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** List Price is Opening Bid only. ** TIMED ONLINE AUCTION! Pre-Auction offers will be considered. ** Upcoming Guided Tour: Thursday, February 10th promptly at 1:00pm. Face Masks and Social Distancing/Limited Grouping will be required for participation. ** Auction registration & bidding begins Friday, February 11th @ 2:00pm and ends Wednesday, February 16th @ 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. Gross Scheduled Monthly Rent: $5,974 Gross Scheduled Annual Rent: $71,688 SELLER COMMENTS: All tenants are current on their rent payments as of December 29, 2021. 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 gas and electric. Heat is provided by individual electric baseboard systems. Hot water for the entire building is provided by two central hot water heaters located in the lower level. The landlord pays for hot and cold water, common area electric and sewer. The tenants pay for their own gas and electric. 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 lower level 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.

Property Details of 1413 W Baltimore St

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Listed by Nicola M Luciani of Alex Cooper Auctioneers,Inc.

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