**Owner Liquidation Auction** 14 Fully Leased Condo Units located in the College Park Towers
4330 Hartwick Road, College Park, MD 20740
Recently renovated condominium units in the well located College Park Towers. Buy as few as 2 units or as many as 14!! Current NOI of $152,000!!!!
| Offering #1 (3 Units): | 4330 Hartwick: Unit #509 and #611. 4313 Knox: Unit #603 |
| Offering #2 (2 Units): | 4330 Hartwick: Unit #107 4313 Knox: Unit #413 |
| Offering #3 (2 Units): | 4313 Knox: Unit #303 and #403 |
| Offering #4 (7 Units): | 4330 Hartwick: Unit #303, #308, #410, #511 4313 Knox: Unit #204, #210, #412 |
| Offering #5 (Entirety): | All 14 Units |
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The manner of offering which yields the highest bid will be the manner in which the Property will be sold.
Located directly across the street from The University of Maryland in College Park, MD. The College Park Towers is a 204 unit, 2 building condominium known by students as "Ground Zero" for near-campus living. These high demand units are close to shopping, restaurants, bars and a short walk to the Washington, D.C. metro station.
| 4330 Hartwick | Square Footage | 4313 Knox | Square Footage |
| Unit 107 | 705 +/- | Unit 204 | 720 +/- |
| Unit 303 | 720 +/- | Unit 210 | 711 +/- |
| Unit 308 | 702 +/- | Unit 303 | 720 +/- |
| Unit 410 | 721 +/- | Unit 403 | 720 +/- |
| Unit 509 | 750 +/- | Unit 412 | 714 +/- |
| Unit 511 | 734 +/- | Unit 413 | 702 +/- |
| Unit 611 | 734 +/- | Unit 603 | 746 +/- |
Unit Mix:
11 Triples (3 students in each)
3 Solariums (4 students in each)
Leases:
Leases are yearly and run 6/1-5/31. Rent includes all utilities except phone, cable and internet. Each unit comes with 1 parking space. Additional spots can be acquired thru the condo lottery system. Total building vacancy is approx. 10%.
Renovations:
All units were renovated in the Fall of 2010. Renovations included paint, carpet, kitchen (cabinets, appliances, floor tiles, backsplash) and bathrooms.
- Click here for a copy of the current Cash Flow Statement
- Click here for a copy of the College Park Towers Condo Documents
Exterior
Exterior
Common Area Lobby
Common Area Hallway
Sample of renovated Kitchen
Sample of renovated Bath
Sample of interior unit
There will not be individual appointments to view the units.
Hartwick- Condo Unit 107
Lot #: 1
4330 Hartwick Rd. 107 College Park, MD 20740 Fee Simple |
Hartwick- Condo Unit 303
Lot #: 2
4330 Hartwick Rd. 303 College Park, MD 20740 Fee Simple |
Hartwick- Condo Unit 308
Lot #: 3
4330 Hartwick Rd. 308 College Park, MD 20740 Fee Simple |
Hartwock- Condo Unit 410
Lot #: 4
4330 Hartwick Rd. 410 College Park, MD 20740 Fee Simple |
Hartwick- Condo Unit 509
Lot #: 5
4330 Hartwick Rd. 509 College Park, MD 20740 Fee Simple |
Hartwick- Condo Unit 511
Lot #: 6
4330 Hartwick Rd. 511 College Park, MD 20740 Fee Simple |
Hartwick- Condo Unit 611
Lot #: 7
4330 Hartwick Rd. 611 College Park, MD 20740 Fee Simple |
Knox- Condo Unit 204
Lot #: 8
4313 Knox Rd. 204 College Park, MD 20740 Fee Simple |
Knox- Condo Unit 210
Lot #: 9
4313 Knox Rd. 210 College Park, MD 20740 Fee Simple |
Knox- Condo Unit 303
Lot #: 10
4313 Knox Rd. 303 College Park, MD 20740 Fee Simple |
Knox- Condo Unit 403
Lot #: 11
4313 Knox Rd. 403 College Park, MD 20740 Fee Simple |
Knox- Condo Unit 412
Lot #: 12
4313 Knox Rd. 412 College Park, MD 20740 Fee Simple |
Knox- Condo Unit 413
Lot #: 13
4313 Knox Rd. 413 College Park, MD 20740 Fee Simple |
Knox- Condo Unit 603
Lot #: 14
4313 Knox Rd. 603 College Park, MD 20740 Fee Simple |
5% Buyer's Premium added to the Hammer Price
Summary of Terms of Sale: MANNER OF SALE: The following offerings of the Property will be made. The bids will be reserved for the First, Second, Third and Fourth Offerings. FIRST OFFERING: 4330 Hartwick: Units 509 and 601. 4313 Knox: Unit 603. SECOND OFFERING: 4330 Hartwick: Unit 107. 4313 Knox: Unit 413. THIRD OFFERING: 4313 Knox: Unit 303, 403. FOURTH OFFERING: 4330 Hartwick: Unit 303, 308, 410, 511. 4313 Knox: Unit 204, 210, 412. FIFTH OFFERING: 14 total units as an Entirety. The manner of the offering which yields the highest bid will be the manner in which the Property will be sold. Seller may elect to orchestrate a 1031 exchange which would require Buyer to sign 1031 documents at Closing. A deposit in the form of cash, cashier's check or certified check for $10,000 per offering is due at the time and place of sale. A deposit in the form of cash, cashier's check or certified check for $100,000 for the entirety is due at the time and place of sale. Settlement is 45 days from the sale date. The difference to bring the deposit up to 10% of the purchase price is due 2 business days after the sale in the auctioneer's office. If payment of the balance of the purchase price is not paid within the specified period, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. All expenses, including real estate taxes, 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 costs and transfer taxes to be paid by the purchaser. The property will be sold in "As is" condition without express or implied warranty as to the nature and description of the improvements. The property will be sold subject to easements, agreements, restrictions or 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.
The auctioneer is offering 2.5% broker CO-OP to licensed MD Real Estate brokers/agents.
Contact Agent
Bradd Caplan
443-277-9923
bcaplan@alexcooper.com