16-18 E PRESTON St

List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Thursday, April 3rd and ends Tuesday, April 8, 2025 at 2:00PM. Fully Leased 7 Unit Apartment Building in the "Mount Vernon" Neighborhood of Baltimore City with 3 Car Garage. Approximately 6,612+/- sq. ft. of above grade living space. Current gross monthly scheduled rent of $13,086. Current gross annual scheduled rent of $157,032. Unit 16 - 3 Bedroom/3 Bath Rented for $2,399 + $90 Utility Reimbursement. Unit 18/1 - 1 Bedroom/1 Bath Rented for $1,299 + $30 Utility Reimbursement . Unit 18/2 - 1 Bedroom/1 Bath Rented for $1,549 + $30 Utility Reimbursement. Unit 18/3 - 1 Bedroom/1.5 Bath Rented for $1,649 + $30 Utility Reimbursement, $35 Pet Rent & $169 Parking Fee. Unit 18/4 - 2 Bedroom/2 Bath Rented for $1,849 + $60 Utility Reimbursement & $140 Pet Rent
Unit 18/5 - 2 Bedroom/2 Bath Rented for $1,899 + $60 Utility Reimbursement & $169 Parking Fee
Unit 18/6 - 1 Bedroom/1.5 Bath Rented for $1,599 + $30 Utility Reimbursement. Utilities: The units are individually metered for gas and electric. Key Items: - All units are central split gas furnace and condenser. All units replaced by prior ownership and current owner has replaced 1 gas furnace. It is likely the other furnaces and some a/c units are still under warranty. - Individual water heaters replaced as needed.
- Roof for 16 replaced in 2021 and 18 replaced in 2020 - All units has W/D. Expenses Property Taxes July 1, 2025-June 30, 2026: $12,116. Special Benefit District Surcharge July 1, 2025-June 30, 2026: $678
Water Per Historical Figures: $8,100. Electric/Gas Per Historical Figures: $984. Licenses Est. $50/Unit, total of approximately $350. TOTAL EXPENSES $22,228+/-. 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!