3912 W Northern Pky
Baltimore, MD 21215
Hilltop Gardens Apartments: 50 Total Units · Multifamily Property For Sale · 50 Units

Timed-Online Auction Only: Bidding Begins Thursday, December 6th @ 2:00pm and ends Tuesday, December 11th @ 2:00pm. ** Opening Bid: $1,500,000 ** 5 Building Apartment Complex Comprising 50 Units Known as "Hilltop Gardens Apartments" Located in the "Glen" Area of Baltimore City ** Gross Potential Annual Rent of $503,088 Based on Full Occupancy ** 3912-3930, 3932-3950, 3951-3965, 3952-3970, 4001-4013 W. Northern Parkway, Baltimore, MD 21215 ** Guided Tour/Open House to take place on: Wednesday, December 5th, promptly @ 12pm ** Exceptional opportunity to purchase an apartment complex comprised of five buildings totaling 50 units. The complex is conveniently located near the intersection of W. Northern Parkway and Reisterstown Road in the "Glen" Community of Baltimore City. Hilltop Gardens Apartments is a garden style apartment community with ample on-site parking and on-site laundry facilities. The complex is MDE Certified Limited Lead-Free and enjoys a 96% occupancy rate (48 of the 50 units are occupied). Gross Scheduled Monthly Rent = $40,017 Gross Scheduled Annual Rent = $480,204 Gross Potential Monthly Rent = $41,924** Gross Potential Annual Rent = $503,088** ** = Based on Full Occupancy (See income statement in documents section) The unit mix consists of: • 16 - One-bedroom units with 564 +/- sq. ft. of living space • 34 - Two-bedroom units with 932 +/- sq. ft. of living space Five out of the fifty units have been renovated with new kitchens (counters + cabinets + appliances), new bathrooms and new light fixtures, while one unit (3951 A1) is unfinished, framed and in need of renovation. Typical finishes include carpet and tile floors for the basement units and wood and tile floors for the above grade units; drywall walls and ceilings; some ceiling fans. The units are self-contained with gas fired forced air heating systems, central air conditioning systems and gas fired hot water heaters. The units are separately metered for gas and electric, which is paid by the respective tenant(s). Most tenants also pay the landlord a flat fee for water as "extra rent.". The landlord pays for common area lighting (public service meter) and cold water. Do not miss this one! Diligence Package: A copy of the rent roll, income statement, lead certificate, MFD Licenses and 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. 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. Online bidding only available using a desktop web browser. Online bidding WILL NOT work using mobile devices and tablets running iOS or Android.