Go Back WednesdayMarch 8, 2017 — 1:00pm
Fully Leased 6 Unit Apartment Building in "Reservoir Hill" with a Gross Annual Scheduled Rent of $71,388
2419 Callow Ave., Baltimore, MD 21217
Exceptional opportunity to purchase a renovated apartment building with on-site parking, conveniently located in the historic "Reservoir Hill" community of Baltimore City. The building is MDE Certified Limited Lead-Free.
- Refinished exterior
- Lead free building
- High-end Kitchens and Bathrooms
- Forced air heat with gas furnaces
- All units separately metered for electric and gas
- Washer/Dryer in each unit
- Off street parking in rear of building
- Unit 1: $971/Month - Move in 8/1/10
- Unit 2: $1149/Month - Move in 10/1/10
- Unit 3: $950/Month - Move in 7/1/14
- Unit 4: $1000/Month - Move in 12/1/11
- Unit 5: $905/Month - Move in 9/1/10
- Unit 6: $974/Month - Move in 12/15/15
Current gross monthly rent of $5,949
Current gross annual potential rent based on current occupancy of $71,388
2017 Insurance Policy is $3,555
2016 RE Taxes $6,136
Water/Sewer Bill on average $180/month
Dumpster Service $125/month
Ground Rent: Fee Simple
5% Buyers Premium Added To The Hammer Price
Summary of Terms of Sale: A deposit in the form of cash, cashier's check or certified check for $15,000 is due at the time and place of sale. The difference to bring the deposit up to 10% is due within 2 business days in the auctioneer's office. If payment of the additional deposit or the balance of the purchase price is not made within the specified periods, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Settlement is 60 days from the sale date. All expenses, including real estate taxes, sanitary and/or metropolitan district charges, special assessment 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.
NOTE: Alex Cooper Auctioneers is acting as agent for the Owner in this transaction. Alex Cooper Auctioneers is not acting as agent for the successful bidder. Any buyer-broker is acting as an agent for the successful bidder and is not a sub-agent of Alex Cooper Auctioneers.
** NOTICE TO BUYER: IF YOU ARE CONTEMPLATING FINANCING FOR THIS PURCHASE, APPLICATION MUST BE MADE WITH A LENDER AND TITLE COMPANY NO LATER THAN SEVEN (7) DAYS FROM THE DATE OF THIS SALE.
The information contained herein was obtained from sources deemed reliable, but is offered for informational purposes only. The Auctioneer, the Sellers, and their respective agents and representatives do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection.