Lofts at the Daily Record | 11-15 E Saratoga St
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Lofts at the Daily Record 11-15 E Saratoga St
20 Unit Block of Flats £1,863,758 (£93,188/Unit) Baltimore, MD 21202
Investment Highlights
- Opportunity to Acquire a Gut-Renovated, Landmark Asset in Downtown Baltimore
- Excellent Location in Downtown Baltimore; Across the Street from Mercy Medical Center
- Minimal Deferred Maintenance and Potential to Increase Rental Revenue
Executive Summary
Harbor Stone Advisors is pleased to present the opportunity to acquire the Lofts at Daily Record, a gut renovated asset located in Downtown Baltimore. The property is located across the street from Mercy Medical Center and is less than a mile away from the University of Maryland, Baltimore.
The Lofts at Daily Record features 20 apartments with a mix of (3) Studios, (13) 1 Br-1 Ba, and (4) 2 Br-1 Ba. Prior ownership completed a gut renovation of the property in 2018 which included converting The Daily Record newspaper's former office to luxury-style apartments. Typical apartment unit features include stainless steel appliances, granite countertops, wood cabinets, vinyl plank/tile flooring, and washer/dryers in some units. In addition to the interior renovations, current ownership also updated all mechanical systems.
The opportunity exists for a new owner to focus on organic rent growth at the Lofts at Daily Record. Comparable properties nearby are achieving rents at least $200 higher on average compared to the Subject property.
The Lofts at Daily Record features 20 apartments with a mix of (3) Studios, (13) 1 Br-1 Ba, and (4) 2 Br-1 Ba. Prior ownership completed a gut renovation of the property in 2018 which included converting The Daily Record newspaper's former office to luxury-style apartments. Typical apartment unit features include stainless steel appliances, granite countertops, wood cabinets, vinyl plank/tile flooring, and washer/dryers in some units. In addition to the interior renovations, current ownership also updated all mechanical systems.
The opportunity exists for a new owner to focus on organic rent growth at the Lofts at Daily Record. Comparable properties nearby are achieving rents at least $200 higher on average compared to the Subject property.
Property Facts
| Price | £1,863,758 | Lot Size | 0.13 AC |
| Price Per Unit | £93,188 | Building Size | 18,360 SF |
| Sale Type | Investment | Average Occupancy | 75% |
| No. Units | 20 | Number of Floors | 4 |
| Property Type | Residential | Year Built/Renovated | 1900/2018 |
| Property Subtype | Apartment | Tenancy | Single |
| Apartment Style | Mid Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | £1,863,758 |
| Price Per Unit | £93,188 |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 18,360 SF |
| Average Occupancy | 75% |
| Number of Floors | 4 |
| Year Built/Renovated | 1900/2018 |
| Tenancy | Single |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 13 | - | 500 - 750 |
| 2+1 | 4 | - | 700 - 750 |
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Walk Score ®
Walker's Paradise (99)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 04-01-0608-007 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £1,301,258 |
PROPERTY TAXES
Parcel Number
04-01-0608-007
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,301,258
zoning
| Zoning Code | C-5-DC |
| C-5-DC |
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Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Harbor Stone Advisors
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Lofts at the Daily Record | 11-15 E Saratoga St
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