Sold
CLOSED
4610 Wallington Ave
Baltimore MD, 21215
$2,406,200
$167.20 per sqft
Sold
CLOSED
14,391 sqft
Commercial
Built in 1963
** BANKRUPTCY SALE ** BEING SOLD ONLY AS AN ENTIRETY ALONG WITH 3915-3921 BELVIEU AVENUE ** LIST PRICE IS OPENING BID FOR THE ENTIRETY ** TIMED ONLINE AUCTION! Pre-Auction offers may be considered. ** Upcoming Guided Tour: Friday, February 10th promptly at 12:00pm. ** Auction registration & bidding begins Saturday, February 11th @ 2:00pm and ends Thursday, February 16th. $20,000 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. Excellent opportunity to purchase an MDE Certified Lead-Free apartment complex comprised of 42 units which is conveniently located in the "Dolfield" Community of Baltimore City. The multi-building garden style assemblage includes ample on-site parking and contains seven buildings split between two tax accounts. 4610-4614 Wallington Avenue was issued a Multi-Family Dwelling License by Baltimore City for eighteen units on January 23, 2023. 3915-3921 Belvieu Avenue was previously issued a Multi-Family Dwelling License by Baltimore City for twenty-four units which has expired. The purchaser will be responsible for applying to Baltimore City for the issuance of a new license and for any necessary renovations and repairs. 3917 Belvieu Avenue has been condemned by Baltimore City. (Please refer to CODE VIOLATION NOTICE AND ORDER - Notice Number: 2192637A.) The building sustained considerable damage due to a recent fire which took place in 2022. The owner is working with their insurance company, but they are not planning to renovate any units or repair any damage to the building. The purchaser will be responsible for all necessary renovations and repairs. The buildings contain both market and subsidized tenants and the unit mix consists of: 3 - One-bedroom units (575 +/- sq. ft.) 18 - One-bedroom plus Den units (732 +/- sq. ft.) 21 - Two-bedroom units (732 +/- sq. ft.) Twenty-four of the forty-two units were vacant as of January 20, 2023. * Gross Scheduled Monthly Rent = $14,225/month (Based on the Rent Roll as of January 20, 2023) * Gross Scheduled Annual Rent = $170,700//year (Based on the Rent Roll as of January 20, 2023) * Gross Potential Monthly Rent = $35,700/month (Based on full occupancy and a market rent of $850/month for each of the forty-two units) * Gross Potential Annual Rent = $428,400/year (Based on full occupancy and a market rent of $850/month for each of the forty-two units) The units are self-contained and separately metered for gas and electricity which are paid by the individual tenants. Each unit contains it's own gas fired forced air system and central A/C system. Hot water to the units is provided by central gas fired hot water heaters. The landlord pays for common area lighting, water/sewer and natural gas for the central hot water heaters. The buildings underwent extensive renovations in 2010/2011 which were undertaken by the previous owner. DILIGENCE DOCUMENTS: A copy of the rent roll as of 01/20/2023, active and expired MFD Licenses, Code Violation Notice and Order - Notice Number: 2192637A, select annual expenses for 2022, a lead-free lead certificate, any available leases and/or lease addenda, a Property Registration Confirmation Letter from Baltimore City DHCD and the purchase and sale agreement including assorted addenda are available for review at the auctioneer's website. There are also a large number of additional photos available for viewing. Please reach out to the Listing Agent for more information. Thank you.
MDBA2072582
MLSⓇ ID
January 18, 2023
Listed
September 5, 2024
Updated
Map
4610 Wallington Ave
Baltimore MD, 21215
Interior Features
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Forced Air, Natural Gas
Exterior/Building Features
Lot Size
0.28 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Baltimore City
Taxes
$12,881
Tax Frequency
Annually
Days on Market
31
Garage
No
Parking
On Street
View
No
County
BALTIMORE CITY
Water Source
Public
Pool
No
Listed by Nicola M Luciani, with Alex Cooper Auctioneers, Inc.
Listing Contact: 4434654761
The IDX display contains information sourced from the Bright MLS, Inc. as of 9/5/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 9/5/2024 at 10:44 PM UTC