Baltimore’s leader in private client multifamily investment sales, has arranged the sale of Kenneth Square Student Housing, a 20-bed student housing asset in the Lake-Evesham neighborhood of North Baltimore. SVN served as exclusive advisor and agent for the seller, Jabber Five Real Estate Group, who purchased the property at auction in 2012.

Located within a short driving distance to Loyola University, Towson University and Notre Dame University of Maryland, the townhomes are extremely popular with college student renters. The area is situated just a couple of blocks south of the Baltimore County Line, and is within walking distance to plenty of restaurants and retail at Belvedere Square and York Road Plaza. The townhomes are a 5-minute drive to Towson and a 15-minute commute to downtown Baltimore.

This fully-stabilized student housing asset sold for $1.46 million to a Baltimore based buyer. Precellent Property Management was brought on to oversee operations moving forward. “Kenneth Square was truly a unique opportunity to purchase a mid-sized, recently constructed student housing asset with a record of 100% occupancy”, indicated Justin Verner, SVN’s Baltimore Multifamily Practice Leader.

Newly built in 2010, this turnkey investment consists of five 4-bedroom, 3.5-bathroom townhomes. Notable apartment features include granite countertops, two-car tandem garages, and in-unit washers and dryers. The townhomes are fully leased through July 2017 with students from Loyola University and Towson University.

Justin Verner, Baltimore Multifamily Practice Leader, and associate Brooks Healy represented the seller in the disposition.The SVN REALSITE Multifamily Team specializes in private client apartment investment sales throughout the Baltimore metro area. For additional information, please visit www.svnrealsite.com and follow us on Twitter @svnrealsite.