117 W Saratoga

117 W Saratoga is located in the heart of Downtown Baltimore and the Central Business District, blocks to the retail and restaurants of the Inner Harbor. CFG Bank Arena, which recently underwent a major $300 million redevelopment of the arena’s interior with new seating, concession areas, a performance stage, and an outdoor deck, is located just one-half mile away. Camden Yards and M&T Bank Stadium, home to the Baltimore Orioles and Ravens, are also within walking distance. The property is steps to downtown’s only grocer, Streets Market, and Cafe. 117 W Saratoga has a Walk Score™ of 99, ranking it a Walker’s Paradise. More than 3,300 state employees have begun relocating to the central business district, the largest single influx of jobs in downtown’s history. The state agencies will occupy nearly 1 million SF of additional space, increasing the state’s occupied footprint to roughly 2.5 million. For more information, please see page 21. Many colleges are nearby, including the University of Maryland Baltimore, University of Baltimore, and Maryland Institute College of Arts. The prestigious Johns Hopkins University is a short driving distance away. Major nearby employers include the University of Maryland Medical Center with over 9,000 employees and Mercy Health Services with 4,028 employees, both of which are within short walking distance. There is ample public transportation nearby, as evident by the property’s Transit Score™ of 100. Options include the free Charm City Circulator, light rail stops, metro stops, and many bus stops. Further, the property is minutes to both Camden Station and Penn Station, the later of which is set to be redeveloped into a mixed-use project that could bring as much as 1.6 million SF of development to the area. Additionally, the property is a short driving distance to major through ways such as I-95 and I-83.Harbor Stone Advisors is pleased to present 117 W Saratoga, a well-maintained asset located in Downtown Baltimore City. The property is conveniently situated within a 10-minute walk of three major local employers: Mercy Medical Center, University of Maryland Medical Center (UMMC), and UMMC Midtown Campus. The property features (5) 1 Br-1 Ba apartments, as well as (1) commercial space. The commercial space is leased to a barber shop through August 2030. Current ownership has renovated 4 apartments at 117 W Saratoga with a scope of stainless steel appliances, granite countertops, updated cabinets, updated bathrooms, and LVP flooring. The opportunity exists for a new owner to renovate the 1 remaining classic unit and increase rents. Similar properties in the area that have undergone renovations are achieving rents 16% higher on average.