List price to be opening bid at online only auction. Auction to take place to the Auctioneer's website. Bidding begins Saturday, April 6th & ends Thursday, April 11, 2024 at 12:00 pm. Exceptional opportunity to purchase a 12-Unit Apartment Complex comprised of 3 adjacent buildings. 11 out of 12 units are currently rented. Location: Chestertown is in Kent County; the apartment complex is conveniently located just a few blocks over the Chester River Bridge (Rte 213). The property has a convenient location near dining, shopping, schools, recreational facilities, and access to transportation routes. The building is located blocks away from Washington College, the University of MD Medical Center and the Downtown Historic District. **Current Gross Monthly Scheduled Rent of $14,044** **Current Annual Gross Scheduled Rent of $168,528** Each Unit is a 1 bedroom, 1 bath single level apartment. Rent Roll: 321 Calvert St rented for $1050/month. 323 Calvert St rented for $920/month. 325 Calvert St rented for $1150/month. 327 Calvert St rented for $1300/month. 329 Calvert St rented for $900/month.
331 Calvert St currently vacant. 333 Calvert St rented for $1180/month. 335 Calvert St rented for $1299/month. 337 Calvert St rented for $1445/month. 339 Calvert St rented for $1400/month. 341 Calvert St rented for $1200/month. 343 Calvert St rented for $1200/month. Annual expenses are approximate: $4,200 for insurance, $4,000 for water/sewer, $1,200 for lawn care, $2,500 for maintenance
$1,600 for Gas/electric.