Buy It Now: $125,000 - "Central Forest Park"

BUY IT NOW: $125,000

Three Unit
APARTMENT BUILDING
– $31,800 Gross Annual Rent –

Sale On Premises
4103 LIBERTY HEIGHTS AVENUE
Baltimore City, MD 21207

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:
4103 Liberty Heights Avenue is located in the Central Forest Park neighborhood in northwest Baltimore City. Surrounding neighborhoods include Forest Park, Howard Park and Dorchester. The Forest Park Golf Course is a short distance to the west. I-695 is about 3 miles west, and I-70 is about 2.5 miles to the southwest. Shopping, dining and public transportation are along Liberty Heights Avenue, including a grocery store within two blocks. Surrounding properties are a mix of large traditional homes and multi-unit buildings.

For more information about Baltimore City neighborhoods, please visit:
http://livebaltimore.com/neighborhoods/

SITE:
Rectangular lot – 50′ x 172’6″, more or less

Front and rear yards

Off street parking

Zoning R-2, residential, 3 dwelling units

Public water, sewer, gas, electricity, telephone, cable TV

IMPROVEMENTS:
Three story free-standing apartment building – the building was constructed in 1910, contains 2,581 square feet of living area and 850 square feet of basement space. The fully-occupied building is arranged for three self-contained dwelling units, and features vinyl clad replacement windows, separate exterior entrances and rear fire escape. Tenants pay their own gas and electric. Each unit has an MDE lead certificate. The units are arranged as follows:

First floor (a/k/a Apartment 1) – $1,150 per month on a month to month lease (annual lease expired 8/31/16). Contains 6 rooms, kitchen and bath.

Second floor (a/k/a Apartment 2) – $900 per month on a month to month lease (annual lease expired 1/1/12). Contains 4 rooms, kitchen and bath.

Third floor (a/k/a Apartment 3) – $600 per month on a month to month lease (annual lease expired 12/17/16). Contains 3 rooms, kitchen and bath.

Gross rent: $2,650 per month, or $31,800 annually

For copies of the leases, lead certificates and dwelling license, please fill out a Waiver and Confidentiality form – see above for the link for Leases/Financial Information.

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

TAXES:
Published annual real estate taxes are $2,832, based on a full value tax assessment of $120,000. 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:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

TERMS OF SALE:
A 10% deposit, payable by certified check or cashier’s check, will be required of the purchaser at time and place of sale. 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. 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 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!