- For Sale $2,465,000
- Property Type Other
- Property Size 17,760 SF
- Units 19
- Year Built 1890
- Date Updated Apr 26, 2024
- Website loftsat344ncharles.sharplaunch.com
344 N. Charles St. | Baltimore, MD 21201
Harbor Stone Advisors is pleased to present the opportunity to acquire The Lofts at 344 N Charles, a gut renovated asset located in Downtown Baltimore. The property is located less than a 5-minute walk away from Mercy Medical Center, one of Baltimore City's top employers, and just steps away from the historic Mt Vernon neighborhood. The Lofts at 344 N Charles features (2) Studios, (12) 1 Br-1 Ba w/Loft, (4) 1 Br-1 Ba, and (1) commercial space. The commercial space is leased to BeMore Empowered through 2027.
Current ownership completed a gut renovation of the building in 2015 which included apartment renovations. Typical unit features consist of stainless steel appliances, granite countertops, wood cabinets, vinyl flooring, and in-unit washer/dryers. In addition to unit upgrades, current ownership completed numerous capital improvements including updating plumbing, electric and mechanical systems, replacement of the roof, and updated the common areas.
With minimal deferred maintenance, a new owner can focus on organically increasing rents. Comparable properties nearby are achieving rents at least $170 higher than the Subject property.
Want more info on this listing?
Reach out to the broker for more info on lease terms and amenities
Attachments
Highlights
- Opportunity to Acquire a Gut Renovated Asset in Downtown Baltimore
- Features (2) Studios, (12) 1 Br-1 Ba w/Loft, (4) 1 Br-1 Ba, and (1) commercial space
- Commercial space is leased to BeMore Empowered through 2027
- Current ownership completed a gut renovation of the building in 2015 which included apartment renovations, updated plumbing, electric and mechanical systems, replacement of the roof, and updated the common areas
- Additional Value-Add Potential Exists to Further Increase Revenue
- With minimal deferred maintenance, a new owner can focus on organically increasing rents
- Comparable properties nearby are achieving rents at least $170 higher than the Subject property
- Superior Location in Downtown Baltimore; Less Than a 5-Minute Walk Away from Mercy Medical Center
- Ranked a Walker's Paradise by WalkScore, just steps away from retail, dining, and cultural attractions
- Close proximity to Inner Harbor
- Major area employers nearby: Mercy Medical Center, Agora Financial, University Maryland Medical Center (UMMC) Midtown Campus
- Major area colleges nearby: Peabody Institute of the Johns Hopkins University, University of Maryland, Baltimore, University of Baltimore (UB)
False
Contacts
Location
Getting Around
-
Walk Score ®
99/100
Walker's Paradise
-
Transit Score ®
100/100
Rider's Paradise
-
Bike Score ®
66/100
Bikeable
- City Baltimore, MD
- Neighborhood Downtown Baltimore
- Zip Code 21201
- Market Baltimore
Points of Interest
-
Lexington Market
0.24 miles
-
Lexington Market
0.29 miles
-
Centre Street
0.30 miles
-
Charles Center
0.31 miles
-
Baltimore Arena
0.41 miles
-
Shot Tower
0.59 miles
-
Shot Tower/Market Place
0.59 miles
-
Convention Center
0.60 miles
-
State Center
0.66 miles
-
Cultural Center
0.72 miles
-
Gulf
0.35 miles
-
Exxon
0.42 miles
-
ChargePoint
0.43 miles
-
BP
0.78 miles
-
Sunoco
0.78 miles
-
BP
0.88 miles
-
Maryland Science Center
0.92 miles
-
Mystik
1.05 miles
-
Marathon
1.11 miles
-
BP
1.21 miles
-
15 W. Franklin Street Garage
0.06 miles
-
210 St Paul Place Garage
0.17 miles
-
McAuley Garage
0.19 miles
-
The Weinberg Garage
0.20 miles
-
The Bunting Garage
0.21 miles
-
MAPS Employee Parking
0.26 miles
-
601 N Calvert Street Garage
0.27 miles
-
SP+
0.27 miles
-
Lot C
0.29 miles
-
Fallsway Impound Lot
0.30 miles
-
Hostelling International
0.04 miles
-
Home2 Suites
0.06 miles
-
Hotel Indigo
0.10 miles
-
La Quinta Inn & Suites by Wyndham Baltimore Downtown
0.15 miles
-
Embassy Suites
0.15 miles
-
Quality Inn
0.22 miles
-
La Quinta
0.23 miles
-
Revival Baltimore
0.24 miles
-
Hotel Monaco Baltimore
0.29 miles
-
Lord Baltimore Hotel
0.30 miles
-
Banthai
0.01 miles
-
HomeSlyce Pizza Bar
0.02 miles
-
The Red Boat
0.02 miles
-
Jack and Zach
0.04 miles
-
Sotto Sopra
0.04 miles
-
Sijan Cafe
0.05 miles
-
Lumbini Restaurant & Grill
0.05 miles
-
The Burning Hen
0.06 miles
-
Cazbar
0.07 miles
-
Curry Printing & Copy Center
0.08 miles
-
New Foundations Mansef School
0.09 miles
-
Saint Alphonsus School
0.14 miles
-
The Peabody Institute of Johns Hopkins
0.18 miles
-
Baltimore School For The Arts
0.28 miles
-
Grace and Saint Peters School
0.29 miles
-
Academy of Languages
0.34 miles
-
Downtown Baltimore Child Care / Park Avenue
0.36 miles
-
Saint Marys Seminary
0.43 miles
-
School of Social Work
0.55 miles
-
University of Maryland Baltimore
0.58 miles
-
Charles Plaza Child Care & Development
0.10 miles
-
All My Children Child Care Center
0.43 miles
-
Downtown Baltimore Child Care, Inc.
0.51 miles
-
Bolton Hill Nursery
0.93 miles
-
Saint Vincent de Paul Head Start
1.30 miles
-
Headstart, Harford Elementary School Modular
1.79 miles
-
Kiddie Academy
1.97 miles
-
Dynamic Deliverance Childcare Center
2.11 miles
-
Homewood Early Learning Center
2.29 miles
-
Bright Beginnings
2.88 miles
Frequently Asked Questions
What is the lease rate for Lofts at 344 N Charles?
Rental asking rate at Lofts at 344 N Charles is $1,232,500.00/YR.
What is the total square footage of Lofts at 344 N Charles?
Lofts at 344 N Charles totals 17,760 square feet.
When was this property built?
Lofts at 344 N Charles was built in 1890.
Looking for more in-depth information on this property?
Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.
