5 & 11 WESTMINSTER PIKE Reisterstown, MD 21136

GUIDED TOUR MONDAY APRIL 18th PROMPTLY AT 12PM. List price to be opening bid. Online Auction Only! Bidding begins Saturday, April 16th & ends Thursday, April 21st, 2022 at 12:00 pm. Prime Location! Fully Leased 4 Unit Multi-Family Apartment Building on 2 Parcels Totaling 0.59+/- Acres Near The Corner Of Reisterstown Road and Westminster Pike **Current Gross Scheduled Income Of $47,280** Highly visible site with signage and 2 points of ingress/egress located near the intersection of Reisterstown Road and Westminster Pike. The property previously had another structure with retail and apartments that was razed in 2011. (See photo of old 5 Westminster road). The property is currently improved by a 2,200 +/- SF Apartment Building. The units are separately metered for electric. Heat is provided by baseboard electric radiators and AC is provided by window units. Landlord pays for water and sewer as well as hot water. The lower level utility room contains the electric panels and hot water heater. The space is large and has been rented out for storage in the past. Current gross monthly income: $3,940. Current gross scheduled annual income: $47,280. Unit 1A: Main level, 1 BR/1 BA apartment unit currently rented for $990/month. Unit 1B: Main level, 1 BR/1 BA apartment unit currently rented for $1,000/month. Unit 2A: Upper level studio apartment currently rented for $950/month. Unit 2B: Upper level, 1BR/BA apartment unit currently rented for $1,000/month.
Features include: All windows replaced 3 years ago Lead Paint certification for full risk reduction. Septic system was emptied 2 years ago.