North Court Apartments
Deal Type: Acquisition
Risk Profiles: Core
Property Types: Multifamily
North Court Apartments
39-41 N Court St. | Westinster, MD 21157
Opportunity to Acquire a Fully-Occupied Multifamily Asset in Carroll County
Harbor Stone Advisors is pleased to present North Court Apartments, a fully occupied multifamily asset situated in the heart of Westminster, MD. Located in the National Historic District of Downtown Westminster, North Court Apartments offers a unique living experience. Residents enjoy a walkable main street with preserved historic architecture, boutique stores, and excellent dining options. Downtown Westminster also has an active community calendar with annual events and festivals.
The property features 6 units with a mix of (1) Studio, (3) 1 Bedrooms, and (2) 2 Bedrooms. Prior ownership completed a comprehensive renovation of the property including unit renovations. Typical unit features consist of stainless steel appliances, wood cabinets, formica countertops, hardwood/tile flooring, and in-unit washer dryers. The current owner refreshed two units, 1 and 5, by adding granite countertops and modern hardware/fixtures.
The opportunity exists for a new owner to organically increase rents at North Court Apartments. There is also an ability to monetize parking at the property. Currently, there is a garage on-site that is being used as storage for the property. A new owner can rent out the garage as a parking area for 1-2 cars.
Investment Highlights
Unique Opportunity to Acquire a Fully Occupied Multifamily Asset in Carroll County
- Features 6 units with a mix of (1) Studio, (3) 1 Bedrooms, and (2) 2 Bedrooms
- Typical unit features consist of stainless steel appliances, wood cabinets, formica countertops, hardwood/tile flooring, and in-unit washer dryers
- Opportunity exists for a new owner to organically increase rents
- Garage on-site is currently used for storage; new owner could rent out as a parking area for 1-2 cars
Excellent Location in Downtown Westminster
- Situated in the heart of downtown; walkable to numerous shops, restaurants, and local events
- Easy access to I-97 and I-140
- Major area employers/colleges nearby: Carroll Hospital Center, McDaniel College, Carroll Community College
Location Highlights: Westminster
North Court Apartments is located in Westminster, Maryland, ideally situated in Carroll County about 30 miles northwest of Baltimore. Westminster is a family-oriented community with easy access to a diverse range of retail and outdoor recreation.
Residents of the town enjoy a tight-knit community feel. Families, young professionals, and college students alike are engaged by the town’s weekly farmer’s markets and annual festivals hosted along Westminster’s main street. Additionally, the city’s proximity to major highways, including Route 140 and Route 97 offers an easy commute to the city for work or entertainment.
Within 2 miles of the property, there are nearly 4 million square feet of retail. Several shopping centers are nearby such as 140 Village and Crossroad Square, which include tenants like the Vitamin Shoppe, Taco Bell, Chipotle, Men’s Warehouse, PetSmart, and many more. Other major retail centers in the city includes nearly 500K SF at the TownMall of Westminster and 130K SF at the Cranberry Square Shopping Center.
Residents are within minutes of the top 3 employers in Carroll County including the Carroll Hospital Center, McDaniel College, and Penguin Random House. These employers account for nearly 3,000 workers or 5% of the entire workforce in the county.
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