An 11-unit multifamily property in downtown Baltimore has changed hands for $1 million. Located in the historical Mount Vernon neighborhood at 814 Park Ave., the Apartments on Park, was last renovated in 2006. Made up of seven one-bedroom units and four efficiencies, the property is situated close to major bus lines and the State Center Metro Station. Washington, D.C.-based Greysteel brokered the deal to the buyer, Peerless LLC.
“The Apartments on Park received tremendous attention from the buyer community due to its size and location. (…) Coupling the recent improvements with strong property and market fundamentals, the buyers will be able to secure favorable financing terms,” said Lance Ahmadian, Greysteel Investment Associate.
