"Arundel Gardens" Fully Leased Apartment Building 4 Units - $3,090 Current Gross Monthly Income

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Listing Details

Sold Price
$246,000
Auction Date
Auction Time
2:00 PM
Address
5815 Lednura Road, Anne Arundel County, MD, 21225
County
Anne Arundel County
Neighborhood
Arundel Gardens, Brooklyn Park
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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REAL ESTATE AUCTION
- Anne Arundel County, MD -

Fully Leased, 4 Unit
APARTMENT BUILDING
$3,090 Current Gross Monthly Income
Lead-Free Certification

Sale On Premises
5815 LEDNURA ROAD
a/k/a 5815 Lednura Street
"Arundel Gardens"
Off Hammonds Lane 21225

THURSDAY, NOVEMBER 15, 2012
AT 2:00 P.M.


NOTE:  The information contained herein has been obtained from sources deemed reliable and is believed to be accurate.  However, no express or implied warranty is made or may be inferred from any such representation.  Dimensions, square footage and acreage contained herein are more or less.  Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION & DIRECTIONS:

5815 Lednura Road is located west of Richie Highway and south of Hammonds Lane in the Brooklyn Park neighborhood of northern Anne Arundel County.  The area is just north of the Baltimore Beltway (I-695) and is convenient to shopping, public transportation and employment centers.  Nearby public schools are Brooklyn Park Elementary, Brooklyn Park Middle and North County High.  Neighborhood housing is mostly comprised of single family homes, increasing demand for rental housing.

For directions from your location, visit: maps.google.com

 

SITE AREA

Square lot 50' x 50', at the corner of Camrose Avenue

On-site parking

Public water and sewer

SUBDIVISION PLAT (pdf)

 

IMPROVEMENTS

Two story, free-standing, vinyl sided apartment building, constructed in approximately 1942 and containing, according to public tax records, 1,920 square feet of living area and 104 square feet of basement space.  The building contains 4 one-bedroom apartment units, each separately metered for electricity.  Upper level units have balconies.  The exterior has a built up roof and vinyl -clad double hung windows.  Each apartment has a separate exterior entrance.


Example Interior Photos:
Photos of auction property
LIVING ROOM - PHOTO #1    LIVING ROOM - PHOTO #2   
KITCHEN    BATH    LAUNDRY ROOM    SEPARATE ENTRANCE

 

 


OPERATING INFORMATION:
Units are leased on an annual basis with monthly rents ranging from $725 to $775 per month.  An average $90 per month income is derived from on-site laundry facilities.  Tenants pay for their own electricity.  Landlord provides gas hot water heat and water.


Additional Information is available - please complete and sign this: WAIVER AND CONFIDENTIALITY AGREEMENT (pdf) and return it to the office of the Auctioneer, by email: info@ajbillig.com or fax: 410-296-4420.

  • MDE Lead Free Certifications
  • Leases
  • Permitted Non-conforming Use from Anne Arundel County Zoning
  • Multi-Dwelling License
  • Tax Bill

 

TITLE

The property is in fee simple and sold free and clear of liens.  Anne Arundel County Deed Liber 17470, page 157.

 

INSPECTION TIME

The building will be open for inspection at 1:00 p.m. on the day of sale.  In consideration of the tenants, there will be no prior inspection.

 

TERMS OF SALE

A $20,000 deposit, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale.  The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's office.  Balance to be paid in cash at settlement, which shall take place within 45 days.  If payment of the balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. All adjustments, including taxes, rents, all other public charges and assessments payable on an annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of settlement and assumed thereafter by the purchaser.  The property will be sold in "AS IS" condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any.  Purchaser assumes the risk of loss from the date of sale forward.  The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law.   If the Seller is unable to convey good and marketable title, the purchaser's sole remedy in law or equity shall be limited to the refund of the deposit.  Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law.  Time is of the essence.


No buyer's premium.

 

FINANCING

See our Financing Page for a list of auction-oriented lenders.