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The Flats at 1406 Eutaw Place

Posted: 5/31/2021
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About The Flats at 1406 Eutaw Place

Cushman & Wakefield’s Baltimore Multifamily Advisory Group is pleased to present the exclusive listing of The Flats at 1406 Eutaw Place, located in the historic Baltimore City Neighborhood of Bolton Hill. The Property is well suited for a value-add business plan, while preserving the Property’s historic features and distinct Brownstone façade. The Property contains 21 residential units and a carriage house and garage in the rear of the Property.

Investors are afforded a compelling opportunity to acquire an apartment building of medium scale that has not changed hands in nearly 40 years. Asset Revenue can be improved both through kitchen and bathroom renovations, followed by rent increases and streamlining of management operations, as current rents trail market rents by as much as 35%. With 8-15-foot ceilings, ample natural light, hardwood floors, and original historic details, The Flats at 1406 Eutaw Place attract a sophisticated urban renter, while lagging behind the rents of the highly amenitized comparable, The Jordan (1517 Eutaw Place), where studios rents start at nearly $1300 per month

Baltimore’s Penn Station is set to undergo a $90 Million Renovation later this year. The Master Plan will include up to 1.6 Million Square Feet of hotel, office, retail and residential space. Residents are able to commute door to door from their residence to Downtown Washington D.C. in less than 70 minutes.