"Sandtown - Winchester"

ONLINE REAL ESTATE AUCTION

THREE MULTI-UNIT BUILDINGS

– SEPARATE AND ENTIRETY OFFERINGS –

Known As
1700-1704 N. FULTON AVENUE
Corner Presbury Street
Baltimore City, MD 21217

BIDDING OPENS:
WEDNESDAY, MAY 19, 2021

BIDDING CLOSES:
FRIDAY, MAY 21, 2021 AT 11:05 A.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:
The properties are located in West Baltimore in the Sandtown-Winchester neighborhood, generally referred to as Sandtown. Surrounding neighborhoods include Harlem Park, Upton, Druid Heights, Penn North and Easterwood. Sandtown is located along US-40, providing good access to the Metro (Penn North and Upton Stations within 1 mile), West Baltimore MARC station (1.1 miles southwest), Downtown (2.5 miles east), and the Baltimore Beltway (I-695, 5.7 miles west). Sandtown, and the surrounding neighborhoods, have been the subject of a number of revitalization efforts over the past few decades, including those featured in recent Baltimore Sun articles linked below. The CityView website shows the property as being located within the Old West Baltimore Historic District, and as being historic tax credit eligible.

For more information about the area, please visit:

Sandtown-Winchester – livebaltimore.com

CityView – cityview.baltimorecity.gov

Baltimore Sun Article regarding Upton – www.baltimoresun.com

Baltimore Sun Article regarding Acme Business Complex – www.baltimoresun.com

PROPERTY DESCRIPTIONS:

1700 N. Fulton Avenue – Three story end-of-group storefront building arranged for storefront and two shell apartment units. The storefront is currently rented for $1,200/month on a five year lease. The tenant has placed a security deposit, and will begin monthly payments when the space is ready to move-in. The upper units need renovation. Formerly had 6 electric meters.

• Lot size: 15′ x 85′, more or less. Plat
• Zoned R-7 – 2 dwelling units
• Annual tax: $401.20 based on a full value assessment of $17,000
• Subject to a $120 annual ground rent (due in semi-annual installments on 4/1 & 10/1)
• Starting bid: $25,000

1702 N. Fulton Avenue – Three story inside-group brick townhome arranged for 3 one-bedroom apartment units. The units need full renovation.

• Lot size: 14’4″ x 85′, more or less. Plat
• Zoned R-7 – 3 dwelling units
• Annual tax: $0 according to the Baltimore City tax database.
• Subject to a $120 annual ground rent (due in semi-annual installments on 4/1 & 10/1)
• Starting bid: $5,000

1704 N. Fulton Avenue – Three story inside-group brick townhome arranged for 3 one-bedroom apartment units. The units need full renovation. Formerly had 4 electric meters.

• Lot size: 14’4″ x 85′, more or less. Plat
• Zoned R-7 – 3 dwelling units
• Annual tax: $369.74 based on a full value assessment of $15,667
• Fee simple
• Starting bid: $5,000

Entirety Offering – All three properties as listed above. Starting bid: $35,000.

ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the lease for 1700 N. Fulton Avenue.

MANNER OF SALE:
The properties will be offered both individually and as an entirety and sold in the manner producing the greatest result, at seller discretion.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
Ten percent (10%) of the Purchase Price, in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by Friday, May 21, 2021 at 4:30 P.M. 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 for 1702 and 1704 N. Fulton Avenue. 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 for 1700 N. Fulton Avenue (and if sold as an entirety), and date of contract for 1702 and 1704 N. Fulton Avenue, 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 City 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. 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. A 5% Buyer’s Premium will be added to the final bid price.