Pangea Springs

Attachments

• pangeasprings.sharplaunch.com (PDF) opens in new window

Highlights

• Rare Middle-Market Opportunity to Acquire 88 Units in Dundalk
• Unit mix consists of all 1 Br-1 Ba apartments
• There are laundry facilities on-site as well as a surface parking lot
• Typical unit features consist of white appliances, hard surface countertops, wood cabinets, and carpet/vinyl flooring
• Ability to Substantially Increase Rents at Least 20%
• Current ownership gut renovated Pangea Springs in 2016, which consisted of unit upgrades, new hot water heaters, roof and gutter replacements, and updated furnaces
• Opportunity exists for a new owner to organically increase rents
• There is also an opportunity to further expand upon the interior scopes of all units by adding granite countertops, plank flooring, and modern hardware and fixtures to further generate rental premiums
• In-place assumable debt with an interest rate of 4.32% and 8 years remaining
• Pangea Springs has pre-existing debt that can be assumed
• Current loan balance is $4,500,000 with an interest rate of 4.32%
• Loan matures in 2032, with 3 years of I/O remaining
• Excellent Location in Baltimore County
• Adjacent to the industrial and logistics hub of Baltimore
• Easy access to to I-695, I-895, and less than a 20 minute drive to the Inner Harbor
• Major area employers nearby: Amazon, Johns Hopkins Bayview Medical Campus, Port of Baltimore, CCBC Dundalk

Location

Getting Around

• Walk Score ®

  68/100 Somewhat Walkable

• Transit Score ®

  52/100 Good Transit

• Bike Score ®

  63/100 Bikeable

Points of Interest