"Towson"

Live Auction Bidders – a $40,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price by 11 A.M. on the next business day.

Online Auction Bidders – A $40,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. If necessitated by price, the deposit shall be increased to 10% of the purchase price by cashier’s check or wire transfer by 11:00 A.M. on the next business day.
Deposit Escrow Agreement

A 6% buyer’s premium will be added to the final bid price. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and please see the Sample Contract.

Featuring Live & Simulcast Online Bidding
$300,000 Opening Bid

TOWSON

FULLY RENOVATED TWO UNIT BUILDING
12+ Car Parking ● Zoned ROA ● 100% Occupied

Sale On Premises:
405 CENTRAL AVENUE
a/k/a 405 W. CENTRAL AVENUE
Between W. Chesapeake and W. Pennsylvania Avenues
Towson, Maryland 21204

Online Bidding Opens
WEDNESDAY, MAY 20, 2026

Live Onsite Auction Begins
THURSDAY, MAY 21, 2026
AT 12:00 NOON

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

GENERAL INFORMATION:
Owner sale of a recently renovated building arranged for two dwelling units in the heart of Towson. Both units are leased to students for a total of $4,800/month. Surface parking at the rear of the property provides additional income potential for monthly space rentals. The property is ideally positioned in short proximity to major employers, including Baltimore County Government offices, Towson University and an array of shopping, dining and entertainment options. The auction provides an opportunity to purchase a cash flow asset with residential/office zoning and ample parking in an exceedingly well-demanded Baltimore County location.

LOCATION:
The property is located on Central Avenue, between W. Pennsylvania and W. Chesapeake Avenues, in the heart of Towson. Towson is the Baltimore County Seat, home to Baltimore County Government offices and major courthouses. Towson University’s sprawling campus, another major employer in the area, is located approximately one-quarter mile south. The center of Towson, just a few blocks east, is home to a wide variety of restaurants, retail shopping, movie theater, music venues and other entertainment options. The immediately surrounding area is comprised of single family homes, professional offices, religious and educational facilities.

For more information about the area, please visit:
Baltimore County Government – www.baltimorecountymd.gov

SITE:
Lot size – 0.21 acre, more or less, according to public tax records

60′ front on Central Avenue with depths of 150′

Curb cut (from 10′ public alley). Macadam paved parking area for 12 vehicles with potential for additional spaces.

All public utilities. Single gas and single electric meters.

GIS Map

ZONING:
ROA – Residential Office, Class A

For more information about Baltimore County zoning, please visit:
Zoning Review – www.baltimorecountymd.gov

IMPROVEMENTS:
Two and one-half story free-standing building – constructed in 1923, fully renovated in 2024, containing 2,847 square feet above grade and 924 square feet of basement space. The building was originally constructed as a home, subsequently converted to office use and most recently updated to two apartment units. Finishes include new LVP flooring, quartz countertops, ceramic tile back splashes and two zone HVAC. The two units are rented to students for a total of $4,800/month, $57,600 annually. BGE and municipal water bills are prorated among the tenants (40% first floor unit and 60% second/third floor unit).

The first floor unit is arranged for a living room (fireplace), updated kitchen, three bedrooms and full bath. Currently rented for $2,300/month.

The second and third floor unit is arranged for an open living room, dining room and kitchen, four bedrooms and full bath. Currently rented for $2,500/month.

Unfinished basement with storage and mechanical areas. Gas forced air heat, central air conditioning, 200 amp electrical service, 73 gallon water heater.

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality Agreement to view the leases and additional documents.

TITLE:
In fee simple; sold free and clear of all liens.

TAXES:
Current annual real estate taxes are $6,731.85 based on a total full value tax assessment of $456,900.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.

Live Auction Bidders – a $40,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price by 11 A.M. on the next business day.

Online Auction Bidders – A $40,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. If necessitated by price, the deposit shall be increased to 10% of the purchase price by cashier’s check or wire transfer by 11:00 A.M. on the next business day.
Deposit Escrow Agreement

Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. All adjustments, including taxes, rents, ground rent, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of settlement and assumed thereafter by the purchaser. Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore County violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. The Purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. If the Seller is unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser. Time is of the essence. A 6% buyer’s premium will be added to the final bid price.