$2,662,000
$1,500,000
77.5%For more information regarding the value of a property, please contact us for a free consultation.
13,128 SqFt
SOLD DATE : 08/30/2024
Key Details
Sold Price $2,662,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 13,128 sqft
Price per Sqft $202
MLS Listing ID MDBA2116172
Sold Date 08/30/24
Originating Board BRIGHT
Year Built 1930
Annual Tax Amount $13,863
Tax Year 2023
Lot Size 2,889 Sqft
Acres 0.07
Property Description
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.
Location
State MD
County Baltimore City
Zoning OR-2
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 2.0
Water Access N
Accessibility None
Total Parking Spaces 2
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0311120517 013
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Auction
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Bought with Matthew S Cooper • Alex Cooper Auctioneers, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "