Location – This asset is located in Canton, in the eastern portion of the City of Baltimore across from the city’s largest park. This is one of the fastest-growing areas in Baltimore. The property is a 5-minute drive from both Johns Hopkins Hospital and Johns Hopkins Bayview Medical Center. Johns Hopkins Bayview Medical Center is where two of our co-founders work.
Baltimore has six key industry sectors that present further growth opportunities – financial and professional services, health and bioscience technology, culture and tourism, information and creative services, logistics, and advanced manufacturing. 101 Ellwood Apartments and Lofts is a 140 unit boutique apartment community with 71, 251 square feet of on-site parking. Built in 1933 as a high school, the property was converted into multifamily apartments in 2014. Many of the school’s notable features remain, so the property offers a very unique living experience for residents.
Value – XSITE Capital has the opportunity to upgrade the 140 units with Smart Thermostats, upgraded lighting fixtures, add USB charging ports, and more. As well as, modernize the lobby area. The units consist of a mix of one-bedroom and two-bedroom floorplans with some including den, loft, or terrace options. Common area amenities include a rooftop deck with community grills, a fitness center with a yoga room, a business center, a pet care center, an indoor garage, and electric car charging available.