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TIMED ONLINE AUCTION! Pre-Auction offers will be considered. List Price is Opening Bid only. Registration & bidding begins Friday, October 29th @ 2:00pm and ends Wednesday, November 3rd @ 2:00pm. $10,000 Deposit in order to participate in the auction and a Deposit of 10% of the Purchase Price is due from the winning Bidder within ONE BUSINESS DAY of the conclusion of the auction. Exceptional opportunity to purchase a spacious three-story ten unit mixed-use building well-located within the "Franklin Square" neighborhood of Baltimore City. It is included in both the "Franklin Square Enterprise Zone" and the "Union Square-Hollins Market Historic District." RENTS AND TENANCY: The two commercial units and five of the eight residential units are occupied. Three residential units are vacant. All of the residential units are currently on a month to month tenancy, which originated with annual leases. All tenants are current on their rent as of September 29, 2021. Gross Scheduled Monthly Rent: $5,974 Gross Scheduled Annual Rent: $71,688 Gross Potential Monthly Rent: $7,924 (Based on full occupancy and a market rent of $650 per month for each vacant apartment.) Gross Potential Annual Rent: $95,088 (Based on full occupancy and a market rent of $650 per month for each vacant apartment.) All of the units are self-contained and individually metered for electricity and gas (for cooking only). Heat is provided by individual electric baseboard systems. Hot water for the entire building is provided by the two central hot water heaters located in the basement. The landlord pays for hot and cold water, common area electric and sewer. The tenants pay for their own electricity and gas usage for cooking only. SITE: According to the MD Department of Assessments and Taxation the property comprises 0.10 +/- acres (4,560 +/- sq. ft.) of land area. The site is served by all utilities and zoned C-1 (Commercial - Neighborhood Business Zoning District). IMPROVEMENTS: According to the MD Department of Assessments and Taxation the masonry building contains 8,168 +/- sq. ft. of above-grade building area. The building also contains an unfinished basement with exterior access from the ground level rear. Recent renovations include a new roof, gutters and downspouts for the entire building in 2018 and a new HVAC system for the Daycare unit (1413). . Pre-Auction offers will be considered.
Listed by Nicola M Luciani of Alex Cooper Auctioneers,Inc.

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