133 Wood St, Frostburg , MD

Multi-family for Sale - $100,000


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Agent Info

NameDaniel Taylor-Neumann

Property Info

CIMLS #969860
Location133 Wood St
Frostburg MD 21532
Last UpdatedNovember 15th, 2017
TypeMulti-family
Price$100,000
DemographicsView data

Contact


Property Description

Online Bidding Only, Register To Bid @ https://realestate.alexcooper.com/auction-property/1-JAJKQ/six-unit-apartment-building-in-frostburg-2-blocks-from-frostburg-university-54-000-gross-annual-scheduled-rental-income

Tour, 12pm sharp Monday, 20th of November

Opening Bid: $100,000

Timed Online Auction:

Begins:

Saturday, November 25th, 2017 12:30 pm EST

Ends:‚Äč

Thursday, November 30th, 2017 12:30 pm

EST

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 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

https://realestate.alexcooper.com/auction-property/1-JAJKQ/six-unit-apartment-building-in-frostburg-2-blocks-from-frostburg-university-54-000-gross-annual-scheduled-rental-income

Online Bidding notes:

To bid on this property please register at

https://realestate.alexcooper.com/auction-property/1-JAJKQ/six-unit-apartment-building-in-frostburg-2-blocks-from-frostburg-university-54-000-gross-annual-scheduled-rental-income


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