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
- Units 9
- Additional Rent Contact for pricing
- Date Updated Nov 4, 2024
78 Winchester Ave. Westminster, MD 21157
Harbor Stone Advisors is pleased to present the unique opportunity to acquire Winchester Apartments, a fully occupied multifamily asset located in Westminster, MD. The property features 9 units with a mix of (1) Efficiency, (3) 1 Br-1 Ba, (1) 2 Br-1 Ba, and (4) 2 Br-1 Townhomes. Typical unit features consist of white/stainless steel appliances, formica/resurfaced countertops, wood cabinets, and plank/tile/carpet flooring. There are also (8) 1 car garages on-site that are fully leased.
Current ownership has lightly upgraded some of the units over the last few years and fully renovated 2 units with new appliances, resurfaced countertops, updated bathrooms, and flooring. The opportunity exists for a new owner to renovate the remaining units to further increase rents. Comparable properties nearby are achieving rents at least $200 higher on average than the Subject property. There is also the ability for a new owner to convert unit 88-9 to a 3 Br-2 Ba. Unit 88-9 was originally two units, but these were combined to create a 2 bedroom unit. The bathroom and kitchen of one of the original units is currently closed off, giving the opportunity to a new owner to renovate the bathroom and gut the kitchen to create an additional bedroom.
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Highlights
- Unique Opportunity to Acquire a Fully Occupied Multifamily Asset in Carroll County
- Features 9 units with a mix of (1) Efficiency, (3) 1 Br-1 Ba, (1) 2 Br-1 Ba, and (4) 2 Br-1 Townhomes
- Typical unit features consist of white/stainless steel appliances, formica/resurfaced countertops, wood cabinets, and plank/tile/carpet flooring
- (8) 1 car garages on-site that are fully leased
- Ability to Increase Rents Via Renovation
- Current ownership has lightly upgraded some of the units over the last few years and fully renovated 2 units with new appliances, resurfaced countertops, updated bathrooms, and flooring.
- Opportunity exists for a new owner to renovate the remaining units to further increase rents at least $200
- Ability for a new owner to convert unit 88-9 to a 3 Br-2 Ba
- Excellent Location in Westminster; 5 Minute Drive to McDaniel College
- Easy access to Route 140
- Multiple shopping centers and dining options surrouding the property
- Major area employers/colleges nearby: Carroll Hospital Center, McDaniel College, Carroll Community College, Penguin Random House
Attachments
Getting around
-
75/100
Walk Score ®
-
20/100
Transit Score ®
-
35/100
Bike Score ®
Location
- City Westminster, MD
- Zip Code 21157
- Market Baltimore
Points of Interest
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High’s
0.41 miles
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Jiffy Mart
0.49 miles
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Carroll Motor Fuels
0.51 miles
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7-Eleven
0.59 miles
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Sunoco
0.64 miles
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Giant
0.65 miles
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Marathon
0.68 miles
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Liberty
0.95 miles
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Liberty Food Shop
0.95 miles
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CITGO
1.29 miles
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Diffendal Lot
0.23 miles
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Westminster Longwell Parking Garage
0.29 miles
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Longwell Parking Garage
0.29 miles
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Longwell Parking Lot
0.30 miles
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Sentinel Lot
0.31 miles
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Sherwood Parking Lot
0.33 miles
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Westminster Square Garage
0.33 miles
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Abion Lot
0.33 miles
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Gehr Lot
0.34 miles
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Longwell Annex Lot
0.40 miles
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Days Inn
0.76 miles
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Best Western
1.42 miles
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Sprouts Farmers Market
0.64 miles
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Giant
0.70 miles
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Belk
0.74 miles
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Boscov's
0.81 miles
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Food Lion
0.81 miles
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TownMall of Westminster
0.84 miles
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Big Lots
0.94 miles
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Shoppers
1.02 miles
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ALDI
1.06 miles
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Marshalls
1.09 miles
In-Depth Research Available for this Property
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