Garrison Gardens 3600 Garrison Blvd Immeuble residentiel 24 lots 562 445 € (23 435 €/Lot) Baltimore, MD 21215

GUIDED TOUR TUESDAY, MAY 27TH STARTING PROMPTLY AT 2:00PM
List price to be opening bid at online only auction. Online Auction Only! Bidding begins Saturday, May 31st & ends Thursday, June 5, 2025 at 3:15PM.
Stabilization Opportunity! Lead free 24 unit apartment building in the Dorchester neighborhood of Baltimore City.
The building is currently master leased to a tenant who is not performing. Possession of the property will be the responsibility of the winning bidder.
The owner has gone through the court process and was awarded a warrant of restitution on 4/3/2025 with the court saying possession is to be delivered within 60 days. There is a copy of the lease and warrant of restitution in the document section of the website.
Unit Breakdown: (24 Total Units)
6 studios
6 One Bedroom Units
7 Two Bedrooms Units
5 Three Bedroom Units
Each unit has a newer gas furnace installed, no CAC. Each floor has a laundry room, there are washer/dryer hook ups. The gas water heaters are located in the basement of the building, there are several water heaters for the building. Each unit is separately metered for gas and electric.
Average rents in the area:
Studio - $900
1 Bedroom - $1,100
2 Bedroom - $1,450
3 Bedroom - 1,650
Potential Gross Monthly Income based on numbers above $30,400
Potential Gross Yearly Income based on numbers above $364,800
*Numbers will vary depending on condition of units*
**Interior photos provided by seller**
Diligence Package: A copy of the purchase and sale agreement, lead certificate, rental license, lease with assorted addenda are located in the documents section of the auctioneer's website, link below. In order to gain access, you must create a free account as well as accept a non disclosure agreement.
Auction Notes: Online Auction Only! Bidding begins Saturday, May 31st & ends Thursday, June 5, 2025 at 3:15PM.
Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.