Groveland House Apartments
10 Unit Apartment Building | $450,000 ($45,000/Unit) | Baltimore, MD 21215
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $450,000
- Property Type
-
Multifamily
- Square Feet
- 12,096 SF
Listing Contacts
Matt Cooper
Verified Profile
Larry Cooper
Verified Profile
- Property Info
Property Overview
Guided Tour Monday, September 9th Starting Promptly at 10:00am.
List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Saturday, September 7th & ends Thursday, September 12, 2024 at 1:00 PM.
A great opportunity to purchase a fully occupied 10-Unit multifamily apartment building in the West Arlington neighborhood; on 0.4989+/- acres, with 12.096 sq. ft. of above ground living area (according to SDAT). There are a few off street parking spaces. The lower level includes a laundry area & storage bays for the residents.
Unit details: all 10 units have 2 bedrooms and 1 full bath, living room, dining room and kitchen. There are wood type floors.
**Current Gross Monthly Rent of $8,695
**Current Gross Annual Rent of $104,340
Location: The property is located in the West Arlington neighborhood: "Marked by its historic water tower, the northwestern Baltimore neighborhood of West Arlington retains the quiet charm and well-maintained streets Arlington was known for throughout the 20th century. The streets of West Arlington are lined up with well-structured homes with large square footage, large lots, tree-lined streets and well kept lawns and alleys.".
The community is:
Accessible to public transportation-bus line, Metro, Light Rail.
Accessible to malls (Security Square, Mondawmin, Towsontown).
Close proximity to hospitals - Sinai, Northwest.
Within minutes of major highways - Jones Falls Expressway (83), the Beltway (695), 95, 70, 795.
Quick commute to other areas - downtown, entertainment, sporting events.
The above information is copied from the West Arlington Improvement Association of Baltimore City, Inc. website; https://www.westarlington.org/
The property is zoned R-5: (a) Neighborhoods. The R-5 Transitional Residential Zoning District is intended for those areas that facilitate a transition from primarily single-family neighborhoods to neighborhoods that contain a wider mix of housing types. (b) Housing types. The R-5 District is meant to accommodate single-family units in both detached and semidetached dwellings, rowhouse developments, and limited low-rise multi-family garden apartment developments of a moderate density. The above is copied from Article 32 Zoning; Published by Baltimore City Department Of Legislative Reference.
Projected Expenses: $39,956/yearly
Real Estate Taxes - $14,759/yearly
Diligence Package: Copy of the purchase and sale agreement, lead cert, rental license with assorted addenda are located in the documents section of the auctioneer's website, link below. In order to gain access, you must create a free account as well as accept a non-disclosure agreement.
Auction Notes: Online Auction Only! Bidding begins Saturday, September 7th & ends Thursday, September 12, 2024 at 1:00 PM.
Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.
List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Saturday, September 7th & ends Thursday, September 12, 2024 at 1:00 PM.
A great opportunity to purchase a fully occupied 10-Unit multifamily apartment building in the West Arlington neighborhood; on 0.4989+/- acres, with 12.096 sq. ft. of above ground living area (according to SDAT). There are a few off street parking spaces. The lower level includes a laundry area & storage bays for the residents.
Unit details: all 10 units have 2 bedrooms and 1 full bath, living room, dining room and kitchen. There are wood type floors.
**Current Gross Monthly Rent of $8,695
**Current Gross Annual Rent of $104,340
Location: The property is located in the West Arlington neighborhood: "Marked by its historic water tower, the northwestern Baltimore neighborhood of West Arlington retains the quiet charm and well-maintained streets Arlington was known for throughout the 20th century. The streets of West Arlington are lined up with well-structured homes with large square footage, large lots, tree-lined streets and well kept lawns and alleys.".
The community is:
Accessible to public transportation-bus line, Metro, Light Rail.
Accessible to malls (Security Square, Mondawmin, Towsontown).
Close proximity to hospitals - Sinai, Northwest.
Within minutes of major highways - Jones Falls Expressway (83), the Beltway (695), 95, 70, 795.
Quick commute to other areas - downtown, entertainment, sporting events.
The above information is copied from the West Arlington Improvement Association of Baltimore City, Inc. website; https://www.westarlington.org/
The property is zoned R-5: (a) Neighborhoods. The R-5 Transitional Residential Zoning District is intended for those areas that facilitate a transition from primarily single-family neighborhoods to neighborhoods that contain a wider mix of housing types. (b) Housing types. The R-5 District is meant to accommodate single-family units in both detached and semidetached dwellings, rowhouse developments, and limited low-rise multi-family garden apartment developments of a moderate density. The above is copied from Article 32 Zoning; Published by Baltimore City Department Of Legislative Reference.
Projected Expenses: $39,956/yearly
Real Estate Taxes - $14,759/yearly
Diligence Package: Copy of the purchase and sale agreement, lead cert, rental license with assorted addenda are located in the documents section of the auctioneer's website, link below. In order to gain access, you must create a free account as well as accept a non-disclosure agreement.
Auction Notes: Online Auction Only! Bidding begins Saturday, September 7th & ends Thursday, September 12, 2024 at 1:00 PM.
Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.
Property Details
- Class
- C
- Year Built
- 1969
- Stories
- 3
- Lot Size (sq. ft)
- 21,780 SF
- Units
- 10
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