"Highlandtown"

Featuring Live & Simulcast Online Bidding
$75,000 Opening Bid

HIGHLANDTOWN

DEVELOPMENT OPPORTUNITY
Currently 3 Garages and 5 Car Surface Parking

Approved Plans for:
3-Unit Apartment Building
Approx 4,000 Sq. Ft with Garage Parking

Sale On Premises:
3303 GOUGH STREET
Near S. Clinton Street
Baltimore City, MD 21224

Online Bidding Opens
MONDAY, MARCH 4, 2024

Live Onsite Auction Begins
THURSDAY, MARCH 7, 2024
AT 1:00 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:
3303 Gough Street is located in the Highlandtown neighborhood in Southeast Baltimore. Highlandtown is among Baltimore’s best known neighborhoods, having been a hub of community life in the southeastern portion of the City for more than 150 years. The neighborhood has been experiencing a renaissance over the past 20 years. New entertainment venues, restaurants and stores complement the familiar, long-standing businesses that have made the location home for decades. New and renovated apartment buildings are positioned throughout the neighborhood, along with countless home renovations and new construction. Proximity to some of the City’s largest employers, as well as convenient access to major highways and commuter routes, makes the location ideal for residents and consumers of all types.

The property is located in the heart of the neighborhood. The Creative Alliance, Southeastern Branch of the Enoch Pratt Free Library, Matthew’s Pizzeria and dozens of other noteworthy businesses are within a few blocks. Johns Hopkins East Baltimore and Johns Hopkins Bayview are each within 2 miles. Patterson Park is less than one-quarter mile west.

The auction provides an opportunity to purchase a property in a prime location with ample demand for both new housing and parking. The location and lot arrangement are well suited for ongoing use for parking, as well as further development for single or multi-family use.

For more information about the area, please visit:
Highlandtown – livebaltimore.com
A Tour of Highlandtown and Patterson Park – baltimore.org
City of Baltimore – www.baltimorecity.gov
CityView Map – cityview.baltimorecity.gov
Community Development Map – cels.baltimorehousing.org

SITE:
Lot size – 30′ x 75′, according to public tax records. Plat

The site is currently improved by 3 masonry garages, each arranged for one vehicle or storage. To the rear of the garages is a concrete slab oriented for 5 parking spaces (formerly also garages).

All public utilities

Zoned R-8 Residential

PLANS:
The property has received preliminary approval from DHCD and the Baltimore City Board of Municipal & Zoning Appeals for the construction of a 3-unit apartment building containing approximately 4,000 square feet of living area with garage parking. Current drawings provide for two 2-bedroom units and one 3-bedroom unit.

Please complete a Waiver and Confidentiality agreement to obtain copies of approvals, current drawings and BGE budget for moving overhead lines and pole.

TITLE:
In fee simple; sold free and clear of all liens.

TAXES:
Current annual real estate taxes are $3,077.44, based on a full value tax assessment of $130,400.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.

Live Auction Bidders – a $10,000 deposit, 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 (wire or cashier’s check).

Online Auction Bidders – a $10,000 or 10% deposit, whichever is greater, payable by cashier’s check or wire, will be required of the purchaser by 4:30 P.M. on the day of auction.

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, 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 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. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.

The sale is being conducted in collaboration with
SURE Group of Berkshire Hathaway Home Services Homesale Realty