The Imperial at Conkling

Baltimore, MD

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Executive Summary

Imperial at Conkling Executive Summary

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The Offering

Offering Details

Price: Subject to Offer
# of Units: 27
Year Renovated: 2017
Avg. Rent: $1,452
Walk Score: 96
Lead Status: Lead Free

201 S Conkling St. Baltimore, MD 21224

Harbor Stone Advisors is pleased to present the unique opportunity to acquire Imperial at Conkling, a gut-renovated asset located in the Highlandtown neighborhood of Baltimore City. The property is located a mile away from some of the best retail, dining and nightlife the city has to offer, including Mobtown Brewing Company, Canton Crossing Shopping Center, and O'Donnell Square. Imperial at Conkling is also just a 6 minute drive from the Johns Hopkins Medical Center Bayview Campus.

Imperial at Conkling features 27 units with a mix of (1) Studio, (21) 1 Br-1 Ba, and (5) 2 Br-2 Ba. The property also has gated parking, a media club room, a pet washing station, and controlled access. Prior ownership completed a gut renovation of the property in 2017 which included converting the former schoolhouse into luxury apartments. Typical unit features consist of stainless steel appliances, granite countertops, hardwood/ceramic tile flooring, in-unit washer/dryers, and high-end finishes. Prior ownership also updated all of the mechanical systems.

The opportunity exists for a new owner to organically increase rents as similar properties nearby are achieving rents at least 20% higher on average. Imperial at Conkling also has an existing CHAP Tax Credit that runs through the 2026-2027 tax year.

Offering Highlights

Unique Opportunity to Acquire a Gut-Renovated Asset in Highlandtown

• Features 27 units with a mix of (1) Studio, (21) 1 Br-1 Ba, and (5) 2 Br-2 Ba

• Property also has gated parking, a media club room, a pet washing station, and controlled access

• Typical unit features consist of stainless steel appliances, granite countertops, hardwood/ceramic tile flooring, in-unit washer/dryers, and high-end finishes

Minimal Deferred Maintenance for a New Owner

• Prior ownership completed a gut renovation of the property in 2017 which included converting the former schoolhouse into luxury apartments and updaing all mechanical systems

• New owner can focus on organically increasing rents at least 20%

• Property has an existing CHAP Tax Credit that runs through the 2026-2027 tax year

Excellent Location in East Baltimore; 6 Minute Drive to Johns Hopkins Bayview Campus

• Ranked a Walker's Paradise by WalkScore; a short walk to a variety of retail and dining options

• Easy access to major interstates I-895, I-95, and I-695; convenient access to other neighborhoods such as Canton and Fells Point

• Major area employers nearby: Johns Hopkins Hospital (Main and Bayview Campuses), Kennedy Krieger Institute, Amazon, Morgan Stanley

• Major area colleges nearby: Johns Hopkins University Schools of Medicine, Nursing, Public Health, and Business