Harbor Stone Advisors has arranged the sale of The Goucher Flats, 12 mixed-use units in the Old Goucher neighborhood of Midtown Baltimore. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor and agent to the seller, Liberty Group Holdings, in addition to sourcing the buyer.
The Goucher Flats, located at 2112-2114 Maryland Ave | Baltimore, MD 21218, is a stabilized, mixed-use property with proven value-add ability. It consists of 10 apartments with a unit mix of (9) Studios and (1) 2 Br-1 Ba, in addition to two commercial spaces. Apartment unit features include white appliances, formica countertops, and original hardwood flooring. There is a value add opportunity for the new owner to renovate all of the residential units.
Old Goucher has attracted an abundance of residential development over the past few years as the neighborhood has gentrified, making it one of the fastest-growing neighborhoods in the city and aiding the progression of rent growth in the area. Blocks to several high end restaurants and bars, and R. House, a 9-vendor modern food hall. The subject property’s close proximity to Baltimore’s Penn Station makes it an ideal location for commuters. Penn Station is set to receive $90M+ worth of renovations. The subject property is located less than a mile from the prestigious Johns Hopkins University’s undergraduate campus. JHU is the top employer in Baltimore City, with over 25,000 employees, and is home to more than 7,000 undergrads and nearly 2,000 graduate students.
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.
