Updated 45 Unit Apartment Building known as "Parkside Manor" Overlooking Druid Park in Baltimore City ** Gross Potential Annual Rent of $440,000 +/- **
2906-2910 Reisterstown Road, Baltimore, MD 21215
Exceptional opportunity to purchase an updated, MDE Certified Lead-Free, substantially leased and well maintained forty-five unit apartment building with a Gross Potential Annual Rent of $440,000 +/-. The brick building overlooks picturesque Druid Park and is conveniently located in the "Liberty Square" area of Baltimore City.
A full renovation of the building was completed between 2007 and 2008 and included individual units as well as the building's common areas.
Updates Include:
• New Roof (2008)
• New Sprinkler Fire Alarm System (Monitored)
• New Electrical Wiring
• New Vertical Plumbing Pipes
• New Dual-Pane, Insulated Vinyl Windows
• New Solid Wood Kitchen Cabinets
• New Ceramic Tile Floors in the Kitchen & Bathrooms
• New One-Hour Fire Rated Self-Closing Unit Doors
The building includes:
• 6 - Three bedroom units with 770 +/- sq. ft. of living space
• 22 - Two bedroom units with 700 +/- to 880 +/- sq. ft. of living space
• 17 - One bedroom units with 575 +/- to 770 +/- sq. ft. of living space
The apartment units are self-contained and are separately metered for electricity and sub-metered for water. Each unit includes it's own electric HVAC unit, water heater and stackable washer/dryer.
Please note that although each apartment unit contains it's own sub-meter for water, the tenants are charged a monthly flat-fee by the Landlord for water usage. The current water-meters must be read manually.
Currently 39 of the 45 units are occupied. Many of the tenants have been long term occupants since the 2007/2008 renovations.
A full renovation of the building was completed between 2007 and 2008 and included individual units as well as the building's common areas.
Updates Include:
• New Roof (2008)
• New Sprinkler Fire Alarm System (Monitored)
• New Electrical Wiring
• New Vertical Plumbing Pipes
• New Dual-Pane, Insulated Vinyl Windows
• New Solid Wood Kitchen Cabinets
• New Ceramic Tile Floors in the Kitchen & Bathrooms
• New One-Hour Fire Rated Self-Closing Unit Doors
The building includes:
• 6 - Three bedroom units with 770 +/- sq. ft. of living space
• 22 - Two bedroom units with 700 +/- to 880 +/- sq. ft. of living space
• 17 - One bedroom units with 575 +/- to 770 +/- sq. ft. of living space
The apartment units are self-contained and are separately metered for electricity and sub-metered for water. Each unit includes it's own electric HVAC unit, water heater and stackable washer/dryer.
Please note that although each apartment unit contains it's own sub-meter for water, the tenants are charged a monthly flat-fee by the Landlord for water usage. The current water-meters must be read manually.
Currently 39 of the 45 units are occupied. Many of the tenants have been long term occupants since the 2007/2008 renovations.
Thursday
April 21, 2016 1pm EDT
Auction to be held on premises
Sold Price
$2,782,500
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