Harbor Stone Advisors, a Mid-Atlantic leader in multifamily investment sales, has been retained by outlier Realty Capital as the exclusive agent for the sale of Highland Court, 78 units located in Odenton, MD, within close proximity to Fort Meade. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, are marketing the property.
Highland Court Apartments represents a unique, middle-market opportunity to acquire 78 units in Odenton, MD. The unit mix consists of (19) 1 Br-1 Ba, (58) 2 Br-1 Ba, and (1) 2 Br-1 Ba with a den. Typical unit features include white or black appliances, wood cabinets, formica countertops, some dishwashers, and garbage disposals. There are (4) laundry rooms on-site, a surface parking lot, and every unit has a patio or balcony. Current ownership began a unit renovation program in 2019 and has completed 26 units. An additional 3 are in progress with new or refinished cabinets, new appliances, updated countertops, LVT flooring, and updated bathrooms, which have achieved average rental premiums of $134 for 1 bedrooms and $238 for 2 bedrooms. Value opportunities include renovating the remaining 49 classic units, enhancing kitchen renovations with the addition of breakfast bars, adding washer/dryers to all units, continuing the implementation of water reimbursements, and amenitizing the ample communal green space.
Highland Court Apartments are conveniently located in Odenton, MD, just 20 minutes to Annapolis, 30 minutes to Baltimore, 45 minutes to Washington D.C., and 20 minutes to Columbia. A MARC train stop (on the Penn line, with service between DC and Baltimore) is located minutes from Highland Court. Maryland’s largest employer is Fort George G. Meade, located 10 minutes from the subject property and employing over 57,327 people. Fort Meade is home to 6 of the 8 U.S. Department of Defense (DoD) cyber defense agencies, including the National Security Agency (NSA) and the U.S. Cyber Command. It generates $27B in total output and $13B in wages. Johns Hopkins Healthcare's Odenton location, consisting of two pavilions, is just a 3 minute drive from the subject property. Hopkins employs a total of 855 people in Anne Arundel County. Highland Court is located just around the corner from Odenton Shopping Mall, featuring a Giant, Starbucks, Five Guys, and a Subway.
Learn more about the property here.
About Harbor Stone Advisors:
Harbor Stone Advisors specialize 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
