Printers' Square Apartments

1312 Guilford Ave. | Baltimore, MD 21202

Harbor Stone Advisors is pleased to present the opportunity to acquire Printers’ Square Apartments, a well-maintained asset with value-add potential located in Historic Mount Vernon. The property is a 5 minute walk away from the University of Baltimore and is less than a half mile from Penn Station, which is undergoing $150 million worth of renovations over the next several years.

Printers’ Square Apartments features 60 spacious units with a mix of (42) 1 Br-1 Ba and (18) 2 Bedrooms. Property amenities include laundry facilities, a fitness center, courtyard, elevator, and on-site parking. Printers’ Square Apartments was previously a fire house and underwent a conversion to apartments in 2007, and 50% of units were placed in-service under the Section 42 Low Income Housing Tax Credit (LIHTC). Typical unit features include white appliances, wood cabinets, formica countertops, carpet/hardwood/tile flooring, and some in-unit washer dryers. During the conversion, the property also received all new mechanical systems.

Current ownership has updated a handful of units by adding stainless steel appliances, resurfaced countertops, and painted cabinets. The opportunity exists for a new owner to continue this light renovation on the remaining units as well as add in-unit washer/dryers to the units without. Comparable properties nearby are currently achieving rents at least 20% higher than the Subject property. There is also an ability to implement a water reimbursement program upon renewal and/or new lease for market tenants.         

• Features 60 spacious units with a mix of (42) 1 Br-1 Ba and (18) 2 Bedrooms

• 2007 conversion to apartments 

• Typical unit features include white appliances, wood cabinets, formica countertops, carpet/hardwood/tile flooring, and some in-unit washer dryers

• Property amenities consist of laundry facilities, fitness center, courtyard, elevator, and on-site parking

• 50% of units were placed in-service under the Section 42 Low Income Housing Tax Credit (LIHTC) program in 2007

• Current ownership has updated a handful of units by adding stainless steel appliances, resurfaced countertops, and painted cabinets

• Opportunity exists for a new owner to continue this light renovation on the remaining units as well as add in-unit washer/dryers to the units without

• Comparable properties nearby are currently achieving rents at least 20% higher than the Subject property

• New owner can also implement a water reimbursement program for all market tenants upon renewal and/or new lease

• Ranked a Walker’s Paradise by Walk Score, just steps away from retail, dining, and cultural attractions

• Easy access to Downtown Baltimore and the Inner Harbor; less than a half mile from Penn Station

• Major area employers nearby: University of Maryland Medical Center (UMMC) Midtown Campus, Johns Hopkins Hospital, Maryland State offices

• Major area colleges nearby: University of Baltimore, Maryland Institute College of Art (MICA), Peabody Institute of the Johns Hopkins University, John Hopkins University

Printers’ Square Apartments is located within the Mount Vernon neighborhood in Baltimore City, one of the city’s oldest neighborhoods littered with museums, theatres, and libraries, as well as boutique shops and cafes. The subject property is blocks away from University of Baltimore and Maryland Institute College of Art (MICA), one of the country’s premier art schools. 

Walkability is the name of the game, and the property is within walking distance of a plethora of retail and entertainment. This historic neighborhood features attractions like the Washington Monument, Walters Art Museum, the George Peabody Library, and top eateries like Restaurante Tio Pepe and Sotto Sopra. Minutes to the historic Bolton Hill neighborhood, which features significant landmarks such as MICA, the former home of author F. Scott Fitzgerald, and the Francis Scott Key monument. 

The property is an 8-minute walk from Baltimore’s historic Penn Station, which is set to receive $150 million in renovations in the coming years. Penn Station offers convenient access to public transportation, with access to Amtrak trains and the MARC commuter train to Washington, D.C. Additionally, the property is less than a half-mile from the nearest LightRail Station, which provides direct access north to Hunt Valley and south to BWI Airport. The nearest subway station, which provides direct access to Johns Hopkins Hospital (30,000 employees), is less than one mile away. 

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