ONLINE AUCTION ONLY!
** Opening Bid $300,000 ** Turn-Key Rental Opportunity! Fully Leased & Updated 7 Unit Apartment Building Located in the "Bolton Hill" Area of Baltimore City ** Gross Scheduled Annual Rent of $81,000 **
** Guided Tour/Open House to take place on: Tuesday, April 17th, promptly @ 1pm **
Exceptional opportunity to purchase a fully leased, updated and very well-maintained 7-unit apartment building, conveniently located in desirable "Bolton Hill." The property is also improved by a detached two-car garage.
The unit mix consists of:
• 6 - One-Bedroom units
• 1 - Studio unit
Rent Roll:
• Unit 1: Currently rents for $950/month. Tenant move-in date of 08/01/2017.
• Unit 2: Currently rents for $1,000/month. Tenant move-in date of 10/01/2016.
• Unit 3: Currently rents for $1,050/month. Tenant move-in date of 03/01/2016.
• Unit 4: Currently rents for $900/month. Tenant move-in date of 03/01/2016.
• Unit 5: Currently rents for $1,100/month. Tenant move-in date of 05/01/2016.
• Unit 6: Currently rents for $900/month. Tenant move-in date of 08/15/2017.
• Unit 7 (Studio Basement unit): Currently rents for $850/month. Tenant move-in date of 08/01/2017.
Gross Scheduled Monthly Rent = $6,750/month
Gross Scheduled Annual Rent = $81,000
In addition to an apartment unit, the basement of the building includes a laundry facility for tenants which includes two coin-operated washers and two coin-operated dryers.
Typical finishes for the units include stainless steel appliances and granite counters in the kitchens; wood and ceramic tile floors; drywall and exposed brick walls; drywall ceilings; recessed lighting, ceiling fans and replacement windows.
The units are self-contained with gas forced air heating systems and central air conditioning systems. Each unit is separately metered for gas and electric. Landlord pays for cold water, common area electric and trash collection.
Diligence Package: Rent Roll, leases, lead certificates, MFD License and a copy of the purchase and sale agreement with assorted addenda are located in the documents section of the auctioneers website. In order to gain access, you must create a free account as well as accept a non-disclosure agreement. Link below.
Auction Notes: Timed Online Auction will begin Thursday, May 3rd @ 2:30pm and end on Tuesday, May 8th @ 2:30pm.
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.
