Baltimore Commons

Investment Overview

SCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present the opportunity to acquire Baltimore Commons, an 18-unit mixed-use multifamily asset located at 100-108 W Baltimore Avenue in Lansdowne, Delaware County, PA. The property consists of 18 apartment units and one office suite across four buildings on one tax parcel. The residential unit mix includes four one-bedroom units, 14 two-bedroom units, with an office suite that may provide a future conversion opportunity to multifamily use, although no plans are currently in place. Of the 14 two-bedroom units, there is one two-bedroom, one-bath unit, 12 two-bedroom, one-and-a-half bathroom units, and one two-bedroom, two-bathroom unit. The property includes a purpose-built 12-unit apartment building at 100 W Baltimore Avenue, a converted five-unit Victorian building plus an office suite at 108 W Baltimore Avenue, and two rear buildings that include nine private garages and one apartment unit located above the garage area. Additionally, three units receive subsidies from Delaware County Housing Authority (DCHA), and three units receive subsidies from Chester Housing Authority (CHA), providing a subsidized income component within the rent roll. Baltimore Commons offers a clear value-add opportunity through both mark-to-market rent growth and targeted renovations. Current residential rents average $1,350 per month, totaling $24,300 per month. Market rents are projected to average $1,436 per month, totaling $25,840 per month, which represents approximately $1,540 in monthly upside, or a 6.3 percent increase. Upon renovation, projected rents increase to an average of $1,549 per month, totaling $27,875 per month, representing approximately $3,575 in monthly upside, or a 14.7 percent increase over current rents. Units include wall-sleeve air conditioning, gas baseboard heat, electric ranges, and hot water supplied by one water heater per building. Additional property amenities include front and rear parking lots, nine private garages, and laundry facilities located in the lower level of the 100-building. Select units have been updated with finishes such as granite countertops, LVT flooring in kitchens and bathrooms, new appliances, cabinets, and carpet. Located along Baltimore Avenue in Lansdowne, the property benefits from a moderately walkable setting with access to local retail, neighborhood amenities, and public transportation. The property has a Walk Score of 70 and Transit Score of 60, reflecting a convenient location near nearby commercial corridors and SEPTA transit options. Lansdowne Station on SEPTA’s Media/Wawa Line is located nearby, providing regional rail access into Philadelphia and the western suburbs, while SEPTA bus routes 109, 113, and 115 offer additional connectivity throughout Delaware County and surrounding employment centers.

Investment Highlights

• 18-Unit Multifamily Asset in Lansdowne | 18 Apartment Units and One Office Suite Located Along Baltimore Avenue in Lansdowne, Delaware County
• Ample Off-Street Parking & Private Garages | Property has a Front & Rear Parking Lot and 9 Private Garages for Rent
• Subsidized Income Component | Three Units Receive Subsidies from DCHA and Three Units Receive Subsidies from CHA, Providing Additional Rent Roll Stability
• Clear Market and Renovation Upside | Market Rents Represent Approximately $1,540 in Monthly Upside, or a 6.3% Increase, While Renovated Rents Represent Approximately $3,575 in Monthly Upside, or a 14.7% Increase
• Suburban Product in Desirable Location | Well-Positioned Delaware County Multifamily Asset Offering Parking, Garage Amenity, and Access to Local Retail, Transit, and Neighborhood Amenities
• Strong Transit Connectivity | Nearby Lansdowne Station on SEPTA’s Media/Wawa Line and Bus Routes 109, 113, and 115 Provide Connectivity Throughout Delaware County and Philadelphia