"Wilhelm Park"

 REAL ESTATE AUCTION 

2 – BRICK TOWNHOMES
Comprising
4 Apartment Units

Sales On Premises
1051 & 1053 DESOTO ROAD
Off Wilkens Avenue
Baltimore, MD 21223

THURSDAY, JUNE 13, 2019
AT 11:00 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 the Wilhelm Park neighborhood of southwest Baltimore City. Surrounding neighborhoods include Morrell Park, Saint Agnes and Gwynns Falls. The townhomes are conveniently located within close proximity to I-95 and US Route 1, great for commuters. The properties are also within one half mile of Wilkens Avenue which hosts a variety of dining, retail and entertainment options. Notable nearby employers include Saint Agnes Hospital, Fells Point Wholesale Meats and the Horseshoe Casino Baltimore.

For additional information see:
https://livebaltimore.com/neighborhoods/

SITE:
Adjoining townhouse lots
1051 Desoto Road – 19’2″ x 122’6″
1053 Desoto Road – 29’10” x 122’6″
Zoned R-6 residential. Each approved for two dwelling units.
All public utilities

IMPROVEMENTS:
Two – adjoining 2-story covered porchfront brick townhomes, constructed in 1942, according to public tax records. Each townhome comprises two rental units. Each unit is believed to contain living room, dining room, kitchen, bedroom and bathroom.

RENTAL INFORMATION:
1051 Desoto Road: The 1st floor unit is rented for $800 per month. Tenant on month to month lease. The 2nd floor unit is vacant.
1053 Desoto Road: The 1st floor unit is rented for $700 per month. Tenant on month to month lease. The 2nd floor unit is vacant.

MDE lead certificates and leases are available to view. Please complete the Waiver and Confidentiality Agreement form.

TITLE:
1051 Desoto Road – In fee simple; sold free and clear of liens.
1053 Desoto Road – Subject to an annual $96 ground rent (payable in semi-annual installments on 2/17 and 8/17); sold free and clear of liens.

TAXES:
1051 – Published annual real estate taxes are $1,588.28, based on a full value assessment of $67,300.
1053 – Published annual real estate taxes are $1,762.92, based on a full value assessment of $74,700.

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

MANNER OF SALE:
Each property will be offered individually and the highest bids reserved. Then, both properties will be offered as an entirety. The sale will be made in the manner producing the greater amount.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $5,000 deposit on each property or $10,000 if sold as an entirety, payable by 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, 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, shall be adjusted at the time of settlement. 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 rights of the existing tenants. 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.