Overview

  • Offering Price $4,900,000
  • Total Units 78
  • Price / Unit $62,821
  • Total Properties 29
  • Building Size 76,305 GSF

Global Real Estate Advisors (GREA) extends to qualified investors the opportunity to acquire the fee simple interest in Upton Druid Apartments, a 78-unit family affordable housing community including 29 properties in Baltimore, Maryland. All units are 100% supported by a Project-Based Section 8 HAP contract, specifically under a Mark-to-Market structure. The HAP contract was recently renewed in September 2025 for an additional 20-year term, extending through September 2045, providing long-term, stable, government-backed income.

The Properties benefit from consistent rent support through HUD, with annual rent increases tied to OCAF adjustments, with the next rent schedule taking effect in September 2026. The Mark-to-Market Use Agreement, originally executed in 2005, remains in place through 2035.

The Properties have recently shown significant operational improvement, achieving a REAC score of 86 in February 2026, which is currently pending final HUD review. This reflects improved physical condition and positions the asset favorably moving forward.

While current ownership is limited to annual OCAF rent increases under the existing structure, there remains a clear opportunity to improve operations and overall performance through hands-on management and continued property upgrades. This affordable housing portfolio represents the only asset current ownership owns and manages in Baltimore, creating an opportunity for operational efficiencies for a local investor with an existing presence in the market.

  • — 100% Project-Based Section 8: Rents Heavily Subsidized by the Federal Government
  • — Social Impact: Strong Potential for Mission-Driven Investment; Preserve Affordable Housing
  • — Immediate Economies of Scale: 78 Units within Blocks of Each Other with a Central Leasing Office
  • — Proximity to Public Transit: Upton and State Center Baltimore Metro Subway Stations, and Bus Routes 5, 7, and 21 Nearby
  • — Access to Major Employers: Convenient to University of Maryland Medical Center and Johns Hopkins University