SVN REALSITE, a leading edge commercial real estate brokerage and advisory firm based in Baltimore, MD has arranged the sale of East Biddle Luxury Apartments, located at 16 E Biddle Street in the Mount Vernon neighborhood of Midtown Baltimore.

The transaction was arranged by Justin Verner, Senior Advisor and leader of SVN REALSITE’s Multifamily Practice, and Brooks Healy, SVN REALSITE Advisor. SVN was selected to represent Zahlco Development in the disposition.The asset saw multiple offers in a short time span and was ultimately sold in an all cash transaction to a Washington D.C. based group.

The property consists of 15 units containing 2 two-bedroom units, and 13 one-bedroom units. It was gut renovated in 2013, with upgrades including hardwood floors, heated tile flooring, designer bathrooms, granite countertops, custom cabinetry, stainless steel appliances and split system heating and air. Additionally, the building features a 10 year CHAP tax credit.

Situated in historic Mount Vernon, the property is located in close proximity to many restaurants and shops. Penn Station, University of Baltimore, Joseph Meyerhoff Symphony Hall, and the Belvedere Hotel are located within blocks of the subject property.

“16 E Biddle is a high quality asset in a very desirable, Midtown Baltimore location,” indicated Justin Verner. “The majority of bids were from out-of-state buyers. Baltimore continues to look favorable from a yield perspective as compared to other major Northeast and Mid-Atlantic cities."

The SVN REALSITE Multifamily Team specializes in private client apartment investment sales throughout the Baltimore metro area. For additional information, visit the multifamily section of their homepage at www.svnrealsite.com and follow them on Twitter @svnrealsite.