Harbor Stone Advisors has executed the sale of 1005 N Charles, 13 apartments and 1 retail space in historic Mount Vernon. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor to an affiliate of Liberty Group Holdings as well as sourcing the buyer, Chasen Companies. Liberty Group Holdings is a boutique acquisitions and asset management company focused on opportunistic value add multifamily / neighborhood retail assets and based out of Washington DC.
The asset, located at 1005 N Charles, Baltimore, MD 21201, consists of (5) Studios, (6) 1 Br-1 Ba, (2) 2 Br-2 Ba, and (1) commercial space. The commercial space is leased through 2026 by Liliahna Catering, a luxury catering company and restaurant. Typical apartment unit features include white/black appliances, formica countertops, and hardwood floors. The previous owner renovated four units with a scope of stainless steel appliances, backsplash, dark brown wooden cabinets, updated bathrooms, and vinyl plank flooring. They also converted a 2 Br-2 Ba unit into two separate units.
Verner noted, “Class B value add multifamily properties that are well-located continue to be sought after by investors. Mt Vernon’s historic feel and centralized location is attractive to both potential renters and investors alike. Our marketing process ultimately yielded a local buyer seeking to expand their portfolio in the area.”
1005 N Charles is located in Midtown Baltimore within the charming, historic Mount Vernon neighborhood. Mount Vernon is known for its stunning 19th century architecture, parks, museums, cultural landmarks, Zagat-rated restaurants, and close proximity to Downtown Baltimore, the Central Business District and the Inner Harbor. The neighborhood has abundant local dining, shopping and entertainment. The subject property has a Walk Score of 98, ranking it a Walker’s Paradise.
About Harbor Stone Advisors:
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit www.harborstoneadvisors.com.
