Harbor Stone Advisors, a Mid-Atlantic commercial real estate firm specializing in multifamily investment sales, has orchestrated the sale of Forest Park Apartments and Retail, a mixed-use asset in the Forest Park neighborhood of Northwest Baltimore. The asset includes 8 residential and 7 commercial units with value-add upside potential. Harbor Stone Advisors President Justin Verner, Director Brooks Healy, and Senior Advisor Tom Wohlgemuth served as exclusive advisors to both the buyer and seller.
Forest Park Apartments and Retail, located at 3800 W Forest Park Ave., features a unit mix of (7) 1 Br-1 Ba, (1) 2 Br-1 Ba, and (7) commercial spaces. Current commercial tenants include a church and a dental lab. Former ownership completed renovations of all residential units and opportunity exists for the new owner to organically increase rents as most are currently under market.
About Harbor Stone Advisors
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid- Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit: www.harborstoneadvisors.com
