"Bolton Hill"

$250,000 Suggested Opening Bid

– RESALE DUE TO BUYER DEFAULT –

c. 1880 Semi-Detached
APARTMENT BUILDING
– Arranged for 5 Apartments –

Known As
1407 PARK AVENUE
Near W. Lafayette Avenue
Baltimore City, MD 21217

Bidding Opens:
TUESDAY, SEPTEMBER 29, 2020

Bidding Closes:
THURSDAY, OCTOBER 1, 2020
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:
1407 Park Avenue is located in the Bolton Hill neighborhood, a Baltimore City (MIHP B-64) and National Register Historic District. The charm of the neighborhood is fostered by the impressive, stately architecture of the homes and buildings, and further accented with interior parks, monuments and a long and storied history of prominent residents and institutions. The home is situated 3 blocks from the Maryland Institute College of Art (MICA), and 7 blocks from the University of Baltimore. Penn Station is approximately three-quarters of a mile to the east, with additional Light Rail stops nearby. The location features excellent proximity to galleries, theaters and dining. The confluence of convenience, history and architecture has made the neighborhood a very desirable destination for more than two centuries of visitors and residents.

For more information about the area, please visit:
Bolton Hill – livebaltimore.com
Bolton Hill – en.wikipedia.org
CityView – cityview.baltimorecity.gov
Historic Districts – chap.baltimorecity.gov
Maryland Inventory of Historic Properties – mht.maryland.gov

SITE:
Lot size – 25′ x 150′, more or less

Partially paved area for 4+ vehicles, accessible via Brevard Street

Patio with exterior access to laundry area

ZONING:
R-7 Residential – Approved for 5 dwelling units

For more information, please visit: Baltimore City Zoning

IMPROVEMENTS:
Four story brick semi-detached building – constructed in 1880, containing 4,729 square feet of living area and 1,371 square feet of partially finished basement space, according to public tax records. The building is at home in Bolton Hill from both an architectural and historic perspective. Ownership records link the property to a State Senator with roots dating back to the American Revolution, a well-known late 19th century architect with a checkered military past, and, perhaps a professional baseball player with a short lived career. The building’s architecture can be categorized as Second Empire, owing to the era of its construction, Mansard roof and array of exterior embellishments. Exterior details include arched doorway, oriel, dormers, bracketed cornice with dentil molding, decorative window arches and lintels.

The home is arranged for 5 apartment units of varying size and arrangement. Interior architectural details include leaded glass transom, a number of fireplace mantles, balustrade and some wood floors. Additional details, including coffered ceiling, plaster work and wood cabinetry, are believed to have been added in more recent decades. The building features 6 electric meters, 6 gas meters, with mixed heating plants (forced hot air and hot water baseboard).

The first floor and lower level comprise a very large unit, suitable for an owner’s suite or division to two units. The second floor contains two units, a one-bedroom unit and a two-bedroom unit. The third floor comprises a two-bedroom unit, and the fourth floor a one-bedroom unit.

The third floor is occupied by a property manager, with the balance of the units vacant. The building is in need of updating and cosmetic repair.

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

TAXES:
Published annual real estate taxes are $11,603.34, based on a full value assessment of $491,667. 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.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $25,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by Friday, October 2, 2020 at 12:00 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, 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 contract 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. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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!