Contacts
Justin Verner
Harbor Stone Advisors
Brooks Healy
Harbor Stone Advisors
Tom Wohlgemuth
Harbor Stone Advisors
Shana Sabie
Harbor Stone Advisors
Todd Galvin
Harbor Stone Advisors
Property Details
- Property Type Other
- Property Size 12,530 SF
- Units 16
- Additional Rent Contact for pricing
- Date Updated Sep 5, 2024
- Website cathedralcommons.sharplaunch.com
511-513 Cathedral St. | Baltimore, MD 21201
Harbor Stone Advisors is pleased to present the opportunity to acquire Cathedral Commons, a fully occupied, gut renovated asset located in Historic Mount Vernon. Residents at Cathedral Commons are just steps away from the arts, culture, nightlife, and dining that Mount Vernon has to offer. Mount Vernon Marketplace, a neighborhood food hall, and the Peabody Institute of The Johns Hopkins University are both a 3 minute walk away from the property.
Cathedral Commons features 16 apartments with a mix of (4) Studios and (12) 1 Br-1 Ba. There are also 10 off-street surface parking spaces on-site. Prior ownership completed a gut renovation of the property in 2013 which included unit renovations. Typical apartment unit features consist of white/stainless steel appliances, granite countertops, wood cabinets, hardwood/tile flooring, and in-unit washer/dryers in select units. In addition to interior renovations, prior ownership also updated all mechanical systems and replaced the windows. Current ownership converted the cooking power from gas to electric and replaced all of the ovens.
The opportunity exists for a new owner to focus on organic rent growth at Cathedral Commons. Comparable properties nearby are achieving rents $130 higher on average compared to the Subject property.
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Highlights
- Opportunity to Acquire a Gut-Renovated Asset in Historic Mount Vernon
- Features 16 apartments with a mix of (4) Studios and (12) 1 Br-1 Ba
- Typical apartment unit features consist of white/stainless steel appliances, granite countertops, wood cabinets, hardwood/tile flooring, and in-unit washer/dryers in select units
- There are also 10 off-street surface parking spaces on-site
- Minimal Deferred Maintenance and Potential to Increase Rental Revenue
- Prior ownership completed a gut renovation of the property in 2013 which included unit renovations
- In addition to the interior renovations, current ownership also updated all mechanical systems and replaced the windows
- Opportunity exists for a new owner to focus on organic rent growth as similar properties nearby are achieving rents $130 higher on average
- Class A Midtown Location; 3 Minute Walk to the Peabody Institute of The Johns Hopkins University
- Ranked a Walker's Paradise by Walk Score, just steps away from dining, retail, and cultural attractions
- Close Proximity to Downtown Baltimore and Inner Harbor
- Major area employers nearby: University of Maryland Medical Center Midtown Campus, Agora Financial, and Mercy Medical Center
- Major area colleges nearby: Peabody Institute of The Johns Hopkins University, University of Maryland, Baltimore, University of Baltimore, and Maryland Institute College of Art (MICA)
Attachments
Getting around
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99/100
Walk Score ®
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100/100
Transit Score ®
-
73/100
Bike Score ®
Location
- City Baltimore, MD
- Neighborhood Mount Vernon
- Zip Code 21201
- Market Baltimore
Points of Interest
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Centre Street
0.19 miles
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Charles Center
0.45 miles
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Baltimore Arena
0.52 miles
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Shot Tower/Market Place
0.70 miles
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Shot Tower
0.71 miles
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Mount Royal / University of Baltimore
0.81 miles
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Camden Station
0.86 miles
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Camden Street
0.90 miles
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Upton
1.17 miles
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Hamburg Street
1.19 miles
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Gulf
0.34 miles
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Exxon
0.42 miles
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ChargePoint
0.51 miles
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BP
0.64 miles
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Sunoco
0.88 miles
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BP
0.95 miles
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Marathon
0.97 miles
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Maryland Science Center
1.07 miles
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Mystik
1.17 miles
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American Fuel
1.17 miles
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15 W. Franklin Street Garage
0.08 miles
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601 N Calvert Street Garage
0.22 miles
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Monument Place Resident Parking
0.27 miles
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The Bunting Garage
0.29 miles
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McAuley Garage
0.29 miles
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Maryland General Hospital Parking Garage
0.29 miles
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Lot B
0.30 miles
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210 St Paul Place Garage
0.31 miles
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MAPS Employee Parking
0.32 miles
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Lot C
0.33 miles
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Hotel Indigo
0.06 miles
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Revival Baltimore
0.10 miles
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Hostelling International
0.15 miles
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Home2 Suites
0.19 miles
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Biltmore Suites Hotel - Park Avenue Building
0.20 miles
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Biltmore Suites Hotel - Main Building
0.20 miles
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La Quinta Inn & Suites by Wyndham Baltimore Downtown
0.22 miles
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La Quinta
0.27 miles
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Embassy Suites
0.30 miles
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Quality Inn
0.37 miles
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Streets Market & Cafe
0.27 miles
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Charles Plaza
0.27 miles
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Eddie's of Mount Vernon
0.34 miles
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The Gallery at Harborplace
0.66 miles
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Save-A-Lot
0.69 miles
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Pratt Street Pavilion (Harbor Place)
0.74 miles
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Light Street Pavilion (Harbor Place)
0.79 miles
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OK Market & Deli
0.80 miles
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Harlem Grocery
0.90 miles
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Save-A-Lot
1.01 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.