"Hyattsville/New Carrollton - Frenchman's Creek Condominium"

- Investor Opportunity - Income Producing -
Garden Apartment Condo Unit
2 Bedrooms & Bath
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Listing Details

Sold Price
$65,000
Auction Date
Auction Time
1:45 PM
Address
5536 Karen Elaine Drive #1602, New Carrollton, MD, 20784
County
Prince George's County
Neighborhood
Hyattsville, New Carrollton, Frenchman's Creek Condominium
Inspection
The property will be open for inspection on the day of sale only.
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description and Terms of Sale.

 REAL ESTATE AUCTION 

- Investor Opportunity -

8 - INCOME PRODUCING
CONDOMINIUM UNITS
Located In
Montgomery County, MD &
Prince George's County, MD

 - $50,000 Suggested Opening Bids - 

Sales On the Premises
WEDNESDAY, MARCH 16, 2016
At the Times Noted Below

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.

    The auction features eight well maintained condominium units, rented under yearly leases, most with rentals paid by the Housing Opportunities Commission (HOC) or similar agency.  Apartments will be available for viewing approximately one hour prior to the times of sale - no prior inspections.  Units are sold subject to existing leases and include appliances.  Pre-auction offers will be considered.  

At 11:00 A.M. - 5 Units
MILLS CHOICE & NORMANDIE ON THE LAKE II CONDOMINIUMS
Montgomery Village, Montgomery County, MD 20886

Auction to Be Held at 19116 Mills Choice Road #1

    Five garden apartment condominium units, built in 1981, have gas forced warm air heat and central air conditioning. Monthly condominium fee includes utilities, heat and air conditioning.

Address Monthly Rent Description
19116 Mills Choice Road #1
"Mills Choice"
$1,330 First floor garden apartment unit - 2 bedrooms and bath, 794 square feet; annual taxes $850; monthly condo. fee $425.09
Condominium Resale Package
18800 Walkers Choice Road #4
"Normandie On The Lake II"
$1,925 Second floor garden apartment unit - 3 bedrooms, 2 baths, 1,410 square feet; annual taxes $1,220; monthly condo. fee $685
Condominium Resale Package
18806 Walkers Choice Road #4
"Normandie On The Lake II"
$1,890 Second floor garden apartment unit - 3 bedrooms, 2 baths, 1,134 square feet; annual taxes $1,035; monthly condo. fee $685
Condominium Resale Package
19000 Mills Choice Road #6
"Mills Choice"
$1,675 Upper level garden apartment unit - 2 bedrooms, 1 bath, 842 square feet; annual taxes $905; monthly condo. fee $450.56
Condominium Resale Package
18917 Mills Choice Road #1
"Mills Choice"
$1,975 Townhouse-style condominium unit - 3 bedrooms, 2 baths, 1,404 square feet; annual taxes $1,331; monthly condo. fee $754.02
Condominium Resale Package

 

Each unit in Mills Choice and Normandie On The Lake II will be offered individually and the bids reserved.  Then, all five units will be offered as an entirety.  The sale will be made in the manner producing the greater amount.

At 1:00 P.M.
CHELSEA WOODS CONDOMINIUM
Greenbelt, Prince George's County, MD 20770

Address Monthly Rent Description
8653 Greenbelt Road #101 $1,935 Circa 1970, first floor garden apartment unit - 4 bedrooms, 2 baths, fireplace, 1,358 square feet; annual taxes $1,017; monthly condo. fee $883 includes utilities, heat and air conditioning
Condominium Resale Package

At 1:45 P.M.
FRENCHMAN'S CREEK CONDOMINIUM
Hyattsville/New Carrollton, Prince George's County, MD 20784

Address Monthly Rent Description
5536 Karen Elaine Drive #1602 $1,210 Circa 1964, second floor garden apartment unit - 2 bedrooms, 1 bath, 933 square feet; annual taxes $953; monthly condo. fee $342, includes water, gas and heat; tenant pays electricity/central air conditioning

At 3:00 P.M.
NORMANDY PLACE CONDOMINIUM
Upper Marlboro, Prince George's County, MD 20772

Address Monthly Rent Description
13800 Farnsworth Lane #5107 $1,326 Circa 1998, first floor garden apartment unit - 2 bedrooms, 2 baths, 1,050 square feet; annual taxes $1,277; monthly condo. fee $381, includes water, gas and heat; tenant pays electricity/heat pump/central air conditioning
Condominium Resale Package

ADDITIONAL INFORMATION

LEASES
Please complete the Waiver and Confidentiality Agreement to view the leases.

TERMS OF SALE

    A $5,000 deposit on each unit, payable by 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 deposit or 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, condominium fees, rents, all other public charges and assessments payable on a monthly or 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 properties will be sold in "AS IS" condition, subject to easements, agreements, restrictions, leases or covenants of record affecting same, if any, and subject to the Declaration and Bylaws of the applicable condominium association.  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, as applicable to properties constructed prior to 1978.  Purchaser acknowledges prior receipt of the condominium resale packages and agrees to waive any right of rescission under the Maryland Condominium Act.  Security deposits, if applicable, shall be transferred to the buyer at settlement.  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.