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Cushman & Wakefield’s Manufactured Housing Group is pleased to present the exclusive listing of Milam Bridge a manufactured housing community in Euharlee, GA 40 miles northwest of Downtown Atlanta. The Park consists of 35 Park-Owned homes, 4 RV Pads, and 1 Single-Family Home. Milam Bridge is a professionally managed and stabilized asset with historically minimal turnover. The Park offers investors the compelling opportunity to acquire a value-add community with demonstrated rent increases. Current ownership has completed several recent renovations capturing for strategic rent increases and proven-value add premiums.

Nearly all of the homes in Milam Bridge are park-owned and occupied by long-term residents demonstrating keen desire to own their units. Future ownership is afforded a rare opportunity to gradually roll over to tenant-owned-homes through a Rent-to- Own program. This conversion will significantly reduce maintenance and operating costs, while allowing for long-term lot rent leases with consistent escalations.

Located less than 50 miles from Downtown Atlanta, the exurb of Bartow County has experienced a 23% year-over-year increase in median home prices since last April eliminating crucial affordable housing options in the MSA. Upward pressure on both conventional apartment rents and home prices, bodes well for future rent increases and rent-to-own initiatives at Milam Bridge.

Atlanta, GA MSA has grown 10.9%% since the end of 2019 and now has over 6,000,000 people. The state’s population has grown 7.8% from the end of 2019 and now has almost 11 million residents (8th most populated state). Milam Bridge MHP is being offered as a value-add investment with an entry cap rate of 4.9%, and the immediate opportunity to both reduce operating expenses and raise rents/transition to resident owned homes.

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Milam Bridge Mobile Home Park
Offers Due:  Monday, July 11, 2022
41 Units
278 Milam Bridge Road
Euharlee, GA  30120
Type: Mobile Home Park
Posted: 5/31/2022

The Cushman and Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present The Highlander, a rare opportunity to acquire a best-in-class newly built asset in Baltimore’s Bohemian Woodberry Neighborhood. Built in 2021, The Property features twelve 2 BD/ 2BA Units and is less than two miles from both Johns Hopkins University (Homewood Campus) and Loyola University Maryland. The Highlander is a 15-minute drive from major employers in Downtown as well as Harbor East & Harbor Point.

The Highlander resonates with an affluent and discerning demographic of renters. The amenities includes in-unit washer/dryers, dishwashers, granite countertops, microwaves, stainless steel appliances, and central air conditioning, while the building has a sprinkler system, on-site parking, and a Butterfly Video Intercom System. Residents pay all utilities except for trash.

The Highlander benefits from the Baltimore Development Corporation's High Performance Tax Credit, aimed at encouraging development of new or converted market-rate apartments in the City. The tax credit is based on the increase in the value of real property due to improvements pertaining to construction/conversion costs.

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The Highlander
12 Units
2080 Rockrose Avenue
Baltimore, MD  21211
Type: Conventional
Posted: 5/1/2022

Cushman & Wakefield's Mid-Atlantic Multifamily Group is pleased to offer The Kenary, a boutique Class A apartment building recently delivered in Baltimore's Fells Point Neighborhood. The Property features 11 residential units as well as a commercial space. The Property is well-located just off of the Fells Point waterfront, with residents enjoying immediate proximity to The Broadway Market (2 blocks), The Sagamore Pendry Hotel (4 blocks), and Whole Foods (6 blocks).

With only 11 residential units, The Kenary's true boutique community feel is accentuated by thoughtfully-crafted unit interiors representing the pinnacle of modern living in Fells Point. Strategic execution provides a luxurious lifestyle offering in a highly desirable location. The Kenary's impressive finishes and boutique living experience attracts a discerning resident profile. The apartments are 100% pre-leased with a blended average rent of $1,500 across the 1 and 2 bedroom units.

Fells Point benefits from impressive rental metrics boasting the highest average 1 Bedroom and 2 Bedroom Rates in the Baltimore Market, at $2,200 and $3,075 per month respectively. Sales velocity remains amongst the lowest in Baltimore City, with only two multifamily sales transaction in the neighborhood since January 2020 (CoStar).

