INVESTOR ALERT. IMMEDIATE VALUE-ADD POTENTIAL for rare 4-unit in Annapolis. The building is a converted schoolhouse that contains four-two bedroom units. All units are occupied and are on month-to-month leases. The net operating income is approximately $46,434.00. All units are metered separately (plus a common space meter) and have central A/C. Units were updated in 2013 (floors, paint, appliances, and a few with new cabinets). The driveway was asphalted and central A/Cs were installed in 2019. Tenants are responsible for their one electricity and their cable/internet. Owner pays for the common space electric, dumpster, water, septic maintenance, lawn service, and pest control quarterly contract. Have never had issues renting - historically a low vacancy rate for this property. The building sits on 1.9 acres and there MAY BE potential to subdivide the property to create a buildable lot in the rear/side of the property (agent/owner make no representations or promises with respect to the buildable lot; buyer to do their own due diligence). Property is being sold as-is. Tenants would like to stay.
OPEN HOUSE STYLE SHOWINGS: Wednesdays and Sundays. This will help make it easy to get into each property and it's less of an inconvenience to the tenants. Contact the agent for more details for showings.
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Active Under Contract
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2 weeks ago
Listing updated with changes from the MLS
a month ago
Status changed to Active Under Contract
a month ago
Listing first seen online
Converted DwellingDwelling with RentalOther
Private Septic Tank
Cable TV AvailableElectric AvailableWater Available