Closed /
MLS #MDKE2001754 /
Commercial / Mixed Use /
Chestertown
Listing information updated 6/20/2023 at 11:59am
List price to be opening bid at online only auction. Registration and bidding begins Thursday, August 18th and ends on Tuesday, August 23rd, 2022 @ 1:00 pm. 6-Unit Apartment Building Located in the in Chestertown Area of Kent County **Gross Annual Rent of $93,420** . Exceptional opportunity to purchase a 6-Unit Apartment Building. All the units are separately metered. Each upper level unit has access to a balcony. The units on the main level have access to the front porch. Most units have wood type floors. There is off street parking available. Location: Chestertown is in Kent County; the apartment complex is conveniently located just a few blocks over the Chester River Bridge (Rte 213). The property has a convenient location near dining, shopping, schools, recreational facilities, and access to transportation routes. The building is located blocks away from Washington College, the University of MD Medical Center and the Downtown Historic District. Current Gross Scheduled Monthly Rent: $7,650. Current Gross Scheduled Annual Rent: $93,420. Unit Information: All 6 units include 2 bedrooms, 1 full bath, a kitchen and a living area. Units 1 & 2 are located on the main level. Units 3 & 4 are located on the second level. Units 5 & 6 are located on the third level. The lower level is not occupied. The units on the main level and 3rd floor have central air and force hot air heat. The units on the 2nd level have mini-split A/C with heat. Rent Roll: Unit 1 (2 Bedrooms / 1 Bath): Currently Rented for $1,050/monthly. Unit 2 (2 Bedrooms / 1 Bath): Currently Rented for $1,450/monthly. Unit 3 (2 Bedrooms / 1 Bath): Currently Rented for $1,200/monthly. Unit 4 (2 Bedrooms / 1 Bath): Currently Rented for $1,350/monthly. Unit 5 (2 Bedrooms / 1 Bath): Currently Rented for $1,150/monthly. Unit 6 (2 Bedrooms / 1 Bath): Currently Rented for $1,450/monthly. Rent Increase: For unit 1 the Rent will increase from $1,050 to $1,185, starting August 1, 2022. ***Seller Expenses:Taxes: $5,316+/- for the year 2022. Projected water/sewer: $2,000+/- for the year 2022. Projected Propane Gas for Hot Water: $3,000+/- for the year 2022. Insurance: $2,579 for the year 2022. Projected Electric for common area: $700+/- for the year 2022.
Listing Office: Alex Cooper Auctioneers, Inc.
Listing Office Phone: 410.828.4838
Disclaimer: The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2025 Bright MLS, Inc.
