1200 N Caroline St
Baltimore, MD 21213
1200 & 1202 N. Caroline St. Baltimore, MD 212 · Multifamily Property For Sale · 12 Units

Fully-Leased and Recently Updated 12-Unit Apartment Complex Located in the “Oliver” Area of Baltimore City **Gross Scheduled Annual Rent of $130,368** (9 of 12 Tenants are on Housing Assistance Program Contracts) TAX IDs: 0310011162-044 ; 0310011162-043 Exceptional opportunity to purchase a 12-Unit Apartment Complex comprised of 2 adjacent buildings. One building contains 8-units, the other contains 4-units. The complex was recently updated (2019) and is located in the "Oliver" neighborhood of Baltimore City. Gross Scheduled Monthly Rent: $10,864 (Includes Storage Garage Rent) Gross Scheduled Annual Rent: $130,368 (Includes Storage Garage Rent) 9 out of 12 of the tenants are on a HAP contracts which pays for a portion of their rent. LOCATION: Oliver is a neighborhood in the Eastern district of Baltimore City which is adjacent to Johns Hopkins Medical Campus and minutes from the Inner Harbor. The property is located on the southernmost part of “Oliver”, bordering the “Gay Street” area of Baltimore City. Public transportation is easily accessible. Unit Mix: 1200 N. Caroline Street (8-Units): • 7 Units are 2 Bedrooms / 1 Full Bathroom • 1 Unit is a Studio / 1 Full Bathroom 1202 N. Caroline Street (4 Units): • 2 Units are 2 Bedroom / 1 Full Bathroom • 2 Units are Studio / 1 Full Bathroom The property is improved by 2 buildings totaling 12 units. 10 of the 12 units have been recently updated. Many of the updates took place in 2019. The updates includes: • new windows • new electric service • new water heaters • new appliances • new kitchens and bathrooms • common area improvements Typical finishes for the units include stainless steel appliances, updated counter tops in the kitchens and recently renovated bathrooms. The units also have wood, laminate and ceramic tile floors. Each building contains its own central gas radiator heating system (the units are not self-contained). Cooling for each building is provided by window air conditioning units. Each unit is separately metered for electricity. Some tenants pay their own electric, while others have it included in their lease as part of their rental payment. Tenants also reimburse landlord for water and sewer on a prorated basis. Landlord pays for heat and hot water for all tenants. Diligence Package: Rent roll, leases, lead certificate, MFD licenses and a copy of the purchase and sale agreement with assorted addenda are located in the documents section of the auctioneers website, link below. In order to gain access, you must create a free account as well as accept a non-disclosure agreement. Auction Notes: Registration and bidding begins Friday, April 17th @ 1:00 pm and ends on Wednesday, April 22nd @ 1:00 pm Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. The information contained herein was obtained from sources deemed reliable but is offered for informational purposes only. The auctioneer, the sellers and their respective agents and representatives do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection.