"Harlem Park"

– $20,000 Suggested Opening Bids –

2 – APARTMENT BUILDINGS
Each Contains 2 Self-Contained Units

Sale On Premises
907 & 909 HARLEM AVENUE
Off Fremont Avenue ◆ Baltimore, MD 21217

NEW AUCTION DATE:
THURSDAY, MARCH 23, 2017
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:
907 & 909 Harlem Avenue are located in the “Harlem Park” neighborhood on the west side of Downtown Baltimore. Neighborhood housing is comprised of brick townhomes, constructed around several community parks. Numerous houses have been renovated, containing one to four units. Area properties are owner and tenant occupied.

For additional information see Live Baltimore’s web page:
https://livebaltimore.com/neighborhoods/harlem-park

SITE:
Each home is situated on a rectangular lot 14.5′ x 82.5′
Zoning – R8, each last registered for two apartment units
All public utilities

IMPROVEMENTS:
Each property is improved by a three story brick inside-group townhome, believed to contain one two-bedroom apartment and one three-bedroom apartment, separate gas furnace, air conditioning and utility meters for each unit. The units were completely renovated in 2008 by St. Pius V Housing Committee, LLC. The properties are currently vacant.

TITLE:
907 Harlem Avenue is in fee simple. 909 Harlem Avenue is subject to an annual $75 ground rent, payable semi-annually on May 15 and November 15, in each and every year.

TAXES:
Published annual real estate taxes are $944 for each building, based on a full value assessment of $40,000. 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

MANNER OF SALE:
To be announced on premises.

TERMS OF SALE:
A $2,500 deposit on each building or $5,000 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. 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. All adjustments, including taxes, 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 contract 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. 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.