Go Back TuesdayMarch 28, 2017 — 12:00pm
Public Auction Sale
** Opening Bid $350,000 ** Fully Leased 7 Unit Apartment Building with Parking and a Detached Garage Located in "Charles Village" near the Johns Hopkins Homewood Campus ** Gross Scheduled Annual Rent of $79,200 **
3026 Saint Paul Street, Baltimore, MD 21218
Location: On the Premises
** Open House: A guided tour of four properties (beginning with 3025-3043 N. Calvert Street - The Gilman) will be held on Tuesday, March 21st promptly @ 11:00am - The tour will include 3026 St. Paul Street, 3002 St. Paul Street, 2834 N. Calvert Street and will begin at 11:00am with a guided tour of 3025-3043 N. Calvert Street (The Gilman).
** Opening Bid: $350,000 **
Exceptional opportunity to purchase a fully leased and well-maintained seven unit apartment building with a with a detached one-car garage and additional parking in the rear located in the heart of Charles Village, minutes from the Johns Hopkins University Homewood Campus.
The unit mix consists of:
- 6 - Two-bedroom units
- 1 - One-bedroom unit
Each unit is separately metered for electricity and the building includes a full basement.
Heat for the building is provided by a gas fired forced air system and a gas fired hot water radiator system. Cooling is provided by window a/c units.
Typical finishes for the units include: wood and tile floors; plaster and drywall walls and ceilings.
- Unit A1: $1,000/month - Move-in Date: 6/2014
- Unit A2: $825/month - Move-in Date: 7/2015
- Unit B1: $850/month - Move-in Date: 7/2015
- Unit B2: $850/month - Move-in Date: 8/2015
- Unit C1: $925/month - Move-in Date: 11/2006
- Unit C2: $800/month - Move-in Date 10/2013
- Bsmnt: $1,200/month - Move-in Date 7/2015
- Garage: $150/month
Current Gross Scheduled Monthly Rent = $6,600
Current Gross Scheduled Annual Rent = $79,200
The landlord pays for common area lighting, hot and cold water and heat. 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: 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 $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.