List price to be opening bid. Online auction to be conducted on Auctioneers website. Bidding begins Saturday, November 11, 2023 & ends Thursday, November 16, 2023 @ 12:00pm. 7-Unit Building in Prestigious Mount Vernon, Baltimore City. Indulge in the brilliance of this property's renovations and offer tenants an unmatched living experience in Mount Vernon. An investment that combines historical charm with modern comforts. Overview- Fully leased, offering a strong, consistent return. Located in the historic and sought-after Mount Vernon neighborhood of Baltimore City, putting tenants in the heart of culture, dining, and entertainment. 2018 Full-Scale Renovations: Comprehensive gut renovation, breathing new life into every corner. Modernized infrastructure: All-new electrical systems. New plumbing to provide a hassle-free living experience.- The building is fully sprinklered + monitored fire alarm. Aesthetic and Functional Upgrades: Fresh drywall throughout, offering a blank canvas for tenants. State-of-the-art kitchens featuring the latest appliances. Elegant tile work and floor refinishing, merging durability with design. Replacement windows that blend style with energy efficiency. Units 1, 2, 4, 6, 7 are Lead Free. The remaining units have full risk reduction certificates due to renovations complying with The Commission for Historical and Architectural Preservation (CHAP) guidelines. Luxury Amenities: Convenience: Integrated stacked washer/dryers in all units. All units have dishwashers. Comfort: Individual hot water heaters and dual wall-mounted heating & A/C units in every apartment. Security: Modern intercom system, ensuring secure access. Parking for all units. Pad in rear for 3 cars and parking permits for 4 (area 28 residential permits).Utility Information: Separate gas and electric meters for each unit, facilitating straightforward billing. Special Note: Units 1 & 2 have a shared hot water system and split the gas bill. Electric bill for Unit 1 is factored into the public service electric meter.Rent Roll: Unit 1: Studio apartment, rented for $930/month. (Lease expired: 09/30/2024) Unit 2: Studio apartment, rented for $910/month. (Lease expires: 02/29/2024) Unit 3: 2 bedroom, 2 bath apartment, rented for $1,850/month. (Lease expires: 03/31/2024) Unit 4: 1 bedroom, 1 bath apartment rented for $1,350/month. (Lease expires: 06/30/2024) Unit 5: 1 bedroom, 1 bath apartment rented for $1,285/month. (Lease expires: 05/31/2024)
Unit 6: 1 bedroom, 1 bath apartment rented for $1,325/month. (Lease expires: 07/31/2024)
Unit 7: 1 bedroom, 1 bath apartment rented for $1,285/month. (Lease expires: 07/31/2024) Parking Spot #1: rented by Unit 2 for $150/month Parking Spot #2: rented by Unit 3 for $150/month Parking Spot #3: rented by Unit 4 for $150/month. Current Monthly Rent of $9,385. Annual Scheduled Rent of $112,620