601 Whitelock Street

Description

601-603 Whitelock Street presents an opportunity to acquire a fully detached five-unit apartment building in Baltimore's Reservoir Hill neighborhood at an attractive basis of just $100,000 per apartment. Unlike many value-add opportunities requiring significant renovation, this property has already been updated with durable finishes appropriate for today's rental market, allowing a new owner to focus on leasing rather than construction.The property consists of five one-bedroom apartments, including one unique two-story unit. Interiors feature granite countertops, wood cabinetry, ceramic tile backsplashes, modern bathrooms, recessed lighting, and stacked washers and dryers in every apartment. The recent renovations were completed with durable, low-maintenance finishes that fit the neighborhood and position the property for immediate lease-up rather than a costly renovation program.Each apartment is self-contained with individually metered gas and electric service, paid directly by the tenants. Every unit is served by a 90+ efficient gas-fired forced-air furnace with central air conditioning and its own 50-gallon water heater. The building features 400-amp electrical service and Hersey water meters already installed for future water bill-backs, creating an opportunity to reduce operating expenses and improve net operating income. A previous Limited Lead-Free certification also indicates the potential to recertify the building, reducing administrative requirements at future turnovers.Reservoir Hill continues to benefit from substantial public and private investment. Just steps from the property, the newly reopened walking loop around Druid Lake has restored one of Baltimore's signature recreational destinations following the City's landmark reservoir modernization project. Less than one-half mile away, MCB Real Estate is developing the $170 million Reservoir Square, anchored by a new Streets Market grocery store, retail, and neighborhood services. These investments continue to strengthen one of Baltimore's most historic neighborhoods while improving everyday convenience for residents.For investors seeking an affordable apartment acquisition with modern interiors, individually metered utilities, and meaningful neighborhood momentum, 601-603 Whitelock offers the opportunity to acquire a renovated asset, lease it up immediately, and participate in the continued revitalization of Reservoir Hill.