Online Bidding Only, Register To Bid @ alexcooper.com/133woodst

Property Description: 

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. 

Rent Roll:

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.

Select Expenses:

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.

Taxes: $5,651
Insurance: $3,465
Water/Sewer: $4,261
Power: $1,849
Waste: $2,454

Diligence Package:

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