RevereCRE

Townhomes at River's Crossing

Deal Type: Acquisition

Risk Profiles: Core, Value-Add

Property Types: Multifamily

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TOWNHOMES AT RIVER'S CROSSING

41 Stemmers Run Rd. | Baltimore, MD 21221

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Rare Middle-Market Opportunity to Acquire a Townhome Community in Essex

41 Stemmers Run Rd. | Baltimore, MD 21221

Harbor Stone Advisors is pleased to present Townhomes at River’s Crossing, a rare middle-market investment opportunity located in Essex, MD. The property consists of (65) 2 Br-1 Ba townhomes and multiple amenities including a clubhouse with management office, fitness center, dog park, courtyard, laundry center, and on-site surface parking.

Current ownership has renovated 72% of the units at Townhomes at River’s Crossing with a scope of stainless steel appliances, resurfaced countertops, updated cabinets, updated bathrooms, and vinyl plank flooring. In addition to renovations, the current owner has also updated the landscaping, refreshed the dog park, and added new property signage.

The opportunity exists for a new owner to renovate the remaining 28% of classic units and increase rents. Similar properties in the area that have undergone renovations are achieving rents at least 15% higher on average. A new owner can also lease to more voucher tenants in order to generate even higher rents and certainty of rental income. Over the last few months, current ownership has leased renovated units to voucher tenants at rents $140 higher than those achieved by new market tenants.

Townhomes at River’s Crossing has pre-existing debt that can be assumed. The current loan balance is $9,716,000 with an interest rate of 5.31%. The loan matures in 2030 and I/O through March 2026.

41 Stemmers Run Rd. | Baltimore, MD 21221

Harbor Stone Advisors is pleased to present Townhomes at River’s Crossing, a rare middle-market investment opportunity located in Essex, MD. The property consists of (65) 2 Br-1 Ba townhomes and multiple amenities including a clubhouse with management office, fitness center, dog park, courtyard, laundry center, and on-site surface parking.

Current ownership has renovated 72% of the units at Townhomes at River’s Crossing with a scope of stainless steel appliances, resurfaced countertops, updated cabinets, updated bathrooms, and vinyl plank flooring. In addition to renovations, the current owner has also updated the landscaping, refreshed the dog park, and added new property signage.

The opportunity exists for a new owner to renovate the remaining 28% of classic units and increase rents. Similar properties in the area that have undergone renovations are achieving rents at least 15% higher on average. A new owner can also lease to more voucher tenants in order to generate even higher rents and certainty of rental income. Over the last few months, current ownership has leased renovated units to voucher tenants at rents $140 higher than those achieved by new market tenants.

Townhomes at River’s Crossing has pre-existing debt that can be assumed. The current loan balance is $9,716,000 with an interest rate of 5.31%. The loan matures in 2030 and I/O through March 2026.

INVESTMENT HIGHLIGHTS

Rare Middle-Market Opportunity to Acquire a Townhome Community in Essex

  • Property consists of (65) 2 Br-1 Ba townhomes

  •  Amenities include a clubhouse with management office, fitness center, dog park, courtyard, laundry center, and on-site surface parking 

  •  Current ownership has renovated 72% of the units with a scope of stainless steel appliances, resurfaced countertops, updated cabinets, updated bathrooms, and vinyl plank flooring 
Ability to Substantially Increase Rents at Least 15%
  • Opportunity exists for a new owner to renovate the remaining 28% of classic units and increase rents

  • Comparable properties nearby are achieving rents at least $200 higher on average

  • A new owner can also lease to more voucher tenants in order to generate even higher rents and certainty of rental income

In-Place Assumable Debt with an Interest Rate of 5.31% 

  • Townhomes at River’s Crossing has pre-existing debt that can be assumed

     

  • Current loan balance is $9,716,000 with an interest rate of 5.31%

  • Loan matures in 2030 and I/O through March 2026

Excellent Location in Baltimore County 

  • Easy access to I-695, I-95, and Route 40; 6 minute drive to Martin State Airport Marc Train Station

  • Adjacent to Renaissance Park which received more than $2 million in field renovations in 2024 

  • Major area employers nearby: Trade Point Atlantic, Port of Baltimore, ST Engineering MRAS, MedStar Franklin Square Medical Center, and CCBC Essex 

VALUE - ADD


Current ownership has renovated 72% of the units at Townhomes at River’s Crossing with a scope of black/stainless steel appliances, resurfaced countertops, updated cabinets, updated bathrooms, and vinyl plank flooring. 

The opportunity exists for a new owner to renovate the remaining 28% of classic and partially renovated units and increase rents. Similar properties in the area that have undergone renovations are achieving rents at least 15% higher on average.

A new owner can also lease to more voucher tenants in order to generate even higher rents and certainty of rental income.


Over the last few months, current ownership has leased renovated units to voucher tenants at rents $140 higher than those achieved by new market tenants.

NEIGHBORHOOD SPOTLIGHT: ESSEX

Essex is a waterfront community located in Baltimore County, offering a blend of suburban charm and easy access to key employment, retail, and entertainment hubs. The neighborhood is conveniently situated near major transit routes, including I-695, MD-702, and Eastern Boulevard, providing seamless connectivity to Baltimore City, White Marsh, and the greater Baltimore region.


Industrial and commercial growth has been expanding in the surrounding area, with Tradepoint Atlantic in nearby Sparrows Point driving significant economic activity. The 3,300-acre business park supports over 13,000 jobs and hosts major employers such as Amazon, Home Depot, and FedEx. Additionally, Johns Hopkins Bayview Medical Center and MedStar Franklin Square Medical Center, two of the region’s largest healthcare employers, are within a short commute, collectively employing tens of thousands of workers.


Essex also offers a variety of retail and recreational amenities. Middlesex Shopping Center and the nearby White Marsh Mall provide access to major retailers such as Target, Kohl’s, and Lowe’s. Outdoor enthusiasts benefit from waterfront access at Rocky Point Park and the Chesapeake Bay, offering boating, fishing, and scenic trails. The community is also close to vibrant neighborhoods like Canton and Fells Point, making city amenities easily accessible.


Essex continues to grow as a convenient and desirable location for residents seeking a balance of employment opportunities, suburban lifestyle, and waterfront recreation.

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