MULTIFAMILY FOR SALE EBI RENTAL TOWNHOME...
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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. Steve Weiss Senior Vice President 443.741.4051 [email protected] 10480 Little Patuxent Pkwy, Suite 210 Columbia, MD 21044 410.712.0888 www.lee-associates.com SALE PRICE: $8,369,150 (9.0% CAP on In-place N.O.I.) ECONOMIC DATA COUNTY: Baltimore City MARKET: Baltimore SUBMARKET: Baltimore Overall PROPERTY INFORMATION TOTAL BUILDING SF:100,000 SF YEAR BUILT: 1910 YEAR RENOVATED: 2015 UNITS: 81 (All 2 Bedroom or greater) BUILDING DATA PROPERTY HIGHLIGHTS • A third party one year warranty covering roofs, electrical, plumbing, heating and cooling systems will be provided to purchaser at closing • Sales price is below residential retail pricing for individual townhomes (25 Recent Appraisals in hand) • Uncommonly, high tenant retention (Avg 3.5 years) resulting in low turnover expenses • Expertly renovated units • 98.76% occupancy • 38% of rents are wired in on 1st of each month from a federal agency • Low maintenance interiors • Highly efficient floor plans • Majority of properties have low to no maintenance masonry exteriors • Expert management available who is familiar with each property • Irreplaceable assemblage of handpicked properties • Walkable access to public transportation systems • 8.5% Cap on 95% occupancy (using a 5.0% General Vacancy Deduction) • Excellent economies of scale on insurance and other expenses • All separately metered properties with utilities in tenants names EBI RENTAL TOWNHOME PORTFOLIO Available: Approx. 100,000 SF 412 S Wolfe St, Baltimore, MD 21231 MULTIFAMILY FOR SALE
Transcript of MULTIFAMILY FOR SALE EBI RENTAL TOWNHOME...
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same issubmitted to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice.No liability of any kind is to be imposed on the broker herein.
Steve WeissSenior Vice [email protected]
10480 Little Patuxent Pkwy, Suite 210 Columbia, MD 21044 410.712.0888 www.lee-associates.com
SALE PRICE: $8,369,150 (9.0% CAP onIn-place N.O.I.)
ECONOMIC DATA
COUNTY: Baltimore CityMARKET: BaltimoreSUBMARKET: Baltimore Overall
PROPERTY INFORMATION
TOTAL BUILDING SF:100,000 SFYEAR BUILT: 1910YEAR RENOVATED: 2015UNITS: 81 (All 2 Bedroom or
greater)
BUILDING DATA
PROPERTY HIGHLIGHTS
• A third party one year warranty covering roofs, electrical, plumbing, heating and coolingsystems will be provided to purchaser at closing
• Sales price is below residential retail pricing for individual townhomes (25 RecentAppraisals in hand)
• Uncommonly, high tenant retention (Avg 3.5 years) resulting in low turnover expenses
• Expertly renovated units
• 98.76% occupancy
• 38% of rents are wired in on 1st of each month from a federal agency
• Low maintenance interiors
• Highly efficient floor plans
• Majority of properties have low to no maintenance masonry exteriors
• Expert management available who is familiar with each property
• Irreplaceable assemblage of handpicked properties
• Walkable access to public transportation systems
• 8.5% Cap on 95% occupancy (using a 5.0% General Vacancy Deduction)
• Excellent economies of scale on insurance and other expenses
• All separately metered properties with utilities in tenants names
• Easy access to highway network (State and Interstate)
• City desires to lower property taxes over 10 year period
• Close proximity to CBD Baltimore
• Close proximity to two Johns Hopkins Hospitals and Johns Hopkins University
• Flexibility with exit strategy to sell singly or as a portfolio
• Existing Baltimore City home sales are up 6.0% (September 2016 - September 2017)
• Median price of existing Baltimore City home sales are up 7.0% to $136,000 (September2016- September 2017)
• Baltimore rents have increased 3.0% (September 2016 - September 2017)
• Baltimore City’s population grew by 0.3% in the last 12 months
• The number of active/available Baltimore City Townhome listings declined 14.0% (March2016- March 2017)
• Baltimore Metro townhome prices are up 1.6% to $189,000 (March 2016- March 2017)
EBI RENTAL TOWNHOME PORTFOLIO
Available: Approx. 100,000 SF412 S Wolfe St, Baltimore, MD 21231
MULTIFAMILY FOR SALE
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same issubmitted to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice.No liability of any kind is to be imposed on the broker herein.
Steve WeissSenior Vice [email protected]
10480 Little Patuxent Pkwy, Suite 210 Columbia, MD 21044 410.712.0888 www.lee-associates.com
EBI RENTAL TOWNHOME PORTFOLIO
Available: 100,000 SF412 S Wolfe St, Baltimore, MD 21231
MULTIFAMILY FOR SALE
