List price to be opening bid at online auction. Auction to be held on the auctioneer's website/bidding platform. Bidding begins Saturday, April 5th & ends Thursday, April 11, 2024 at 2:00 pm. Exceptional opportunity to purchase a fully leased 19-Unit Apartment Complex in Easton. Recent improvements include: 11 units were recently renovated including new mini-split systems, kitchens, W/D hookups, appliances, Quartz counter-tops, bathrooms, lighting and freshly painted. Location: The town of Easton MD is the County Seat of Talbot County and is situated in the heart of the beautiful Eastern Shore. Easton has a rich colonial tradition, and 18th- and 19th-century architectural treasures define Easton's vivid history. Only a one-and-a-half-hour drive from both Baltimore and Washington DC or just a couple of hours from Philadelphia, make a day trip possible. Current Gross Monthly Scheduled Rent Of $26,690
Current Gross Annual Scheduled Rent Of $320,280. Unit Breakdown/Rent Roll: Apt 1, 1BR/1BA currently rented for $1,350/month. Apt 2, 2BR/1BA currently rented for $1,350/month. Apt 3, 2BR/1BA currently rented for $1,850/month. Apt 4, 2BR/1BA currently rented for $1,440/month. Apt 5, 2BR/1BA currently rented for $1,300/month. Apt 6, 1BR/1BA currently rented for $1,260/month. Apt 7, 1BR/1BA currently rented for $1,400/month. Apt 8, 1BR/1BA currently rented for $1,275/month. Apt 9, 2BR/1BA currently rented for $1,365/month. Apt 10, 1BR/1BA currently rented for $1,475/month. Apt 11, Studio, currently rented for $785/month. Apt 12, 1BR/1BA currently rented for $1,400/month. Cherry Street Townhouses: Apt 14, 2BR/1.5BA currently rented for $1,400/month. Apt 15, 2BR/1.5BA currently rented for $2,000/month. Apt 16, 2BR/1.5BA currently rented for $1,400/month. Apt 17, 2BR/1.5BA currently rented for $1,900/month. Apt 18, 2BR/1.5BA currently rented for $1,740/month. Apt 19, 2BR/1.5BA currently rented for $2,000/month. Select Annual Expenses: Taxes: $14,423, Insurance: $6,880
Oil: $7,900, Electricity: $2,770, Water and Sewer: $6,830, Management/Repairs: $5,200, Landscaping: $1,860. With a population of around 20,000 people, Easton is considered one of Maryland's top SMALL places to live. It is also considered the "big city" of Talbot County because of its sophistication and vibrancy. Easton is at the heart of the Shore's arts and culture scene, as it is home to a prestigious theater, fantastic dining options, renowned art galleries and impeccably curated museums.