SVN Brokers MD Student Housing Sale
The 48-bed community dubbed The Allston features a mix of studio and one- to three-bedroom units that serve students attending Johns Hopkins University.
SVN REALSITE has arranged the sale of The Allston, a 22-unit student housing community serving Johns Hopkins University in Baltimore. The seller, 3111 N. Charles LLC, disposed of the asset for $3.4 million or $152,273 per unit.
Located at 3111 N. Charles St., in the city’s Charles Village neighborhood, the 48-bed property is steps away from the university and offers convenient access to the Baltimore Museum of Art, MedStar Union Memorial Hospital as well as other major employers.
Built in 1900, the 18,400-square-foot community features a mix of studios and one- to three-bedroom units. Common-area amenities include free Wi-Fi, laundry facilities and kitchen.
“We received bids from seven different states, further cementing well-located multifamily product in Baltimore as an investment choice for out-of-area purchasers. The deal ultimately traded to a local buyer,” Justin Verner, senior advisor & leader of SVN REALSITE, said in a prepared statement.
Verner and Brooks Healy were part of the team that brokered the sale. In another recent deal, SVN represented the buyer in a $2.2 million transaction.
Image via Google Street View