"Harbor East Area"

ABSOLUTE AUCTION TO THE
HIGHEST BIDDER ABOVE $10,000

HARBOR EAST AREA

“Washington Hill”

UNIMPROVED LOT
✦0.018 ± ACRE ✦ I-MU ZONING✦

Known As:
117 S. CENTRAL AVENUE
Near E. Lombard Street
Baltimore City, Maryland, 21202

BIDDING OPENS:
MONDAY, APRIL 29, 2024

BIDDING CLOSES:
TUESDAY, APRIL 30, 2024 AT 12:00 P.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:
117 S. Central Avenue is located in the Washington Hill neighborhood of downtown Baltimore. The area has seen a tremendous amount of investment in recent years. Harbor East is less than a half mile south and is home to many large businesses, hotels and boutique shops. Development for the area is coming northbound on Central Avenue. The Central Avenue Streetscape and Bridge Project is a two phase redevelopment project aimed at updating the roads and sidewalks to make the area more pedestrian and bike friendly while improving driving conditions. After several years, the project is nearing completion. Also nearby is the large billion dollar development of the former Perkins Homes. The 12 block redevelopment of the former public housing project will make room for 1,346 new affordable and mixed income units and 500 market rate units. The abundance of development is creating stability in the area. Purchasing at auction provides an opportunity for investors to get in on the ground floor in an area thriving with investment.

For more information about the area, please visit:
Live Baltimore – livebaltimore.com
City of Baltimore – www.baltimorecity.gov
Central Ave Project – centralaveproject.com
Perkins Homes – www.hcm2.com

SITE:
Rectangular Lot: 12′ x 65′, according to public tax records. Plat

All public utilities

ZONING:
Zoned I-MU-1 – Industrial Mixed-Use 1

The I-MU zoning designation is a flexible zoning category allowing for a variety of uses. According to the Transform Zoning legend, Industrial Mixed Use Zoning is “Primarily for existing industrial buildings and permits both light industrial uses and a variety of nonindustrial uses, such as dwellings, commercial, creating a mixed-use environment.”

A full list of permitted and conditional uses, in addition to zoning specifics, can be found via the Baltimore City Department of Planning Website – planning.baltimorecity.gov

TITLE:
In fee simple; and sold free and clear of liens. Baltimore City Deed Book FMC Liber 14277, folio 47.

TAXES:
Published annual real estate taxes are $1,925.76 based on a full value assessment of $81,600.

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: Assessment Appeal Process – dat.maryland.gov

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $3,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by April 30, 2024 at 4 P.M. 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. 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 and 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. The Property will be sold subject to Baltimore City violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. 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. A 5% or $2,500 buyer’s premium, whichever is greater, will be added to the final bid price.