96% Occupied Apartment Complex comprising 85 Units Known as "Nottingham South Apartments" Located in the "Hunting Ridge" Area of Baltimore City ** Gross Potential Annual Rent of $744,000 **
700-704, 705, 706-708, 707, 709 Nottingham Road, Baltimore, MD 21229
707 Cooks Lane, Baltimore, MD 21229
OFFERED AT 4.5m Excellent opportunity to purchase an apartment complex comprised of six buildings totaling 85 units. The complex is located in the "Hunting Ridge" Community of Baltimore City which is conveniently located minutes away from MD Rte. 40, I-70, I-695 and the Social Security Administration.
Nottingham South Apartments is a garden style apartment community with ample on-site parking, on-site laundry facilities, storage units for tenants and a playground. The complex enjoys a 96% occupancy rate.
The unit mix consists of:
- 41 - One-bedroom units with 531 +/- to 663 +/- sq. ft. of living space
- 33 - Studio units with 457 +/- sq. ft. of living space
- 11 - Two-bedroom units with 738 +/- sq. ft. of living space
The units are separately metered for electricity, which is paid by the respective tenant(s). The tenants also pay the landlord a flat fee for water.
Heat is provided by a central gas fired hot water radiator system located in each building. Individual thermostats are located in each unit, which allow the tenant(s) to control the temperature in their respective units. Cooling is provided by in-wall A/C units.
Hot water to units is provided by a central gas fired hot water heater located in each building.
The landlord pays for common area lighting (public service meter), water and natural gas.
Currently 82 of the 85 units are occupied.
Please call Lamar Karriem for a copy of the rent roll and expenses.
Ground Rent: Fee Simple
5% BUYERS PREMIUM ADDED
Summary of Terms of Sale: A deposit in the form of cash, cashier's check or certified check for $100,000 is due at the time and place of sale Settlement is 60 days from the sale date. If payment of the balance of the purchase price is not made within the specified periods, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. All expenses, including real estate taxes, sanitary and/or metropolitan district charges, special assessment and private utility charges are to be adjusted to date of settlement and assumed thereafter by the purchaser. Cost of all documentary stamps, settlement costs and transfer taxes to be paid by the purchaser. The property will be sold in "As is" condition without express or implied warranty as to the nature and description of the improvements. The property will be sold subject to easements, agreements, restrictions or covenants of record affecting the same, if any. Dimensions and acreage are more or less. Time is of the essence as to the terms of this contract.
