Washington Street Apartments

207 S Washington St. Baltimore, MD 21231

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
Please Call Broker for Price

Last Verified:
Oct 11, 2018

Highlights

  • Located in Premier Neighborhood of Fells Point
  • Upscale Neighboring Communities
  • Close Proximity to Major Employers Including Johns Hopkins, Kennedy Krieger, and Exelon
  • 2016 Gut Renovated, Turn Key Asset
  • Luxury Finishes
  • Lead-Free

Description

Washington Street Apartments, located at 207 South Washington Street, represent an opportunity to acquire a 2016 gut renovated, turn-key asset in desirable Upper Fells Point. The property is comprised of (2) 1 Br-1 Ba units and (2) 2 Br-2 Ba units with an average rent of $1,600.

Each unit contains an open living space with new hardwood floors, carpeted bedrooms, ceramic tile bathrooms, modern kitchens with granite counter tops and stainless steel appliances, in-unit laundry, central HVAC, and a rooftop deck for tenant use. The property has updated electric and plumbing and replacement vinyl windows. Certified lead-free property.

Washington Street Apartments are located in the Southeast Baltimore neighborhood of Fells Point. Established in 1763, this historic neighborhood contains an abundance of boutiques, bars, restaurants, and live music that are accented with beautiful cobblestone streets. This prominent neighborhood is nestled on the outer harbor and roughly just two miles from Baltimore's downtown district. With a Walk Score of 98, this neighborhood is ranked a "Walker's Paradise".

The neighborhood sits adjacent to the premier waterfront neighborhoods of Canton and Harbor Point. At the conclusion of development, Harbor Point will feature three million square feet of mixed-use space on twenty-seven acres, including nine and a half acres of waterfront parks.

The top employer of the area is the world-renowned Johns Hopkins Hospital, which is separated by just a few blocks from the subject property. Johns Hopkins has sat comfortably as the top-ranked hospital in the nation, per US News & World Report, for the past 22 years and employs 19,340 people. In addition, Johns Hopkins also has four graduate schools located in the area: the School of Medicine, School of Nursing, Bloomberg School of Public Health, and Carey School of Business.

Kennedy Krieger is another major employer of the area, employing roughly 2,417 individuals. Krieger is an internationally recognized institution which seeks to improve the lives of children and adults with developmental disabilities. Other major employers in the area include Exelon, H&S Bakery, and Laureate Education.


Year Built: 1900
Building Size: 4090.0sq ft
Lot Size: 0.0 acres

Map of 207 S Washington St., Baltimore, MD, 21231

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.