109 W Monument

109 W Monument

109 W Monument St. | Baltimore, MD 21201

ONLINE AUCTION ONLY: to be held on the auctioneers website

Registration and Bidding Begins: Saturday, May 31  at 12pm

Timed Auction Closes: Thursday, June 5 at 12pm

Price: Auction Sale

# of Units: 6

Avg. Rent: $1,456

Occupancy: 100%

Harbor Stone Advisors and Alex Cooper Auctioneers are pleased to present 109 W Monument, a renovated multifamily asset located in Historic Mount Vernon. The property is less than a 5 minute walk away from the Peabody Institute of the Johns Hopkins University and University of Maryland Medical Center (UMMC) Midtown Campus.

109 W Monument features 6 units with a mix of (5) 1 Br-1 Ba, and (1) 2 Br-2 Ba. Typical unit features consist of stainless steel appliances, wood cabinets, granite countertops, and hardwood flooring. Current ownership renovated all of the units between 2018 and 2019 and completed a handful of capital improvements such as a full roof replacement.

The opportunity exists for a new owner to organically increase rents at 109 W Monument, as they are currently under market. Properties of similar vintage that have undergone renovations of a comparable scope are achieving rents at least 10% higher on average than the Subject property.

Opportunity to Acquire a Renovated Asset in Historic Mount Vernon

• Features 6 units with a mix of (5) 1 Br-1 Ba, and (1) 2 Br-2 Ba.
• Typical unit features consist of stainless steel appliances, wood cabinets, granite countertops, and hardwood flooring.
• Current ownership renovated all of the units between 2018 and 2019 and completed a handful of capital improvements such as a full roof replacement.

Ability to Organically Increase Rents

• Opportunity exists for a new owner to organically increase rents.
• Potential to increase rents at least 10% based on nearby rent comparables.

Located in Historic Mount Vernon; Less Than a 5 minute Walk to the Peabody Institute of the Johns Hopkins University and UMMC Midtown Campus

• Ranked a Walker’s Paradise by WalkScore
• Major area employers nearby: UMMC Midtown Campus, Maryland State Offices, and Mercy Medical Center
• Major area colleges nearby: Peabody Institute of The Johns Hopkins University, University of Baltimore (UB), Maryland Institute College of Art (MICA), University of Maryland, Baltimore

109 W Monument 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 Maryland Institute College of Art (MICA), one of the country’s premier art schools, and University of Baltimore’s campus begins across the street.

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 less than one-half mile 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.