"Mondawmin"

ONLINE REAL ESTATE AUCTION

TWO STORY
TOWNHOME

Known As:
2228 WALBROOK AVENUE
Baltimore City, MD 21216

BIDDING OPENS:
FRIDAY, MARCH 19, 2021

BIDDING CLOSES:
MONDAY, MARCH 22, 2021 at 11:00 AM

– Starting Bid: $5,000 –

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:
2228 Walbrook Avenue is located in the Mondawmin neighborhood in west Baltimore City. Surrounding neighborhoods include Panway/Braddish, Penn North, Coppin Heights and Walbrook. The property is located near North Avenue, which features dining, retail and entertainment options. Commuters can also take advantage of North Avenue for east/west travel and I-83 (2 miles) for north/south travel. Druid Hill Park is within half a mile of the property and boasts a lake, disc golf course, trails and the Maryland Zoo in Baltimore. Major employers in the area include Coppin State University (0.5 mile), the shops at Mondawmin Mall (0.8 mile) and Baltimore City Community College (1.5 miles).

For more information, please see:
Neighborhoods – livebaltimore.com

SITE:
Lot – 15′ x 108′, more or less. Plat

All public utilities

ZONING:
R-7 Residential. According to the zoning webpages, R-7 zoning comprises “mixed residential zoning including detached and semi-detached dwellings, rowhouse developments, and multi-family developments of a larger scale.

The property falls into a federal opportunity zone that “are designed to spur economic development and job creation in distress.” According to the Baltimore Development website, “The program provides a federal tax incentive for investors, who invest in real estate projects and operating businesses located in designated low-income communities through deferral and partial tax reductions of reinvested capital gains, and forgiveness of tax on new capital gains.”

Opportunity Zones – baltimoredevelopment.com

Opportunity Zones Frequently Asked Questions – www.irs.gov

IMPROVEMENTS:
Two story inside group townhome. According to public tax records, the house was constructed in 1920 and contains living room, dining room and kitchen, on first floor; 3 bedrooms and bathroom, on second floor; unfinished basement.

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

TAXES:
Published annual real estate taxes are $339.84, based on a full value assessment of $14,400.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A 10% deposit, payable by cashier’s check or wire payment, will be required of the purchaser by 4:30 p.m. on Monday, March 22, 2021, 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. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, 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 contract and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of contract forward. 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.