"N.E. Baltimore - Waltherson"

Estate Sale

Featuring Live & Online Simulcast Bidding
$150,000 Opening Bid

“Waltherson”

APARTMENT BUILDING
4 – Self-Contained Units ◆ 100% Occupied

Known As
4008 SOUTHERN AVENUE
Baltimore, MD 21206

Online Bidding Opens
MONDAY, JANUARY 31, 2022

Live Onsite Auction
WEDNESDAY, FEBRUARY 2, 2022
AT 2:00 P.M.
Property Viewing at 1:00 P.M.

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.

LOCATION:
4008 Southern Avenue is located in the Waltherson neighborhood of northeast Baltimore, west of Belair Road, east of Harford Road, north of Herring Run Park and south of Hamilton Avenue. Neighborhood homes are predominantly well-maintained single and multi-family detached and semi-detached homes, of varying ages and styles. Public transportation, shopping, restaurants, schools and community services are within walking distance.

SITE:
Rectangular lot 50′ x 142′. Plat
Zoning R-3, residential, 4 dwelling units
Public utilities
Concrete driveway with off-street parking for 2 cars
Fenced rear yard

IMPROVEMENTS:
Two and One-Half Story Shingle Cottage, built in 1915, containing 2,777 square feet of living area and 1,129 square feet of basement space, according to public tax records. The home has a covered front porch, double-hung windows and composition shingle roof.

The building contains 4 one-bedroom apartment units, each with separate electric meter and electric baseboard heat.

OCCUPANCY:
Three units are rented for $750/month, one for $650/month. All tenants are month-to-month.

ADDITIONAL INFORMATION:
Please complete the confidentiality waiver to receive copies of the leases, lead registration and income and expense information.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Book FMC 16305, Page 463.

Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information: Assessment Appeal Process – dat.maryland.gov

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

Onsite Bidders – A $25,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. If necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office.

Online Bidders – A 10% deposit, payable by cashier’s check or wire transfer, is required of the purchaser by 4:00 p.m. on the day of sale, at the Auctioneer’s office.

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, 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, will be transferred at settlement. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, as well at the rights of the tenants in possession. Purchaser assumes the risk of loss from the date of contract forward. 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 except where otherwise mandated by local, State or Federal law. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.

Estate of George F. Marmaras, et al.