Baltimore, MD 21215,5018-5032 DENMORE AVE
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Baltimore, MD 21215,5018-5032 DENMORE AVE
Baltimore, MD 21215,5018-5032 DENMORE AVE
Baltimore, MD 21215,5018-5032 DENMORE AVE
Baltimore, MD 21215,5018-5032 DENMORE AVE

$3,570,000

Est. payment /mo

$2,500,000

42.8%
Est.Price: ?

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5018-5032 DENMORE AVE Baltimore, MD 21215

45,565 SqFt

SOLD DATE : 09/09/2024

Key Details

Sold Price $3,570,000

Property Type Commercial

Sub Type Five Or More Units

Listing Status Sold

Purchase Type For Sale

Square Footage 45,565 sqft

Price per Sqft $78

MLS Listing ID MDBA2129446

Sold Date 09/09/24

Originating Board BRIGHT

Year Built 1960

Annual Tax Amount $46,594

Tax Year 2024

Lot Size 1.069 Acres

Acres 1.07

Property Description

List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Additional photos can also be found on the auctioneer's website. Bidding begins Saturday, July 6th & ends Thursday, July 11th, 2024 @ 1:00 PM. A great opportunity to purchase a 46,565+/- SF multifamily apartment building on a 1.07+/- Acre Lot. Nearly all of the units are rented with Section 8 tenants. The buildings are configured with 45 residential apartment units and the buildings are all two story with stairs. There are 40 2-bedroom units and 5 1-bedroom units. All the units are lead free and the currently rented units have all been updated. The Rental Property License is for 44 units. There are approx. 30 parking spaces and there are several laundry rooms throughout the complex. The exterior of the buildings are all brick. The property is zoned R-6. Location: The property is located along the west side of Denmore Avenue, between Spaulding Ave. & West Garrison Ave. Denmore Avenue is a one-way, one-lane street with a southeasterly traffic flow. It is conveniently located near Park Heights Ave. which gives easy access to shopping, restaurants and retail establishments. There are bus stops nearby. **Current Gross Monthly Rent of $49,153** **Current Gross Annual Rent of $589,836**.
Per the seller: **Potential Gross Monthly Rent of $52,809** **Potential Gross Annual Rent of $633,708**
Currently 4 of the units are vacant and 2 pending occupancy. Unit features: All currently rented units have been updated. Each unit has a newer central A/C system, a modern thermostat and a furnace for forced hot air heat. They all have laminated wood floors. Approx. Current Tenant Occupancy: Section 8 vouchers - 72%, Other rental assistance programs - 18%, Market Tenants - 10%.

Location

State MD

County Baltimore City

Zoning R-6

Interior

Hot Water Other

Heating Forced Air

Cooling Central A/C

Heat Source Natural Gas

Exterior

Garage Spaces 30.0

Water Access N

Accessibility None

Total Parking Spaces 30

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Baltimore City Public Schools

Others

Tax ID 0327204581 009A

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Auction

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Bright MLS (BMLS)
Listed by Larry E Cooper • Alex Cooper Auctioneers, Inc.
Bought with Larry E Cooper • Alex Cooper Auctioneers, Inc.

Phil Di Ruggiero

License Partner | Team Leader | License ID: DC SP98360490

+1(202) 725-2250

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