Hendrickson Townhomes 281 Hendrickson Ln

Harbor Stone Advisors is pleased to present Hendrickson Townhomes, a rare value-add opportunity in Baltimore County. Located in the heart of Towson, Hendrickson Townhomes is less than a 10-minute drive away from 3 of the top employers in the county: Towson University, University of Maryland St. Joseph Medical Center, and Greater Baltimore Medical Center (GBMC). The property is also a 5-minute walk away from the Towson Town Center, home to numerous retail shops and restaurants, and Stanley Black and Decker.
Hendrickson Townhomes consists of 29 units with a mix of (6) 2 Br-1 Ba apartments, (20) 3 Br-1.5 Ba townhomes, and (3) 4 Br-1.5 Ba townhomes. Typical unit features include white appliances, wood cabinets, laminate countertops, and carpet/vinyl plank/ceramic tile flooring. The property also has a surface parking lot with 48 spaces. The opportunity exists for a new owner to renovate all of the units at Hendrickson Townhomes with a suggested scope of stainless steel appliances, granite countertops, updated bathrooms, and vinyl plank flooring throughout. Comparable properties nearby are achieving rents at least 25% higher on average than the Subject property. A new owner can also evaluate shifting the tenant base to predominantly market and/or student housing, implement a water reimbursement program upon renewal and/or new lease, reposition management, and cut unnecessary expenses.