Email: info@ajbillig.com
6500 Falls Road, Baltimore, MD 21209
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REAL ESTATE AUCTION
10 – RENTAL TOWNHOMES
ON ONE BLOCK
– $58,800/Year Gross Scheduled Income at 80% Occupancy –
Known As:
1604-1613
LEMMON STREET
Baltimore City, MD 21223
Sale On Premises
TUESDAY, NOVEMBER 5, 2019
AT 12:00 NOON
– Suggested Starting Bid: $10,000 Each –
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 the Union Square neighborhood in southwest Baltimore. The neighborhood is well known for its history, including well-known Baltimoreans such as H.L. Mencken. The centrally positioned Union Square Park is at the heart of the neighborhood, and is surrounded by a collection of architecturally impressive buildings. Surrounding neighborhoods include Hollins Market, Franklin Square and Mount Clare. Notable nearby employers and attractions include Bon Secours Hospital, B&O Railroad Museum, University of Maryland, Baltimore campus and BioPark, Carroll Park and Hollins Market. Downtown Baltimore is about one mile east, and I-95 is about 2 miles south.
For more information, please see:
https://livebaltimore.com/neighborhoods/
SITE:
| Property | Lot Size |
| 1604 Lemmon Street | 11’8″ x 51’6″ |
| 1605 Lemmon Street | 11’6″ x 47′ |
| 1606 Lemmon Street | 12′ x 51’6″ |
| 1607 Lemmon Street | 11’6″ x 47′ |
| 1608 Lemmon Street | 12′ x 51’6″ |
| 1609 Lemmon Street | 11′ x 47′ |
| 1610 Lemmon Street | 12′ x 51’6″ |
| 1611 Lemmon Street | 11′ x 47′ |
| 1612 Lemmon Street | 11’8″ x 51’6″ |
| 1613 Lemmon Street | 11′ x 47′ |
All public utilities
IMPROVEMENTS:
The properties are improved by two story brick townhomes – Constructed in 1880, and containing between 686 – 974 square feet plus basement, according to public tax records. Interior finishes and layouts vary. Each property has a lead certificate. Rents are as follows:
| Property | Monthly Rent | Annual Rent |
| 1604 Lemmon Street | Vacant (at the time of sale) Formerly rented for $700 |
$0 |
| 1605 Lemmon Street | $700 | $8,400 |
| 1606 Lemmon Street | $700 | $8,400 |
| 1607 Lemmon Street | Vacant (at the time of sale) Formerly rented for $650 |
$0 |
| 1608 Lemmon Street | $700 | $8,400 |
| 1609 Lemmon Street | $300 | $3,600 |
| 1610 Lemmon Street | $650 | $7,800 |
| 1611 Lemmon Street | $700 | $8,400 |
| 1612 Lemmon Street | $450 | $5,400 |
| 1613 Lemmon Street | $700 | $8,400 |
| Total | $4,900 | $58,800 |
ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the leases and MDE lead certificates.
TAXES:
Current annual real estate taxes are:
| Property | Annual Tax | Assessment |
| 1604 Lemmon Street | $1,349.92 | $57,200 |
| 1605 Lemmon Street | $1,321.60 | $56,000 |
| 1606 Lemmon Street | $1,319.24 | $55,900 |
| 1607 Lemmon Street | $1,564.68 | $66,300 |
| 1608 Lemmon Street | $1,319.24 | $55,900 |
| 1609 Lemmon Street | $1,293.28 | $54,800 |
| 1610 Lemmon Street | $1,319.24 | $55,900 |
| 1611 Lemmon Street | $1,321.60 | $56,000 |
| 1612 Lemmon Street | $2,008.36 | $85,100 |
| 1613 Lemmon Street | $1,321.60 | $56,000 |
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:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx
TITLE:
| Property | Ground Rent (Annual) or Fee Simple |
| 1604 Lemmon Street | Fee Simple |
| 1605 Lemmon Street | $25 Ground Rent Due in semi-annual installments on 5/1 & 11/1 |
| 1606 Lemmon Street | Fee Simple |
| 1607 Lemmon Street | $24 Ground Rent – Unregistered Due in semi-annual installments on 1/1 & 7/1 |
| 1608 Lemmon Street | Fee Simple |
| 1609 Lemmon Street | $0.01 Ground Rent – Unregistered Due on demand |
| 1610 Lemmon Street | Fee Simple |
| 1611 Lemmon Street |
$49 Ground Rent – Unregistered $18 Sub Ground Rent – Unregistered |
| 1612 Lemmon Street | $48 Ground Rent Due in semi-annual installments on 2/15 & 8/15 |
| 1613 Lemmon Street | $48 Ground Rent Due in semi-annual installments on 2/15 & 8/15 |
The properties will be sold free and clear of all liens
MANNER OF SALE:
The properties will be offered separately and as an entirety, and sold in the manner producing the greatest result.
TERMS OF SALE:
A $2,500 deposit, on each property, payable by certified check or 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 within 24 hours 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, ground rent, 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. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the lease of the tenant in place. 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.
No Buyer’s Premium!
