Russell Apartments
Baltimore, MD
The Offering
Offering Details
- Price $975,000
- Price/Unit $81,250
- # of Units 12
- Year Built 1910
- # of Parking Spaces 12
2012 Russell Ave. | Woodlawn, MD 21207
Harbor Stone Advisors is pleased to present the opportunity to acquire Russell Apartments, a mid-sized multifamily asset located in Baltimore County. The property consists of 12 units with a unit mix of (5) 1 Br-1 Ba, (5) 2 Br-1 Ba, and (2) 3 Br-2 Ba. Typical unit features include white/black/stainless steel appliances, wood cabinets, formica/granite countertops, and carpet/wood/laminate flooring. There is also a surface parking lot with 12 parking spaces.
Current ownership gut renovated half of the units at Russell Apartments in 2022 with updated appliances, resurfaced countertops, updated flooring, new bathroom vanities, and updated plumbing and electric. The opportunity exists for a new owner to continue this renovation on the remaining 6 classic units. Comparable properties nearby are currently achieving rents $500 higher on average than the Subject property. Additionally, a new owner can implement a utility reimbursement program upon renewal and/or new lease and evaluate the potential to charge for parking.
