Harbor Stone Advisors has been awarded the assignment to market the Imperial at Conkling, a former schoolhouse which was converted to luxury apartments, located in the Highlandtown neighborhood of Baltimore City. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, and Senior Advisor, Tom Wohlgemuth, are marketing the property.
The Imperial at Conkling, located at 201 S Conkling St., features a mix of (1) Studio, (21) 1 Br-1 Ba, and (5) 2 Br-2 Ba layouts. Typical unit features consist of stainless steel appliances, granite countertops, hardwood/ceramic tile flooring, in-unit washer/dryers, and high-end finishes. The property also features private gated parking, a media club room, a pet washing station, and controlled access. Prior ownership completed at total renovation of the property in 2017, which included conversion to apartments as well as updates to all mechanical systems.
The opportunity exists for a new owner to focus on organic rent growth, as nearby comparables are achieving rents at least 20% higher on average. Additionally, the property has an existing CHAP Tax credit which runs through the 2026-2027 tax year.
Boasting a walk score of 96, the property is located less than one mile from the waterfront and some of the best retail, dining, and nightlife the city has to offer, including Mobtown Brewing, Canton Crossing Shopping Center, and O’Donnell Square. Residents are also within a 5-minute drive of some of the city’s largest employers, such as Johns Hopkins Bayview Medical Center, the Kennedy Krieger Institute, and Johns Hopkins Carey Business School.
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.
