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121 Washington Avenue

CHESTERTOWN, MD 21620
  • $850,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: MDKE2001432
UPDATED: 54 min ago
$850,000
  • 0
    BEDS
  • 0.53
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1920
County:

School Ratings & Info

School District:

Description

GUIDED TOUR ON THURSDAY, MAY 26TH, PROMPTLY AT 11:30 AM! List price to be opening bid for online only auction. Registration and bidding begins Thursday, June 2nd and ends on Tuesday, June 7, 2022 @ 12:00 pm 13-Unit Apartment Complex Located in the +G+Chestertown+G- Area of Kent County **Gross Potential Annual Rent of $160,200** Exceptional opportunity to purchase a 13-Unit Apartment Complex comprised of 2 adjacent buildings. One building contains 7-units, the other contains 6-units. Each unit is self-contained with an electric hot water heater, electric baseboard heating, window unit A/C and separate electric meters. Tenants pay for electric. Each unit has its own parking spot. There are approximately 7+ additional parking spaces which can be used as paid parking for the tenants or others commuting to Washington College. The landlord pays water, sewer, trash/dumpster and electric for all common areas. Per the seller: "over the last 2 years we have made approx. $150,000 in capital improvements". 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: $12,180. Current Gross Scheduled Annual Rent: $146,160. Potential Gross Monthly Rent: $13,300. Potential Gross Annual Rent: $160,200 Unit Mix: Building A, located facing Washington Avenue. Includes Units A1-A7 (7-Units): +G- 3 Units are 2 bedrooms / 1 full bathroom +G- 2 Units are 1 bedroom / 1 full bathroom +G- 2 Units are studios. Building B, located behind building A towards Philosophers Terrace. Includes Units B1-B6 (6-Units): +G- 5 Units are 2 bedrooms / 1 full bathroom +G- 1 Unit is 1 bedroom / 1 full bathroom. Rent Roll: A1 (1 Bedroom / 1 Bath): Currently Rented for $950/monthly. A2 (2 Bedrooms / 1 Bath): Currently Rented for $1,000/monthly.A3 (1 Bedroom / 1 Bath): Currently Rented for $825/monthly. A4 (2 Bedrooms / 1 Bath): Currently Rented for $1,200/monthly. A5 (2 Bedrooms / 1 Bath): Currently Rented for $1,111/monthly. A6 (Studio): Currently Rented for $770/monthly. A7 (Studio): Currently Rented for $700/monthly. B1 (2 Bedrooms / 1 Bath): The tenant is currently month to month. Currently Rented for $1,225/monthly. B2 (2 Bedrooms / 1 Bath): Currently Vacant; was previously Rented for $1,050/monthly. B3 (2 Bedrooms / 1 Bath): Currently Rented for $1,050/monthly. B4 (2 Bedrooms / 1 Bath): Currently Rented for $1,100/monthly. B5 (2 Bedrooms / 1 Bath): Currently Rented for $1,250/monthly. B6 (1 Bedroom / 1 Bath): Currently Rented for $999/monthly. Seller Expenses: Taxes: $10,210+/- for the year 2022, Projected water/sewer: $4,400+/- for the year 2022, Insurance: $3,600+/- for the year 2022. Projected Electric for common area: $1,000+/- for the year 2022. Projected trash pickup: $1,200+/- for the year 2022. Cutting grass: $500+/- for the year 2022. Some of the improvements include: Remodeled bathrooms and kitchens in some of the units, Replaced some of the gutters, New electric meter stack in Building B, Replaced some hot water heaters, new flooring, granite counter tops, stainless steel appliances, Washer and dryers. Note: these improvements were not added to every unit.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Bright Home Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-26T12:54:41.317.
www.brighthomesdelmarva.com/homes/128574126
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121 Washington Avenue CHESTERTOWN, MD 21620

