Clarksview Apartments
34 Unit Apartment Building | For Sale | Baltimore, MD 21215
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Multifamily
- Square Feet
- 43,474 SF
Listing Contacts
Justin Verner
Verified Profile
Brooks Healy
Verified Profile
Tom Wohlgemuth
Verified Profile
- Property Info
Property Overview
Auction to be held on Auctioneers website. Bidding begins Thursday, August 22nd & ends Tuesday, August 27th, 2024 at 2:00 pm.
Harbor Stone Advisors and Alex Cooper Auctioneers are pleased to present Clarksview Apartments, a multifamily asset with value add potential in Upper Park Heights. The property is located near the Baltimore County line with easy access to Downtown Baltimore and neighboring areas such as Pikesville and Mt. Washington. Clarksview Apartments features expansive floorplans with a unit mix of (30) 2 Br-1 Ba and (4) 3 Br-1.5 Ba units. Property amenities include a surface parking lot, balconies for some units, and on-site laundry facility. Typical unit features consist of white appliances, formica countertops, wood cabinets, and carpet/laminate/tile flooring. Clarksview Apartments also has 8 NEDs units as part of a HAP contract that runs through February 2027. They are rented as 1 Br-1 Ba units but are true 2 Br-1 Ba units.
The opportunity exists for a new owner to renovate all of the units at Clarksview Apartments, with a suggested scope of black/stainless steel appliances, granite countertops, updated bathrooms, plank flooring throughout, and modern hardware/fixtures. Comparable properties nearby are achieving rents at least $300 higher on average than the Subject property. Other value add opportunities include converting the NEDs units to market rate 2 bedrooms at HAP contract expiration, renovating the down unit to either a 2 bedroom or office unit, and adding an amenity to the green space such as a dog park or playground.
Harbor Stone Advisors and Alex Cooper Auctioneers are pleased to present Clarksview Apartments, a multifamily asset with value add potential in Upper Park Heights. The property is located near the Baltimore County line with easy access to Downtown Baltimore and neighboring areas such as Pikesville and Mt. Washington. Clarksview Apartments features expansive floorplans with a unit mix of (30) 2 Br-1 Ba and (4) 3 Br-1.5 Ba units. Property amenities include a surface parking lot, balconies for some units, and on-site laundry facility. Typical unit features consist of white appliances, formica countertops, wood cabinets, and carpet/laminate/tile flooring. Clarksview Apartments also has 8 NEDs units as part of a HAP contract that runs through February 2027. They are rented as 1 Br-1 Ba units but are true 2 Br-1 Ba units.
The opportunity exists for a new owner to renovate all of the units at Clarksview Apartments, with a suggested scope of black/stainless steel appliances, granite countertops, updated bathrooms, plank flooring throughout, and modern hardware/fixtures. Comparable properties nearby are achieving rents at least $300 higher on average than the Subject property. Other value add opportunities include converting the NEDs units to market rate 2 bedrooms at HAP contract expiration, renovating the down unit to either a 2 bedroom or office unit, and adding an amenity to the green space such as a dog park or playground.
Property Details
- Class
- C
- Year Built
- 1954
- Stories
- 2
- Lot Size (sq. ft)
- 85,813 SF
- Units
- 34
Highlights
- Multifamily Asset with Value Add Potential in Upper Park Heights
- Significant Potential to Increase Rents Via Renovation Program
- Excellent Location Near Baltimore County Line
Nearby Properties
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