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Coming Soon
The Kenary
Offers Due:  Wednesday, July 27, 2022
12 Units
1707 Eastern Avenue
Baltimore, MD  21231
Type: Conventional
Posted: 6/17/2022

Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present The Park Lynn Apartments, a rare opportunity to acquire a garden-style, proven value-add asset in Baltimore’s bucolic Roland Park Neighborhood. The Community has been privately owned and managed since its construction in 1949, offering an unrivaled opportunity for new ownership to raise rents and reduce operating expenses, dramatically increasing The Property’s net operating income. The units are fitted with hardwood floors, ample natural light, and several townhome floorplans. Impactful rent growth can be achieved through cosmetic renovations including modern kitchens and bathrooms, creating urbane sophisticated interiors appealing to high-income renters, while trailing Class A Luxury Residences

Established in 1891, by Frederick Law Olmstead Jr., Roland Park is Baltimore City’s Preeminent Residential Enclave. The neighborhood is distinguished by its prominent architecture, and picturesque scenery. The Park Lynn Apartments are immediately behind Roland Park Shopping Center, America’s first planned Shopping Center.More than 50% of Roland Park Residents hold a Master’s Degree or higher with average household income approaching $110,000-double the national average. The Property is located approximately one mile from both Johns Hopkins University and Loyola University of Maryland.

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The Park Lynn Apartments
53 Units
4 Upland Road
Baltimore, MD  21210
Type: Conventional
Posted: 2/21/2022

Century Realty and Cushman & Wakefield are pleased to present Geary Plaza, located in Charleston, WV, the state capital and largest city by population. The offering is perfectly suited for a value-add business plan, focused on making substantial rent increases, increasing occupancy, and reducing annual operating expenses. The Property's anchor tenant is a division of publicly-traded UnitedHealth Group Inc. Positioned in The Central Business District, Geary Plaza is located on a high-visibility corner, with spacious floor plates, ample natural light, and panoramic views of Downtown Charleston.

The City has benefited from significant investment with more than $120 million in infrastructure capital entering the city since 2012, including hotels, restaurants, tourism infrastructure, mixed use buildings and other projects that make Charleston more attractive for people to live, visit, work, recreate, innovate and invest. Notable projects in the past 10 years include, the transformation of The Charleston Coliseum and Convention Center, the construction of Appalachian Power Park, home of The Charleston Dirty Birds, and Phase I Redevelopment of Schoenbaum Stage at Haddad Riverfront Park, home to the City's free Concert Series.

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Geary Plaza
   
700 Washington Street
Charleston, WV  25301
Type: Land
Posted: 2/21/2022

The Cushman & Wakefield Baltimore Multifamily Advisory Group is pleased to present the exclusive listing of The Linkwood Apartments located within Baltimore’s Tuscany-Canterbury neighborhood. The Property is well-placed, equidistant from Johns Hopkins University and Loyola University Maryland, while also adjacent to Roland Park and Guilford, Baltimore City’s two preeminent residential enclaves.

The Linkwood Apartments offer investors the compelling opportunity to acquire a light value-add garden-style apartment community that feature two-bedroom units, and communal amenities such as on-site parking and laundry. Further value can be created through the cosmetic renovation of existing kitchens and bathrooms. The opportunity exists to continue operating the community as conventional multifamily housing or converting the property to student housing. Additionally, all utilities are paid by the Property except for individual electric and select RUBS Billing. Effectuating the Rubs Program consistently throughout the community, as well as billing regularly for parking can bolster existing Net Operating Income.

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Under Contract
Linkwood Apartments
48 Units
4000-4014 Linkwood Road
Baltimore, MD  21210
Type: Conventional
Posted: 11/29/2021

The Cushman & Wakefield Baltimore Single-Family Advisory Group is pleased to present The Belair-Edison Portfolio located in Baltimore, MD. The Offering is comprised of 20 single-family rental units in Northeast Baltimore with centralized management operations. The Portfolio is well positioned for a value-add business plan executing a leasing strategy to attract renters receiving housing vouchers and rental subsidies.

