List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Thursday, January 23rd & ends Tuesday, January 28, 2024 at 12:00PM. Exceptional opportunity to purchase a substantially leased 6-unit apartment building conveniently located in the "Mt. Vernon" community of Baltimore City. The property's Current Gross Scheduled Monthly Rent for the 5 occupied apartments is $6,035 (Annualized $72,420). The estimated market rent for the first floor vacant office unit is $2,800 (Annualized $33,600). Potential Gross Annual rent at full occupancy is estimated at $106,000. SITE: 27' X 185' +/- parcel zoned C-2 (Commercial) which is served by public water and sewer. IMPROVEMENTS: 4-story masonry building which contains 7,680 +/- sq. ft. of above-grade building area. The first floor is currently vacant and used as offices. (1,813+/- SF). It includes a private entrance, large reception area, conference room, 3 private offices, kitchenette and rear entrance to parking area. There are 5 apartments on the 2nd-4th floors. These include 4 large 1BR/1BA units and 1 large 2BR/1BA unit. The building has 6 parking spaces in the rear. LOCATION: Mount Vernon is a designated National Landmark Historic District and a city Cultural District. It boasts stunning 19th century architecture and well kept parks. Being close to downtown, Mount Vernon is well-served by public transit and is blocks from Light Rail. The neighborhood is home to a mix of institutions, including the Peabody Conservatory, Walters Art Museum, University of Baltimore, Maryland Historical Society, Maryland Institute College of Art, Joseph Meyerhoff Symphony Hall, Baltimore School for the Arts, Lyric Opera House, Center Stage & much more! Zoning Code: Description of the C-2 Commercial Zone. The property is in a C-2, Community Commercial Zone. It allows for a variety of residential, institutional and commercial uses. Pages 447-450 of the Baltimore City Zoning Code document, lists Permitted (P) and Conditional (CB & CO) Uses. "10-204. C-2 Community Commercial District. (a) Areas for which intended. The C-2 Community Commercial Zoning District is intended for areas of small to medium scale commercial use, typically located along urban corridors, that are designed to accommodate pedestrians and, in some instances, automobiles. (b) Standards. The C-2 District standards are crafted to: (1) ensure compatibility among neighboring residential, commercial, and entertainment uses; (2) maintain the proper scale of commercial use; and (3) maintain a balance between high traffic volume and pedestrian circulation."
