Student Housing
Johns Hopkins Student Housing | 100% Leased
5 E Franklin St, Baltimore, MD 21202
Listing Price: $1,063,450
Investment Overview
5 E. Franklin Street offers the opportunity to acquire a fully occupied student housing investment in Baltimore's Mount Vernon neighborhood. The provided February 1, 2027 rent roll includes ten occupied suites with annual base rental income of $94,560 in Year 1 and $108,960 in Year 2. The underwriting includes utility reimbursements of $6,960 in Year 1 and $7,560 in Year 2, a 5.00% general vacancy allowance, and a 4.00% management fee.
Year 1 effective gross revenue is projected at $96,444, with net operating income of $66,675. Year 2 effective gross revenue is projected at $110,694, with net operating income of $78,138. The ten-year forecast applies August 1 rent resets each year after the provided lease years, with 3.00% annual growth beginning in projection Year 3.
The property contains approximately 3,438 square feet of building area, including approximately 1,535 square feet of common area, and has approximately 24.5 linear feet of frontage on Franklin Street.
Johns Hopkins Student Housing | 100% Leased
Investment Highlights
- Durable in-place income. Ten residential suites provide multiple income streams within a single urban asset.
- 100% occupied across 10 suites as of February 1, 2027.
- Meaningful recent reinvestment. The owner-provided cost schedule documents completed capital improvements across the roof, kitchen, bathrooms, interior renovation, and mechanical systems.
- Year 1 base rent of $94,560 and utility reimbursement income of $6,960.
- Year 2 base rent of $108,960 and utility reimbursement income of $7,560.
- Projected Year 1 NOI of $66,675 after vacancy and management allowances. Projected Year 2 NOI of $78,138.
- Mount Vernon location near Peabody Institute, Johns Hopkins, transit, dining, and cultural amenities.
- Embedded cash-flow upside. The underwriting assumes residential rent growth and utility reimbursement growth.
Listing Price: $1,063,450
Investment Highlights
- Durable in-place income. Ten residential suites provide multiple income streams within a single urban asset.
- 100% occupied across 10 suites as of February 1, 2027.
- Meaningful recent reinvestment. The owner-provided cost schedule documents completed capital improvements across the roof, kitchen, bathrooms, interior renovation, and mechanical systems.
- Year 1 base rent of $94,560 and utility reimbursement income of $6,960.
- Year 2 base rent of $108,960 and utility reimbursement income of $7,560.
- Projected Year 1 NOI of $66,675 after vacancy and management allowances. Projected Year 2 NOI of $78,138.
- Mount Vernon location near Peabody Institute, Johns Hopkins, transit, dining, and cultural amenities.
- Embedded cash-flow upside. The underwriting assumes residential rent growth and utility reimbursement growth.
Investment Overview
5 E. Franklin Street offers the opportunity to acquire a fully occupied student housing investment in Baltimore's Mount Vernon neighborhood. The provided February 1, 2027 rent roll includes ten occupied suites with annual base rental income of $94,560 in Year 1 and $108,960 in Year 2. The underwriting includes utility reimbursements of $6,960 in Year 1 and $7,560 in Year 2, a 5.00% general vacancy allowance, and a 4.00% management fee. Year 1 effective gross revenue is projected at $96,444, with net operating income of $66,675. Year 2 effective gross revenue is projected at $110,694, with net operating income of $78,138. The ten-year forecast applies August 1 rent resets each year after the provided lease years, with 3.00% annual growth beginning in projection Year 3. The property contains approximately 3,438 square feet of building area, including approximately 1,535 square feet of common area, and has approximately 24.5 linear feet of frontage on Franklin Street.
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