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Go Back ThursdayJanuary 19, 2017 — 1:00pm


Public Auction Sale

**OPENING BID $125,000** Substantially Renovated 3-Unit Apartment Building in "Charles Village" **Scheduled Gross Annual Income of $32,520**

2417 Maryland Ave. Baltimore, MD 21218

Location: On the Premises

Front View

Located in Charles Village, the building has been recently partially renovated. The property is currently fully leased and has enjoyed an almost 100% historical occupancy rate with the current owner.  

Utilities:

  • All units are separately metered for electric and paid for by tenants other than the public service meter
  • Heat is paid for by landlord and is supplied by a gas powered hot water radiator system
  • Cooking fuel is gas and is paid for by landlord

Features include:

  • New 400 amp electric service
  • 4 new electric panels
  • Approximately 75% of electric wiring has been replaced
  • New washer dryer for tenants use
  • All plumbing has been replaced to cpvc & pvc drain lines
  • New basement staircase
  • Recently replaced common area carpet 

Recent Improvements:

  • First floor apartment has refinished flooring and was repainted
  • Second floor apartment has a renovated kitchen, bathroom and replacement carpet
  • Third floor apartment has a renovated kitchen, bathroom and replacement carpet

Please email matt@alexcooper.com for a copy of the rent roll, lead certs, expense list and a sample lease.

Ground Rent: Fee Simple

5% Buyers Premium Added To The Hammer Price

A deposit in the form of cash, cashier's check or certified check for $10,000 is due at the time and place of sale. The difference to bring the deposit up to 10% is due 2 business days after the sale 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.  However, if the Property is improved residential real property, and if Buyer is a first time Maryland homebuyer as defined in MD Tax Property Code §13-203(b), as from time to time amended, who will occupy the Property as Buyer's personal residence, then Seller shall pay the state transfer tax of 0.25% to the extent required by law. 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.

Click Here For The Full Sale Terms In PDF Format


Matthew Cooper Auction Agent
410-977-4711
PLEASE NOTE
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.