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Featuring Live & Simulcast Online Bidding
– $1,250,000 Starting Bid –
6 Buildings ◆ 21 Units ◆ Baltimore City
Sale On Premises
30 E. 25th STREET
Near St. Paul Street
Baltimore, Maryland 21218
Online Bidding Opens
MONDAY, JANUARY 18, 2021
Live Onsite Auction Begins
THURSDAY, JANUARY 21, 2021
AT 12:00 NOON
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. The auction will be open for online bidding beginning on Monday, January 18, 2021. Once the simulcast begins, both online and in-person bidders will be able to place bids on the property. The simulcast will end approximately 15 minutes after the live auction begins, at which time online bidding will close. If you encounter a problem placing online bids, please refresh the page.
The auction comprises a collection of 6 Baltimore City multifamily buildings comprising a total of 21 rental units. The buildings are located in the Charles Village, Barclay and Druid Heights neighborhoods in Baltimore City. The unit mix includes 19 residential units and 2 commercial units, with 20 of the 21 units currently rented. Rentals include both market rate and housing choice vouchers.
The sale is being conducted as an entity transfer of the 4 LLCs that currently own the buildings, and includes buyer assumption of the existing Deed of Trust collateralized by all 6 buildings. The Note balance at the time of settlement will be deducted from the net proceeds the buyer is required to provide at closing. Rental information will be updated throughout the marketing period. Due diligence information and property descriptions are provided below.
Please complete the Confidentiality Waiver to obtain copies of:
30 E. 25th Street, Baltimore, MD 21218:
2405 Barclay Street, Baltimore, MD 21218:
2018 McCulloh Street, Baltimore, MD 21217:
2016 McCulloh Street, Baltimore, MD 21217:
2014 McCulloh Street, Baltimore, MD 21217:
1918 McCulloh Street, Baltimore, MD 21217:
SUMMARY TERMS OF SALE:
Please see the Purchase Agreement for complete terms.
A $100,000 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 by wire transfer or cashier’s check. If the high bidder is an online purchaser, 10% of the purchase price is due by wire transfer or cashier’s check at the Auctioneer’s office, by 4:30 P.M. on the day of the 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. 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 and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, and subject to existing leases, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. 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. Members of the selling entity reserve the right to bid for their own account. The sale price includes the assumption of the existing Deed of Trust and Note with an approximate principal balance of $1,215,000. The balance due thereon will be deducted from the amount of cash due from the purchaser at settlement, pursuant to the assumption clauses in the Purchase Agreement. Security deposits shall be transferred at settlement. Time is of the essence.
No buyer’s premium.