Harbor Stone Advisors has orchestrated the off-market sale of a 28-unit apartment portfolio in the historic Mount Vernon neighborhood of Baltimore City. Harbor Stone Advisors President Justin Verner, Director Brooks Healy, Senior Advisor Tom Wohlgemuth, and Advisor Kevin Landolphi served as exclusive advisors on the transaction.
The portfolio comprises 4 multifamily buildings totaling 28 units with an average rent of $1,197 per unit. Mount Vernon is one of Baltimore’s oldest and most culturally rich neighborhoods, home to iconic institutions like the Walters Art Museum, George Peabody Library, and the original Washington Monument. The area offers a blend of historic charm and modern convenience, with boutique shops, cafes, and top restaurants like Sotto Sopra and Restaurante Tio Pepe just steps away. Residents benefit from unmatched walkability and close proximity to Maryland Institute College of Art (MICA) and Johns Hopkins University. Major transit options close to these buildings include Penn Station, LightRail, and the Metro Subway
While unit configurations and finishes vary across the properties, the portfolio is positioned well for a value-add strategy, including interior upgrades and management repositioning.
Verner noted, “We are pleased to announce the sale of 4 buildings in Mount Vernon. Our team sourced a local, off market buyer looking to expand their portfolio in the area. The assets are primed for a renovation program and management repositioning”.
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.
