Versailles

11 Versailles Cir
Towson MD

Versailles View1

Property Type

Multifamily
Property Size
210 Units
Available Space
Not available
Tenure
Sale
Price
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DescriptionClick Here To View Mapped Property

Click Here To View Mapped Property

JLL, as exclusive agent, is pleased to present Versailles, a 210-unit value-add garden-style rental community located in Towson, Maryland.


Features

One of the most prominent rental communities in Towson, the Property offers new ownership the opportunity to increase rents and drive NOI by completing a unit renovation program. There is the opportunity to upgrade the 149 unrenovated units (71% of the property) with white glazed kitchen cabinets and vanities, stainless steel appliances, granite countertops, wood vinyl floors in kitchen, foyer, and laundry, and Frieze wall-to-wall carpet in living area and bedrooms. These renovations have the potential to achieve $75 average monthly rental premiums and draw tremendous interest from the submarket's affluent renter base associated with local hospitals, universities, and businesses. Versailles benefits from tremendous visibility at the corner of Charles Street and Towsontown Boulevard and is within walking distance to Greater Baltimore Medical Center (GBMC), St. Joseph Medical Center, Gilchrist Hospice, Sheppard Pratt Hospital, and Towson University-some of Baltimore County's largest employers with more than 12,000 employees. The Property has easy access to York Road and I-695 allowing access to several of the region's top employment and retail destination centers including Towson Town Center, The Shops at Kenilworth, and Towson Square. Versailles will allow a new owner the rare opportunity to acquire an institutionally-owned asset with significant value-add potential near some of the best retail and employment centers in greater Baltimore.

Contact broker
Shawn McDonald_Commercial Real Estate Broker
Shawn McDonald

+1 703 891 8425

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Robert Garrish_Commercial Real Estate Broker
Robert Garrish

+1 202 719 5811

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