214 E Biddle St

214 East Biddle is located within the Mount Vernon neighborhood in Baltimore City, one of the city’s oldest neighborhoods littered with museums, theatres, libraries, boutique shops and cafes. The subject property is five minutes away from Maryland Institute College of Art (MICA), one of the country’s premier art schools. In addition, University of Baltimore is a few blocks away from the property. The property is just minutes away from the historic Bolton Hill neighborhood, which features significant landmarks such as the former home of author F. Scott Fitzgerald, and the Francis Scott Key monument. Walkability is the name of the game and the property is within walking distance of a plethora of retail and entertainment. This historic neighborhood features attractions like the Washington Monument, Walters Art Museum, and the George Peabody Library. Top eateries include the Prime Rib, Restaurante Tio Pepe, and Sotto Sopra. Nearby live entertainment venues include Baltimore Symphony Orchestra, The Lyric, and Baltimore Center Stage. The property is a 10-minute walk from Baltimore’s historic Penn Station, which is set to receive $150 million in renovations in the coming years. Penn Station offers convenient access to public transportation, with access to Amtrak trains and the MARC commuter train to Washington, D.C. Additionally, the property is less than a half-mile from the nearest LightRail Station, which provides direct access north to Hunt Valley and south to BWI Airport. The nearest Subway Station, which provides direct access to Johns Hopkins Hospital (30,000 employees), is less than one mile away.Harbor Stone Advisors is pleased to present 214 E Biddle, a gut-renovated asset located in Historic Mount Vernon. The property is a 7 minute walk from University of Baltimore and a half mile from UMMC Midtown Campus. 214 E Biddle is also a 10 minute walk to Penn Station, which is under going $150 million worth of renovations over the next several years. The property features 6 apartments with a unit mix of (1) Studio and (5) 1 Br-1 Ba units. Current ownership completed a comprehensive gut renovation in 2013 which included updating the apartments as well as the plumbing and mechanical systems. Typical unit features include white appliances, formica counter tops, tile/carpet/hardwood floors, and wood cabinets. All but 1 unit are project-based NEDs (Non Elderly Disabled), with the contract expiring in October 2029. The opportunity exists for a new owner to either renew the NED contract or convert all units to market upon expiration. There is also an ability to perform a light unit renovation upon turn with a suggested scope of updated appliances and modern hardware/fixtures.