ONLINE REAL ESTATE AUCTION
– $50,000 Opening Bid –
TWO UNIT RENTAL TOWNHOME
– $2,075/Month Gross Rent –
3912 ERDMAN AVENUE
Near Sinclair Lane
Baltimore City, MD 21213
MONDAY, APRIL 5, 2021
WEDNESDAY, APRIL 7, 2021 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.
3912 Erdman Avenue is located in the Belair-Edison neighborhood. As described by LiveBaltimore.com, “Belair-Edison in Northeast Baltimore is nestled between multiple green spaces. The 300-acre Herring Run Park runs along its north side, Lake Montebello to the west and Clifton Park to the southwest. The neighborhood contains more than 6,900 porch-front, park-front and detached homes, many with yards and off-street parking. Belair-Edison is home to a revitalizing business district along Belair Road and Erdman Avenue, shopping centers and a micro-brewery.”
The property sits opposite the Erdman Shopping Center, and public transportation is a couple of blocks away. Major employers nearby include Johns Hopkins East Baltimore and Bayview Campuses, as well as those in the Orangeville, I-95 and I-895 corridors.
Lot size – 19′ x 100′, more or less. Plat
Fenced rear yard
All public utilities
Zoned R-7 residential, two dwelling units
Two story brick inside-group townhome arranged for two dwelling units – constructed in 1955, containing 1,178 square feet of living area above grade and 589 square feet of mostly finished basement space at grade in the rear, according to public tax records. The property is currently rented for $1,100/month for the first floor and basement, and $975/month for the second floor, totaling $2,075/month gross rent. The landlord pays for heat and water. The property is further described below.
Unit 1 – Comprising the first floor and basement. Finishes include wood floors, ceramic tile floors and walk-out access from basement, in addition to primary first floor access. Arranged as follows: living room (wood floor), bedroom (wood floor) and bedroom/den (wood floor, no closet), on the first floor; open kitchen with breakfast and seating areas (ceramic tile floor), bedroom/den (ceramic tile floor) and full ceramic tile bath, on the lower level. Rented for $1,100/month.
Unit 2 – Comprising the second floor. Finishes include wood floor, ceramic tile floor and common interior entry. Arranged as follows: kitchen (laminate floor), bedroom (wood floor, ceiling fan), bedroom (wood floor) and full ceramic tile bath.
Utilities – One gas forced air furnace and one 40 gallon gas water heater. 2 electric meters and 2 gas meters.
Please complete a Waiver and Confidentiality Agreement form to view the lease.
$96 annual ground rent (due in semi-annual installments on 4/5 & 10/5); sold free and clear of all liens
Published annual real estate taxes are $2,419, based on a full value assessment of $102,500.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $7,500 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 Wednesday, April 7, 2021 at 4:30 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. All adjustments, including taxes, rents, 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 settlement and assumed thereafter by the purchaser. Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, 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. 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.
NO BUYER’S PREMIUM!