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REAL ESTATE AUCTION
– $200,000 Suggested Opening Bid –
Circa 1922, Brick & Stone
Sale On Premises
400 E. 31ST STREET
Corner Barclay Street, Baltimore, MD 21218
THURSDAY, JUNE 22, 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.
400 E. 31st Street is located in the “Abell” neighborhood of northern Baltimore City, aptly described by LiveBaltimore.com as:
“Named in honor of Baltimore Sun founder A.S. Abell and the avenue that bears his name, the Abell Community comprises nine square blocks in the heart of Baltimore city. Known for its vibrantly-colored ‘Painted Lady’ rowhouses, the community is almost entirely residential. Tree-lined streets, historic architecture, and an active, close-knit community make Abell one of Charm City’s most charming neighborhoods. We are fortunate to have a number of local community assets, both within our boundaries and nearby, including the Barclay School, the Waverly Branch of the Enoch Pratt Free Library, the 32nd Street Farmers Market, and historic Huntingdon Baptist Church. We are within walking distance of The Johns Hopkins University campus, the Baltimore Museum of Art and Union Memorial Hospital, as well as a number of restaurants, shops, grocery stores and other retailers. A small, community-maintained park, the Abell Open Space, is located in the heart of our neighborhood and provides a central green space for recreation and community gatherings. Each September, the community comes together for the Abell Community Street Fair , an annual ‘celebration of urban living at its best”.
The property is located at the northeast corner of E. 31st Street and Barclay Street, fronting 105′ on 31st and 150′ on Barclay and comprising approximately 15,960 square feet or 0.37 acre. The church building occupies the southwestern corner of the site and the structure is bounded by a fenced side and rear yard.
Zoning – R7, Residential – religious building
Utilities – public water, public sewer, gas, electricity
Brick and Stone Church Building, constructed in 1922 and comprising 5,215 square feet, according to public tax records, plus full lower level and mezzanine.
Columned front entrance
Stained glass windows
Asphalt shingle and built-up roofs
Multiple entrances for the first floor and lower level
Gas, hot water heat
Central air conditioning
200 ampere electrical main with sub-panels
The building appears to be well constructed but requires repairs and maintenance.
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Book 18237, Page 393.
Churches and religious institutions are typically exempt from real estate taxes. The current published tax assessment for the property is $552,167. At the current City/State tax rate, published real estate taxes would be $12,897.40.
Seller provided financing is available – 25% down, 5.95% interest, 20 year amortization, 3 year maturity. Example on purchase price of $200,000, monthly principal and interest payment would be $1,427.10. Purchasers are under no obligation to use this financing and may obtain their own financing or pay cash.
A $25,000 deposit, payable by certified check or 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, 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.
No buyer’s premium.