RevereCRE

Dundalk Village Apartments & Retail

Opportunity to Acquire 67 Residential Units and 78,000+ SF of Commercial Space in Historic Suburban Location via Auction Sale

Deal Type: Acquisition

Risk Profiles: Value-Add

Property Types: Multifamily, Retail, Office

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63 Shipping Pl. | Dundalk, MD 21222

Dundalk Village Apartments and Retail

Opportunity to Acquire 67 Residential Units and 78,000+ SF of Commercial Space in Historic Suburban Location via Auction Sale

 

Open House Opportunity: Thursday, October 10 at 12PM

Harbor Stone Advisors and Alex Cooper Auctioneers is pleased to present Dundalk Village Apartments and Retail, a mixed-use investment opportunity located in Dundalk, MD. Situated in Baltimore County, Dundalk Village Apartments and Retail is right in the middle of the industrial and logistics hub of Baltimore with Chesapeake Commerce Center and Tradepoint Atlantic less than a 10-minute drive away.

 

The property features (67) residential units with a mix of (30) Studios, (35) 1 Br-1 Ba, (2) 2 Br-1 Ba, 9,127 SF of executive office space, and 69,735 SF of retail space. There is plentiful parking for both tenants and customers, with a total of 295 surface parking spaces as well as street parking.

 

Prior ownership extensively renovated the residential units between 2007 and 2008 by making electrical and plumbing improvements, adding split systems, and upgrading the kitchen and bathrooms with new cabinets, appliance packages, and ceramic tiled flooring. Typical unit features include black/white appliances, wood cabinets, laminate countertops, and tile/plank/carpet flooring. The opportunity exists for a new owner to renovate all of the residential units with a suggested scope of stainless steel appliances and granite countertops. Comparable properties nearby that have undergone a similar renovation scope are achieving rents at least $200 higher than the Subject property. There is also a possibility of leasing to more Section 8 tenants to further increase rents and gain certainty of rental income. A new owner can also evaluate converting the executive office suites to apartments and leasing up the remaining vacant retail spaces.  

ONLINE AUCTION ONLY:

Opening Bid: Thursday, October 10 at 1PM

Auction Ends: Tuesday, October 15 at 1PM

For Further Information Regarding the Auction Process, Visit the Alex Cooper Auctioneers Website

ONLINE AUCTION ONLY:

Opening Bid: Thursday, October 10th at 1PM

Auction Ends: Tuesday, October 15th at 1PM

For Further Information Regarding the Auction Process, Visit the Alex Cooper Auctioneers Website

Harbor Stone Advisors and Alex Cooper Auctioneers is pleased to present Dundalk Village Apartments and Retail, a mixed-use investment opportunity located in Dundalk, MD. Situated in Baltimore County, Dundalk Village Apartments and Retail is right in the middle of the industrial and logistics hub of Baltimore with Chesapeake Commerce Center and Tradepoint Atlantic less than a 10-minute drive away.

 

The property features (67) residential units with a mix of (30) Studios, (35) 1 Br-1 Ba, (2) 2 Br-1 Ba, 9,127 SF of executive office space, and 69,735 SF of retail space. There is plentiful parking for both tenants and customers, with a total of 295 surface parking spaces as well as street parking.

 

Prior ownership extensively renovated the residential units between 2007 and 2008 by making electrical and plumbing improvements, adding split systems, and upgrading the kitchen and bathrooms with new cabinets, appliance packages, and ceramic tiled flooring. Typical unit features include black/white appliances, wood cabinets, laminate countertops, and tile/plank/carpet flooring. The opportunity exists for a new owner to renovate all of the residential units with a suggested scope of stainless steel appliances and granite countertops. Comparable properties nearby that have undergone a similar renovation scope are achieving rents at least $200 higher than the Subject property. There is also a possibility of leasing to more Section 8 tenants to further increase rents and gain certainty of rental income. A new owner can also evaluate converting the executive office suites to apartments and leasing up the remaining vacant retail spaces.  

Mixed-Use Investment Opportunity in Baltimore County

  • Features (67) residential units, 9,127 SF of executive office space, and 69,735 SF of retail space

  •  Plentiful parking for tenants and customers, with a total of 295 surface parking spaces as well as street parking

  • Typical residential unit features include black/white appliances, wood cabinets, laminate countertops, and tile/plank/carpet flooring

Ability to Renovate Units and Increase Rents

  • Prior ownership extensively renovated the residential units between 2007 and 2008 which included unit renovations

  • Other major improvements completed include making electrical and plumbing upgrades and adding split systems

  • Focus on leasing retail/office to further drive revenue

  • Opportunity exists for a new owner to renovate all of the residential units with a suggested scope of stainless steel appliances and granite countertops

  • A new owner can also evaluate the possibility of leasing to more Section 8 tenants, convert the executive suites to apartments, and lease up the remaining vacant retail spaces

Excellent Location in Dundalk

  • Adjacent to the industrial and logistics hub of Baltimore

  • Easy access to to I-695, I-895, and a 20 minute drive to the Inner Harbor

  • Major area employers nearby: Johns Hopkins Bayview Medical Center, Amazon, CCBC Dundalk, and Volkswagen

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