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List price to be opening bid. Online auction to be conducted on Auctioneers website. Bidding begins Saturday, March 23 & ends Thursday, March 28, 2024 at 1:00 pm. Multi-Family Apartment Complex in Historic "Mount Vernon" with Single Tenant Double Net Lease Structure. The building is configured for 20 total apartments but is currently leased by a recovery center who pays the entirety of the rent. The buildings are distinguished by their original architectural details, which include wood floors, plaster walls, wainscoting, millwork, fireplace mantles, and high ceilings. **Current Gross Monthly Scheduled Rent of $26,000** **Current Annual Gross Scheduled Rent of $312,000** 14 E. Maidson contains approximately 6,486SF of gross building area and has 11 units. 16 E. Madison contains contains approximately 6,642SF of gross building area and has 9 units. An annual 3% increase shall apply after the first 12 month period. The lease is a double net structure. 16 E. Madison Street has two rear parking spaces.

Property Details of 14-16 E Madison Street

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Listed by Matthew S Cooper of Alex Cooper Auctioneers,Inc.

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