Currently less than 10% of the residents receive rental assitance and rent increases have remained relatively flat over the past 18 months. The opportunity exists to increase rents as much as 20%-25% with minimal capital expenditure, while actively leasing to residents receiving rental vouchers. Single-Family Rentals offer high yields and strong occupancy rates. High-Performance Metrics for Single-Family Rentals include a 99% occupancy rate, 8.5% annualized vacant-to-occupied (V2O), an increase of 5x the 2020 Rate. Baltimore City Housing Voucher Rents consistently outperform comparable market rate levels.

The Majority of the Homes have received modest capital improvements including new rooves, windows, mechanicals, and electrical systems. Other important enhancements include the installation of in-home washer/dryers, central air conditioning, dishwashers, modern appliances, and upgraded kitchen and bathroom finishes.

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Under Contract
The Belair-Edison SFR Portfolio
20 Units
3010 Brendan Avenue
Baltimore, MD  21213
Type: Single Family Rental
Posted: 1/26/2022

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present The Citadel Single-Family Portfolio located in Baltimore, MD. The Offering is comprised of 20 single-family rental units primarily in Northeast Baltimore with centralized management operations. The Portfolio is well positioned for a value-add business plan executing a leasing strategy to attract renters receiving housing vouchers and rental subsidies. With average rents of almost $1,300 the opportunity exists to increase rents as much as $200-$300 with minimal capital expenditure, while actively leasing to residents receiving rental vouchers. Single-Family Rentals offer high yields and strong occupancy rates. High-Performance Metrics for Single-Family Rentals include a 99% occupancy rate, 8.5% annualized vacant-to-occupied (V2O), an increase of 5x the 2020 Rate. Baltimore City Housing Voucher Rents consistently outperform comparable market rate levels.

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Under LOI
The Citadel Single-Family Rental Portfolio
20 Units
Various
Baltimore, MD  21213
Posted: 5/21/2022

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Lofts @ 1521, 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. The Lofts @ 1521 contains 5 residential units and parking in the rear of the Property.

Investors are afforded a compelling opportunity to acquire an apartment building where further value can be created through the cosmetic renovation of existing kitchens and bathrooms, adding modern tasteful finishes, and achieving an attractive ROI. Income can also be bolstered through streamlining management expenses and increasing operational efficiency.

The Property is in close proximity to Baltimore’s Penn Station which 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.

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Under LOI
The Lofts @1521
5 Units
1521 Park Avenue
Baltimore, MD  21217
Posted: 2/21/2022

The Cushman and Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present The Washington Square Apartments, a demonstrated value-add opportunity just 15 minutes from Downtown Philadelphia. Located in Prospect Park, PA, the 30-unit apartment community is perfectly suited for a business plan focused on making substantial rent increases while substantially reducing operating expenses. Washington Square is in excellent condition as The Property has been meticulously maintained through several decades of continuous ownership and regular capital expenditures. Further value can be created through the cosmetic renovation of existing kitchens and bathrooms, adding modern tasteful finishes, and achieving an attractive ROI. Income can also be bolstered through streamlining management expenses and increasing operational efficiency. Rents at the Property trail surrounding comparables of similar vintage by 40%-60%.

Thanks to its affordability and its growing, healthcare-driven economy, Philadelphia has long been known as one of the most stable major apartment markets., with trailing 12-month asking rent growth running at an impressive 9.3% in the fourth quarter of 2021. Suburban apartment performance continues to rise, with many employers allowing their workers to work remotely, Suburban Philadelphia rent growth is forecasted to post a 10% year over year gain, compared to a 4% increase in 2020.

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Under Contract
Washington Square
30 Units
821 Washington Avenue
Prospect Park, PA  19076
Type: Conventional
Posted: 2/21/2022