$979,700
$600,000
63.3%For more information regarding the value of a property, please contact us for a free consultation.
3,315 SqFt
SOLD DATE : 01/05/2024
Key Details
Sold Price $979,700
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 3,315 sqft
Price per Sqft $295
MLS Listing ID MDBA2103320
Sold Date 01/05/24
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $6,802
Tax Year 2022
Lot Size 1,692 Sqft
Acres 0.04
Property Description
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
Location
State MD
County Baltimore City
Zoning OR-2
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 3.0
Water Access N
Accessibility None
Total Parking Spaces 3
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0311010486 004
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Auction
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Bought with Jared T Block • Alex Cooper Auctioneers, Inc.
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Agent | License ID: 0225193218 - VA, 5003479 - MD
+1(703) 298-7037 | jason@jasonandbonnie.com