- For Sale $975,000
- Property Type Other
- Property Size 8,403 SF
- Units 12
- Year Built 1910
- Date Updated Apr 17, 2024
- Website russellapartments.sharplaunch.com
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.
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Attachments
Highlights
- Opportunity to Acquire a Mid-Sized Multifamily Asset in Baltimore County
- 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
- Ability to Continue Existing Renovation and Further Increase Rents
- Opportunity exists for a new owner to continue renovation on the remaining 6 classic units
- Comparable properties nearby are currently achieving rents $500 higher on average than the Subject property
- A new owner can also implement a utility reimbursement program upon renewal and/or new lease and evaluate the potential to charge for parking
- Excellent Location in Woodlawn, MD
- Property is located minutes from major highways with direct access to Downtown Baltimore
- Major area employers nearby: Social Security Administration (SSA), the Centers for Medicare and Medicaid Services
- Major area colleges nearby: University of Maryland Baltimore County (UMBC), Coppin State University, Baltimore City Community College
False
Contacts
Justin Verner
Harbor Stone Advisors
(410) 960-3962
Brooks Healy
Harbor Stone Advisors
(443) 523-6865
Shana Callahan
Harbor Stone Advisors
Todd Galvin
Harbor Stone Advisors
Tom Wohlgemuth
Harbor Stone Advisors
(240) 444-4656
Location
Getting Around
-
Walk Score ®
Somewhat Walkable (55) -
Transit Score ®
Good Transit (68) -
Bike Score ®
Somewhat Bikeable (45)
- City Woodlawn, MD
- Neighborhood Dorchester
- Zip Code 21207
- Market Baltimore
Points of Interest
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West Cold Spring
0.67 miles
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Rogers Avenue
0.80 miles
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Reisterstown Plaza
1.60 miles
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Cold Spring Lane
2.08 miles
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Mondawmin
2.08 miles
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Woodberry
2.23 miles
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Milford Mill
2.58 miles
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Penn–North
2.82 miles
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Mount Washington
2.92 miles
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West Baltimore
3.32 miles
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BP
0.49 miles
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Crown
0.50 miles
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BP
0.56 miles
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Marathon
0.56 miles
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Carroll Motor Fuels
0.57 miles
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CIF
1.02 miles
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Exxon
1.06 miles
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Shell
1.13 miles
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Crown
1.19 miles
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Exxon
1.24 miles
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C
1.55 miles
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D
1.62 miles
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Cylburn Parking Garage
1.71 miles
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Lot E2
1.87 miles
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Lot J
1.89 miles
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Lot E1
1.89 miles
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Lot E3
1.92 miles
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Lot F
1.97 miles
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Lot D
2.01 miles
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Lot G
2.03 miles
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Peking Court
0.89 miles
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McDonald's
0.96 miles
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McDonald's
1.03 miles
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Halal Foods
1.09 miles
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Subway
1.09 miles
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Sumo Hibachi
1.10 miles
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New York Fried Chicken
1.11 miles
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KT's Kitchen
1.12 miles
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Pimlico Chinese Carry Out
1.13 miles
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Dunkin'
1.20 miles
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George W McMechen Middle/High School
0.19 miles
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Garrison Middle School
0.19 miles
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Forest Park High School
0.30 miles
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Callaway Elementary School
0.38 miles
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All Saints School
0.43 miles
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Boykin's Karate Academy
0.46 miles
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Maarifa Children's Center
0.50 miles
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New Madenah Academy
0.54 miles
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Langston Hughes Elementary School
0.56 miles
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Calvin Rodwell Elementary School
0.59 miles
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The New Rogers Avenue Day Nursery
0.58 miles
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Kiddie Calvert
2.57 miles
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Homewood Early Learning Center
3.27 miles
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Goddard
3.67 miles
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Children of Victory Learning Center
3.67 miles
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Bolton Hill Nursery
3.83 miles
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Mema's Early Learning Center LLC, License
4.04 miles
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Bright Stars Learning Center
4.05 miles
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Downtown Baltimore Child Care, Inc.
4.34 miles
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All My Children Child Care Center
4.59 miles