Email: info@ajbillig.com
6500 Falls Road, Baltimore, MD 21209
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GALLERY AUCTION
15 BALTIMORE CITY PROPERTIES
11 RENTAL TOWNHOMES
$10,895 Scheduled Monthly Rent
At 100% Occupancy
&
4 ASSISTED LIVING FACILITIES
$5,450 Scheduled Monthly Rent
At 100% Occupancy
|
Sales To Be Held: TUESDAY, NOVEMBER 13, 2018 |
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.
GENERAL INFORMATION:
The sale consists of 15 residential properties located throughout northwest, west and southwest Baltimore City. The properties have substantial existing and potential cash flow. Currently all of the properties are occupied, with $16,345 per month in scheduled income. At full occupancy, the assets can generate over $200,000 per year in gross income. The auction represents an excellent opportunity to buy one or more multiple properties with long rental histories, excellent income and the potential for long term growth.
Buyers will be required to have a $2,500 cashier’s check for EACH PROPERTY they intend to purchase. Summary terms of sale are below, and a draft contract of sale will be made available for review prior to auction. Open houses for the properties may be scheduled the week prior to auction based on demand. Please email info@ajbillig.com or call 410.296.8440 if you would like to be notified about property access.
RENTAL TOWNHOMES:
The first portion of the auction features 11 rental townhomes, which are occupied. Scheduled monthly rentals total $10,895, or $130,740 annually. Units have MDE lead certificates. Many of the tenants have resided in the properties for multiple years. Copies of lead certificates and leases are available to view by completing a non-disclosure/confidentiality form: Waiver and Confidentiality Agreement. The properties will be offered individually only.
|
Address |
Lot Size |
Description |
Rental Information |
|---|
|
Sold: $37,800 2510 DRUID PARK DRIVE Off Greenspring Avenue “Park Circle” 21215 |
18’4″ x 80′ In fee simple |
Two story brick porchfront townhome arranged for 6 rooms (3BR), bath and basement. Forced air heat. CAC. Long term tenant. |
$1,050/month $354.00 |
|
Sold: $26,250 4011 W. GARRISON AVENUE Off Reisterstown Road “Langston Hughes” 21215 |
17’6″ x 100′ $104 annual ground rent (unregistered) |
Two story brick enclosed porchfront townhome arranged for 6 rooms (3BR), bath and basement. Forced air heat. |
$950/month $401.20 |
|
Sold: $26,250 3504 LUCILLE AVENUE Off Reisterstown Road “Central Park Heights” 21215 |
18’4″ x 95′ $240 annual ground rent |
Two story brick enclosed porchfront townhome arranged for 6 rooms (3BR), bath and basement. Forced air heat. Hardwood floors. |
$925/month $354.00 |
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Sold: $36,750 2808 NORFOLK AVENUE Off Towanda Avenue, near Reisterstown Road “Park Circle” 21215 |
21’8″ x 92’6″ In fee simple |
Large two and one-half story brick townhome arranged for 8 rooms (4BR and bonus room), 1.5 baths and finished basement. Hot water boiler. Hardwood floors. |
$1,200/month $984.90 |
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Sold: $37,800 5046 PEMBRIDGE AVENUE Corner Spaulding Avenue “Central Park Heights” 21215 |
18’4″ x 85′ In fee simple |
Two story stone and stucco end townhome arranged for 6 rooms (3BR), bath and basement. Updated hot water boiler. Hardwood floors. Long term tenant. |
$1,000/month $802.40 |
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Sold: $31,500 4205 PIMLICO ROAD Off Quantico Avenue “Greenspring” 21215 |
19’9″ x 111’8″ In fee simple |
Two story brick townhome with siding façade. Arranged for 6 rooms (3BR), bath and basement. Forced air heat. CAC. Hardwood floors. |
$995/month $637.20 |
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Sold: $30,450 4532 PIMLICO ROAD Near Sumter Avenue “Central Park Heights” 21215 |
18’3″ x 110′ In fee simple |
Two story brick porchfront townhome arranged for 6 rooms (3BR), bath and basement. Forced air heat. Hardwood floors. |
$975/month $354.00 |
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Sold: $31,500 4534 PIMLICO ROAD Near Sumter Avenue “Central Park Heights” 21215 |
18’3″ x 110′ $90 annual ground rent (unregistered) |
Two story brick porchfront townhome arranged for 6 rooms (3BR), bath and basement. Forced air heat. Hardwood floors. |
$975/month $354.00 |
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Sold: $35,700 4618 PIMLICO ROAD Near Dupont Avenue “Central Park Heights” 21215 |
17′ x 110′ $84 annual ground rent |
Two story brick porchfront townhome arranged for 6 rooms (3BR), bath and basement. Forced air heat. Hardwood floors. Long term tenant. |
$950/month $354.00 |
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Sold: $43,050 2440 SHIRLEY AVENUE Off Pall Mall Road “Greenspring” 21215 |
17’9″ x 76’10” In fee simple |
Two story brick townhome arranged for 6 rooms (3BR), 1.5 baths and basement. Hot water boiler. Hardwood floors. Long term tenant. |
$1,050/month $637.20 |
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Sold: $33,600 4706 WILERN AVENUE Off Manchester Avenue “Central Park Heights” 21215 |
18′ x 85′ $96 annual ground rent (unregistered) |
Two story stone and stucco townhome with enclosed porch arranged for 6 rooms (3BR), bath and basement. Hardwood floors. Hot water boiler. |
$825/month $70.80 |
ASSISTED LIVING LICENSED RENTAL HOMES:
The second portion of the auction features 4 licensed assisted living facilities. The facilities are all occupied and operated by the tenant, a longtime assisted living operator. Scheduled monthly rentals total $5,450, or $65,400 annually. Tenant pays water. Copies of leases are available prior to the auction by completing a non-disclosure/confidentiality form: Waiver and Confidentiality Agreement. The properties will be offered individually and as an entirety, and sold in the manner producing the greater result.
Sold As An Entirety: $231,000
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Address |
Lot Size |
Description |
Rental Information |
|---|
|
1628 MORELAND AVENUE Off Baker Street “Coppin Heights” 21216 |
14′ x 110’8″ $96 annual ground rent |
Two story brick porchfront townhome arranged for 7 rooms (4BR), 1.5 baths and basement. Licensed for 8 clients. Forced air heat (90%+ efficiency). |
$1,300/month $495.60 |
|
1107 POPLAR GROVE STREET Near Riggs Avenue “Winchester” 21216 |
15′ x 110′ $120 annual ground rent |
Two story brick porchfront townhome arranged for 7 rooms (4BR), 1.5 baths and basement. Licensed for 7 clients. Forced air heat. |
$1,300/month $708.00 |
|
5028 QUEENSBERRY AVENUE Off W. Garrison Avenue “Central Park Heights” 21215 |
21’8″ x 90′ In fee simple |
Two story brick porchfront townhome arranged for 8 rooms (5BR), 1.5 baths and basement. Licensed for 8 clients. Forced air heat. |
$1,425/month $590.00 |
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3027 WYLIE AVENUE Off Pimlico Road “Parklane” 21215 |
23′ x 101’9″
|
Two story brick porchfront townhome arranged for 8 rooms (5BR), 1.5 baths and basement. Licensed for 8 clients. Gas boiler. |
$1,425/month $802.40 |
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms – A $2,500 DEPOSIT ON EACH PROPERTY, 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. The properties will be sold in “AS IS” condition, and subject to easements, agreements, 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. 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.
