Go Back WednesdayMarch 29, 2017 — 11:00am
Public Auction Sale
** Opening Bid $375,000 ** Fully Leased 6 Unit Mixed-Use End-of Group Building with Rear Parking Located in "Hampden" ** Gross Scheduled Annual Rent of $97,944 **
3401 Keswick Road, Baltimore, MD 21211
Location: On the Premises
** Open House: Wednesday, March 22nd promptly @ 12:00pm **
** Opening Bid $375,000 **
Exceptional opportunity to purchase a fully leased 6-unit, end-of-group, mixed use building conveniently located in the Hampden community of Baltimore City, near Wyman Park and minutes from the Johns Hopkins Homewood Campus.
The unit mix consists of:
- 1 - Commercial unit on 1st floor (Padma Salon)
- 3 - One-bedroom residential units
- 2 - Two-bedroom residential units
Typical finishes for the residential units include: carpet, wood, vinyl tile and laminate floors; drywall walls; drywall and exposed wood beam ceilings; replacement windows.
- Unit 1: $850/month - Move-in Date: 7/2013
- Unit 2: $850/month - Move-in Date: 11/2013
- Unit 3: $1,100/month - Move-in Date: 11/2015
- Unit 4: $1,150/month - Move-in Date: 9/2014
- Unit 5: $995/month - Move-in Date: 2/2013
- Padma Salon: $3,217/month - Move-in Date: 1/2008
Current Gross Scheduled Monthly Rent = $8,162
Current Gross Scheduled Annual Rent = $97,944
The 1st floor commercial tenant pays 65% of the water bill and 50% of the real estate taxes for the entire building. The unit is separately metered for gas and electricity and includes its own heating and cooling systems.
The landlord pays for common area lighting, hot and cold water and heat for the residential tenants. Residential tenants have the choice of paying a higher rent which includes their share of the natural gas and water bills or being billed retroactively by the landlord for their pro-rated share of each.
Ground Rent: Annual Ground Rent of $50
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 $25,000 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. Settlement is 60 days from the sale date. 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. 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.
Click Here For The Full Sale Terms In PDF Format
This property is part of a 2-day auction sale assemblage.
Click on the links below to view the properties which are to be auctioned.
3025-3043 N. Calvert Street, Baltimore, MD 21218 - Rarely Available 27 Unit Apartment Complex in "Charles Village"
3026 Saint Paul Street, Baltimore, MD 21218 – Fully Leased 7 Unit Apartment Building with Parking in the Rear and a Detached Garage in "Charles Village"
3002 Saint Paul Street, Baltimore, MD 21218 - Well-Maintained 6 Unit Apartment Building in "Charles Village"
2834 N. Calvert Street, Baltimore, MD 21218 - Well-Maintained 5 Unit Apartment Building in "Charles Village"
3401 Keswick Avenue, Baltimore, MD 21211 - Fully Leased 6 Unit Mixed-Use End-of-Group Building in "Hampden"
4301 Buchanan Avenue, Baltimore MD 21211 & 1333-1339 Roland Heights Avenue, Baltimore, MD 21211 - MDE Certified Lead-Free & Fully Leased 12 Unit Apartment Complex in "Medfield"
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.