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$2,662,000
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Property Description
List price to be opening bid. Online auction to be conducted on Auctioneers website. Bidding begins Saturday, March 23 & ends Thursday, March 28, 2024 at 1:00 pm. Multi-Family Apartment Complex in Historic "Mount Vernon" with Single Tenant Double Net Lease Structure. The building is configured for 20 total apartments but is currently leased by a recovery center who pays the entirety of the rent. The buildings are distinguished by their original architectural details, which include wood floors, plaster walls, wainscoting, millwork, fireplace mantles, and high ceilings. **Current Gross Monthly Scheduled Rent of $26,000** **Current Annual Gross Scheduled Rent of $312,000** 14 E. Maidson contains approximately 6,486SF of gross building area and has 11 units. 16 E. Madison contains contains approximately 6,642SF of gross building area and has 9 units. An annual 3% increase shall apply after the first 12 month period. The lease is a double net structure. 16 E. Madison Street has two rear parking spaces.
Full Property Details
Full Property Details for 1416 E Madison St
General
- Sold For: $2,662,000
- Taxes: $13,863 (2023)
- Status: Closed
- Type: Apartment
- Source: BrightMLSMidAtlantic
- MLS ID: MDBA2116172
- Added to Site: 723 day(s) ago
Business
- Business Type: Other, Apartment Building
Parking
- Total Spaces: 2
- Parking Type: On Street, Other
Location
- Municipality: Baltimore City
- County: Baltimore City
- Driving Directions: N Central Ave to E Madison St
- City Limits: Yes
Heating & Cooling
- Cooling Type: Other
- Cooling Fuel: Electric
- Heating Type: Other
- Heating Fuel: Other
- Water Heater: Other
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Brick, Other
- Stories/Levels: 0
- Year Built: 1930
- Year Built Source: Estimated
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Size (Acres): 0.07
- Lot Size (Sq. Ft.): 2,889
- Lot Size Source: Assessor
- Zoning: OR-2
Financial Considerations
- Price Per Sq. Ft.: $114.26
- Assessment Year: 2023
- City/TownTax: $13,205
- City/TownTax Freq: Annually
- County Tax: $658
- County Tax Freq: Annually
- Tax w/Assessment: $587,400
- Tax Amount: $13,863
- Tax Year: 2023
Disclosures and Reports
- Ownership: Fee Simple
- Lot Number: 13
Listed and Sold by Alex Cooper Auctioneers, Inc., Matthew S Cooper
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Schools
Schools serving 1416 E Madison St
School District:Baltimore City Public Schools
| Name | Grades | Distance |
|---|---|---|
Dr. Bernard Harris Sr. Elementary School 1400 North Caroline Street, Baltimore, MD 21213 | PK-5 | 0.5 mi |
National Academy Foundation 540 North Caroline Street, Baltimore, MD 21205 | 6-12 | 0.2 mi |
Baltimore Design School 1500 Barclay Street, Baltimore, MD 21202 | 6-10 | 0.9 mi |
Baltimore Leadership School For Young Women 128 West Franklin Street, Baltimore, MD 21201 | 6-12 | 1.1 mi |
Paul Laurence Dunbar High School 1400 Orleans Street, Baltimore, MD 21231 | 9-12 | 0.3 mi |
Baltimore School For The Arts 712 Cathedral Street, Baltimore, MD 21201 | 9-12 | 1 mi |
The Reach! Partnership School 2555 Harford Road, Baltimore, MD 21218 | 8-12 | 1.3 mi |
The Crossroads School 802 South Caroline Street, Baltimore, MD 21231 | 6-8 | 1.2 mi |
Stadium School 1400 Exeter Hall Avenue, Baltimore, MD 21218 | 6-8 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1416 E Madison St
Date
Details
Price
Change
Source
8/30/2024
Sold
$2,662,000
77.47%
MLS
2/29/2024
Listed
$1,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
14-16 E Madison Street, Baltimore, MD 21202 (MLS# MDBA2116172) is a Apartment property that was sold at $2,662,000 on August 30, 2024. Want to learn more about 14-16 E Madison Street? Do you have questions about finding other Apartment real estate for sale in Gay Street? You can browse all Gay Street real estate or contact a Coldwell Banker agent to request more information.

