • Waverly Career Center

    0.72 miles

  • Venable High School

    0.72 miles

  • Homewood Early Learning Center

    0.37 miles

  • Bright Stars Learning Center

    0.99 miles

  • Mema's Early Learning Center LLC, License

    1.00 miles

  • Bolton Hill Nursery

    1.33 miles

  • Headstart, Harford Elementary School Modular

    1.58 miles

  • Saint Vincent de Paul Head Start

    1.63 miles

  • All My Children Child Care Center

    1.78 miles

  • Charles Plaza Child Care & Development

    2.22 miles

  • Downtown Baltimore Child Care, Inc.

    2.29 miles

  • Bright Beginnings

    2.34 miles

Frequently Asked Questions

How much does The Gilman cost?

The sale price for The Gilman is available upon request. Contact the listing broker for more information.

What is the total square footage of The Gilman?

The Gilman totals 30,156 square feet.

When was this property built?

The Gilman was built in 1894.

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