"Northwest Baltimore - Dorchester Neighborhood"

This Auction has been CANCELED.
Sold prior to the auction.

Featuring Live & Simulcast Online Bidding

GARDEN APARTMENT BUILDING
14 Units ✦ On-Site Parking ✦ 100% Occupied

Known As
4000 LIBERTY HEIGHTS AVENUE
Corner Carsdale Avenue
Baltimore City, MD 21207

– CANCELED –

Online Bidding Opens
MONDAY, MAY 10, 2021

Live Onsite Auction
WEDNESDAY, MAY 12, 2021
AT 11:00 A.M.

– Starting Bid: $750,000 –

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:
4000 Liberty Heights Avenue is located in the Dorchester neighborhood in northwest Baltimore City. The surrounding area is also generally referred to as Gwynn Oak, which extends along Liberty Heights Avenue and Liberty Road out into the County. The location is convenient for residents, with public transportation along Liberty Heights Avenue and the Rogers and West Cold Spring Metro Stations within approximately 1.5 miles. Liberty Heights Avenue provides good access out to the Baltimore Beltway (I-695) and the County, as well as into Downtown Baltimore. I-70 is easily reached via W. Forest Park Avenue. Shopping, dining and neighborhood services are located along Liberty Heights Avenue, Garrison Boulevard and further north along Northern Parkway. Major nearby employers include Social Security and Sinai Hospital.

For more information about the area, please visit:
Live Baltimore – livebaltimore.com
CityView Map – cityview.baltimorecity.gov

SITE:
Lot size – 125′ x 140′, comprising 17,500 square feet, or 0.402 acre, more or less

125′ front along Liberty Heights Avenue, 140′ front along Carsdale Avenue.

14± car asphalt paved parking lot. Accessible by rear 10′ wide alley. Additional street parking.

All public utilities

Plat

ZONING:
R-5 Residential – Approved for 14 dwelling units

For more information about Baltimore City Zoning, please visit:
Zoning – dhcd.baltimorecity.gov

Zoning Map

IMPROVEMENTS:
Three level brick garden apartment building – constructed in 1969 and containing 14,880 square feet of gross building area, according to public tax records. The building is arranged for 14 self-contained units on three levels, with a large laundry room and separate utility and storage area.

The unit mix consists of 2 – three bedroom and two bath units, 10 – two bedroom and bath units, and 2 – efficiency units. All 14 units are currently leased, with a total gross scheduled monthly income of $12,025, plus roughly $300 per month from the laundry facility (leased with a third party operator). Total annual gross scheduled income is $147,900 based on current occupancy.

The building features a new architectural shingle roof (2017), vinyl clad replacement windows (2017/2018), new interior and exterior doors (2017, not including sliding doors), ten of the units have new heat and air conditioning, common interior stairway and is registered lead free. MDE Lead Inspection Certificate

Unit finishes include laminate and ceramic tile floors, drywall and updated kitchens. Six of the units have granite counter tops and new cabinets installed over the past 4 years. Twelve of fourteen units have outdoor deck space. There are 15 gas and 15 electric meters.

ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the leases, registrations and additional financial information.

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

TAXES:
Published annual real estate taxes are $17,723.60, based on a full value assessment of $751,000.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $50,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of the onsite sale. The deposit shall be increased to 10% of the purchase price by 12:00 Noon, Thursday, May 13, 2021, by wire transfer or cashier’s check, at the Auctioneer’s office. If purchased by an online bidder, the full 10% deposit is payable by wire transfer or cashier’s check by 4:30 P.M. on the day of sale. 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, rent, 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 easements, agreements, the existing leases of the tenants in place, restrictions or covenants of record affecting same, if any. 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. 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. Time is of the essence.

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