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Two Fully Leased Multi-Family Dwellings -
$60,000 Gross Annual Rent -
Centrally Located in Charles Village
** The two properties will be sold as an entirety only. **
** Please allow extra time to find parking prior to the sale. **
Excellent opportunity to purchase two fully leased, well-maintained, multi-family dwellings generating a total of $60,000 in Gross Annual Rent. The buildings include three apartment units each, for a total of six apartment units. They are conveniently located in the heart of Charles Village, close to the JHU Homewood Campus, Union Memorial Hospital and local shopping.
The three story brick buildings are partitioned into one bedroom apartments on the first levels, two bedroom apartments on the second levels and efficiency apartments on the third levels. Each apartment includes a fully equipped kitchen with a dishwasher. Finishes for the apartments include carpet and tile floors and replacement windows. Each building also has a full, unfinished basement.
All utilities are paid by the tenants. 3217 Guilford Avenue includes seperate electric meters for each apartment unit and has a gas fired, hot water radiator heating system. 3219 Guilford Avenue has one electric meter for the building and has an oil fired hot water radiator heating system. Cooling for each building is provided by eight window A/C units which will transfer with the real estate.
Additional features include rear decks and hardwired security systems for the apartments located on the first two levels of each building.
Recent improvements to the exterior of the buildings include new concrete walls for the stairwells leading down to both basements, along with freshly painted decks and assorted trim. As for the interiors, the common areas of both buildings have been freshly painted.
Each building comprises 2,094 sq. ft. +/- of above-grade living area and each is situated on a 0.05 acre lot. Both lots are zoned R-8 (Residential).
Leases, Lead Certificates, Multi-Family Licenses, Rent Rolls and an Income & Expense Statement for each building are available upon request.
At least 24 hr. advanced notice required for all appointments to view the properties.
Ground Rent: Fee Simple
Terms of Sale: The two properties will be sold as an entirety only.
A deposit in the form of cash, cashier's check or certified check for $40,000 is due at the time and place of sale. The difference to bring the deposit up to 10% of the purchase price is due within 3 business days after the sale in the auctioneer's office. Settlement is 45 days from the sale date. If payment of the balance of the purchase price is not paid within the specified period, the deposit will be forfeited and the properties may be resold at the risk and expense of the defaulting purchaser. All income and expenses, including real estate taxes, and all utilities which are not the obligation of tenants to pay, if any, and all sanitary and/or metropolitan district charges, special assessments and private utility charges are to be adjusted to date of settlement and assumed thereafter by the purchaser. Cost of all documentary stamps, settlement fees and transfer taxes are to be paid by the purchaser. The properties will be sold in "AS IS" condition without express or implied warranty as to the nature, condition or description of the properties or the improvements, or their suitability for any particular purpose. The properties will be sold subject to easements, agreements, restrictions, encroachments and covenants of record affecting the same, if any. Dimensions and acreage are more or less. Time is of the essence as to the terms of this contract.
Click Here For The Full Sale Terms In PDF Format
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