Laurel Portfolio (Laurel Gardens, KC Terrace & The Berkeley)

The Offering

130 units built from 2026, 2019 and 2008 offered for $27,600,000 by the original developer who is self managing. It’s rare to buy new construction in PG County as the last built project was in 2022 (great supply constraint!) The units are 100% market rate with zero rent control. The Laurel location is abutting the Howard County line. There have been no crime reports at the properties.

114 2BR/2BA units at 980sf with washer/dryer. 16 2BR/1BA units at 840sf with washer/dryer.  Laurel Gardens features a single 980 sf floor plan with the only variable being the third floor has 14 foot vaulted ceilings (no premium currently being charged).

These two and three-story walk-up buildings have no common hallways reducing operating expenses. are conveniently positioned near Main Street, walkable to the Laurel MARC Station, over 100 retail options including Food Lion and bust stop access.

Investment Highlights

• Seller take back of $3m at 5% accrued for 3 years being offered.

• 6% cap on T12; 6.5% cap year 1

• 114 Laurel Gardens may be purchased for $25mm without the 8 unit KC Terrace and 8 unit Blakely

• The leasing office is not included in the rent roll and is kept vacant as a rent-ready model

• Current rents are $1,625 ($235 under market). Renovated rents $2,110 based on comparables

• In-place rents sit beneath the submarket’s 80% AMI thresholds

• 2025 fire burns down 12 units, which are rebuilt and occupied at $1,860

• Property fell out of contract – all 3rd party were clean including the PCR

• 2026 tax assessment fought and won, dropping the assessment by $3,823,600, locking in two and half years more years of predictable taxes! T12 taxes adjusted in notes