Harbor Stone Advisors, a Mid-Atlantic leader in multifamily investment sales, has orchestrated the sale of Residences at Force Rd, a stabilized garden asset in Northeast Baltimore. Harbor Stone Advisors President Justin Verner, Director Brooks Healy, and Senior Advisor Tom Wohlgemuth served as exclusive advisors to the seller, REJM Frankford LLC.
The Residences at Force Road, located at 5549-5551 Force Rd, features (7) 1 Br-1 Ba and (5) 2 Br-1 Ba. The property is 92% occupied and includes a laundry room with coin-operated machines and street parking for tenants. Former ownership completed a light refresh on 6 units with a scope of updated white appliances and LVT vinyl wood flooring throughout.
Verner noted, “Our team’s marketing efforts yielded 12 offers and more than 390 CAs signed. The sale represents a naturally occurring affordable housing asset within NE Baltimore that has renovation and management repositioning potential to add value. This property consisted of a mix of 1 and 2-bedroom units with some minor recent improvements.”
The Residences at Force Road is located in Northeast Baltimore, with easy access to I-95 and I-895 and only a 20-minute drive to the Inner Harbor. Major area employers nearby are Johns Hopkins Bayview Medical Center, Amazon, MedStar Good Samaritan Hospital, and MedStar Franklin Square Medical Center. The property is minutes from the Rosedale Shopping Center and Parkside Shopping Center, anchored by a Giant grocery store. An 8-minute drive to Golden Ring Shopping Center, featuring Walmart, Sam’s Club, Home Depot, and Giant. A 15-minute drive to White Marsh Mall, with 138 stores, including Macy’s and JC Penny, and a cinema. Towson Town Center, an indoor mall consisting of 172 stores anchored by Nordstrom, Crate & Barrel, Pottery Barn, and Macy’s, is located about 20 minutes away.
About Harbor Stone Advisors
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit www.harborstoneadvisors.com.
