"Central Park Heights"

REAL ESTATE AUCTION

TWO STORY
STOREFRONT BUILDING

Sale On Premises
4900 LITCHFIELD AVENUE
Off W. Belvedere Avenue
Baltimore City, MD 21215

THURSDAY, APRIL 18, 2019
AT 1:00 P.M.

– Suggested Starting Bid: $10,000 –

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:
4900 Litchfield Avenue is located in the Central Park Heights neighborhood in northwest Baltimore City. Surrounding neighborhoods include Cylburn, Lucille Park, Pimlico Good Neighbors and Arlington. The property is located within 1.4 miles of Pimlico Race Track and 2 miles from Cylburn Arboretum. The property is off of W. Belvedere Avenue, which has a variety of dining, retail and entertainment options. Major employers in the area include Sinai Hospital (1.4 miles) and Pimlico Race Course. Commuters have easy access to Northern Parkway (1 mile), Rogers Avenue Metro Station (1 mile) and I-83 (2.5 miles).

For more information, please see:
https://livebaltimore.com/neighborhoods/

SITE:
Lot – 47’8″ x 36’9″, more or less

All public utilities

Zoned R6 Residential. Approved for one dwelling unit. Previously approved for grocery on first floor.

IMPROVEMENTS:
Two story storefront building including one dwelling unit – according to public tax records, the property was constructed in 1900. The property is believed to be arranged as a convenience store on the first floor and two bedroom apartment on the second floor.

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

TAXES:
Published annual real estate taxes are $755, based on a full value assessment of $32,000. 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:
https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $5,000 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. 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, 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 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!