Online Bidding Only, Register To Bid @ alexcooper.com/133woodst
Fully Leased six-unit apartment building 2 blocks from Frostburg University. There is an on-site parking lot available for tenants.
The property was recently refreshed with new paint, a few replacement windows, and exterior cleaning. Of importance, the roof over Unit A was replaced in 2017.
Leases run from August to May. While all units are occupied, there is significant upside available to lease one more bedroom in unit A and two more bedrooms in Unit B. Each tenant pays on average about $3,750/bedroom so you have approximately an additional $11,250 annual rental income potential without doing any additional improvements to the property.
Current Annual Rent -
Unit A - $10,200
Unit B - $11,100
Unit C - $11,100
Unit D - $7,400
Unit E - $7,200
Unit F - $7,000
Current annual gross rental income of $54,000.
All units are separately metered for electric and paid for by tenants. Landlord pays for water/sewer and common area electric. Heat in each unit is provided by electric baseboard heaters.
To view the full diligence package, please visit alexcooper.com/133woodst
Terms of Sale:
To view the full terms of sale, please visit alexcooper.com/133woodst
Online Bidding notes:
To bid on this property please register at alexcooper.com/133woodst
133 Wood St Frostburg, MD 21532
$54,000 Gross Annual Scheduled Rental Income
Timed Online Auction:
Saturday, November 25th, 2017 12:30 pm EST
Thursday, November 30th, 2017 12:30 pm