241 W Chase St - 241 W Chase St, Baltimore, MD 21201

Opportunity to Acquire Gut-Renovated Asset in Midtown-Belvedere. - Unit mix consists of (10) 1 Br-1 Ba apartments and (1) vacant commercial space. - 70% of apartment tenants are project based NED (Non Elderly Disabled), providing certainty of rental income including 2 months of vacancy income at turnover. - Current ownership completed gut renovation in 2015 which included apartment renovations and installation of new windows and plumbing. Multiple Value-Add Possibilities Still Exist For a New Owner. - Streamline property operations and organically increase rents. - Secure a long term tenant for the ground floor retail. - Refresh all residential units via a light renovation program upon turn. - Future tax savings as property currently has a CHAP tax credit in place through the 2026-2027 tax year. Non-Elderly Disabled (NED's) Contract in Place for 70% of the Apartments. - NED's Contract essentially guarantees rent for 7 of the apartments . - NED's Program has a waiting list of tenants and pays rent for up to 2 months of vacancy. - Typically 2% annual rent growth pegged to HUD increase for Section 8 housing. - NED's Contract expires in December 2030. Well-Positioned in Mid-Town Belvedere, 2 Minute Walk From University of Maryland Medical Center Midtown Campus. - Located less than a mile away from numerous public transportation stops including Penn Station, Light Rail, Subwaylink Metro, and Citylink Bus. - Walkable to dining, retail, and neighborhood cultural staples such as the Lyric Opera House, Meyerhoff Symphony Hall, and the famous Belvedere Hotel. - Major area employers nearby: University of Maryland Medical Center Midtown Campus, Social Security Administration, Agora Financial. - Major area colleges nearby: Maryland Insitute College of Art (MICA), University of Baltimore, Peabody Institute of The Johns Hopkins University