Read the eNewspaper

Real Estate

North Avenue apartment building gets new owner

North Avenue apartment building gets new owner

A new investor has purchased a 67-unit apartment building in the Station North Arts District for $2.75 million.

The buyer, Herbert Kerschbaumer of Real Estate Investment Services LLC, said he plans to spend about $500,000 renovating the building, known as the Boundary Square Apartments, installing a new roof and HVAC system, and redoing bathrooms, kitchens, paint and floors.

The property, which has a rowhouse exterior and was last renovated in the 1990s, is located in the 300 block of E. North Ave. across from Baltimore's school headquarters. It achieved notoriety as a drug den in 2000, when police raided the property, but the surrounding area has seen increased investment...