  • Price: $850,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 54 min ago
  • ID#: MDKE2001432
0
Beds
0
Baths
0
½ Baths
0.53
Acres
1920
Built
County:
Kent
School District:
Kent County Public Schools
Property Description
GUIDED TOUR ON THURSDAY, MAY 26TH, PROMPTLY AT 11:30 AM! List price to be opening bid for online only auction. Registration and bidding begins Thursday, June 2nd and ends on Tuesday, June 7, 2022 @ 12:00 pm 13-Unit Apartment Complex Located in the +G+Chestertown+G- Area of Kent County **Gross Potential Annual Rent of $160,200** Exceptional opportunity to purchase a 13-Unit Apartment Complex comprised of 2 adjacent buildings. One building contains 7-units, the other contains 6-units. Each unit is self-contained with an electric hot water heater, electric baseboard heating, window unit A/C and separate electric meters. Tenants pay for electric. Each unit has its own parking spot. There are approximately 7+ additional parking spaces which can be used as paid parking for the tenants or others commuting to Washington College. The landlord pays water, sewer, trash/dumpster and electric for all common areas. Per the seller: "over the last 2 years we have made approx. $150,000 in capital improvements". 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: $12,180. Current Gross Scheduled Annual Rent: $146,160. Potential Gross Monthly Rent: $13,300. Potential Gross Annual Rent: $160,200 Unit Mix: Building A, located facing Washington Avenue. Includes Units A1-A7 (7-Units): +G- 3 Units are 2 bedrooms / 1 full bathroom +G- 2 Units are 1 bedroom / 1 full bathroom +G- 2 Units are studios. Building B, located behind building A towards Philosophers Terrace. Includes Units B1-B6 (6-Units): +G- 5 Units are 2 bedrooms / 1 full bathroom +G- 1 Unit is 1 bedroom / 1 full bathroom. Rent Roll: A1 (1 Bedroom / 1 Bath): Currently Rented for $950/monthly. A2 (2 Bedrooms / 1 Bath): Currently Rented for $1,000/monthly.A3 (1 Bedroom / 1 Bath): Currently Rented for $825/monthly. A4 (2 Bedrooms / 1 Bath): Currently Rented for $1,200/monthly. A5 (2 Bedrooms / 1 Bath): Currently Rented for $1,111/monthly. A6 (Studio): Currently Rented for $770/monthly. A7 (Studio): Currently Rented for $700/monthly. B1 (2 Bedrooms / 1 Bath): The tenant is currently month to month. Currently Rented for $1,225/monthly. B2 (2 Bedrooms / 1 Bath): Currently Vacant; was previously Rented for $1,050/monthly. B3 (2 Bedrooms / 1 Bath): Currently Rented for $1,050/monthly. B4 (2 Bedrooms / 1 Bath): Currently Rented for $1,100/monthly. B5 (2 Bedrooms / 1 Bath): Currently Rented for $1,250/monthly. B6 (1 Bedroom / 1 Bath): Currently Rented for $999/monthly. Seller Expenses: Taxes: $10,210+/- for the year 2022, Projected water/sewer: $4,400+/- for the year 2022, Insurance: $3,600+/- for the year 2022. Projected Electric for common area: $1,000+/- for the year 2022. Projected trash pickup: $1,200+/- for the year 2022. Cutting grass: $500+/- for the year 2022. Some of the improvements include: Remodeled bathrooms and kitchens in some of the units, Replaced some of the gutters, New electric meter stack in Building B, Replaced some hot water heaters, new flooring, granite counter tops, stainless steel appliances, Washer and dryers. Note: these improvements were not added to every unit.
Exterior Features

Construction Materials Other Garage YN No Parking Types Parking LotDriveway Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 8190.00 Cooling Window Unit(S)Other Heating Baseboard - Electric Heating YN Yes Net Square Feet 0.00

Property Features

Accessibility Features None Business Type Apartment Building Central Air YN No Cooling Fuel ElectricOther Heating Fuel Electric Hot Water Electric Municipality Chestertown Navigable Water YN N New Construction YN No Number Of Units Total 2 Original MLSNumber 801555073196 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Auction Sewer Public Sewer Tax Annual Amount 0.00 Tax Assessment Amount 0.00 Vacation Rental YN No Water Source Public Zoning R-3

Listing courtesy of Alex Cooper Auctioneers, Inc..


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Bright Home Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-26T12:54:41.317.
 
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