ONLINE REAL ESTATE AUCTION
2 RENTAL TOWNHOMES &
1727 AND 1729 DRUID HILL AVENUE &
2129 McCULLOH STREET
Baltimore, MD 21217
TUESDAY, JULY 13, 2021
FRIDAY, JULY 16, 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.
Adjoining brick townhomes to be offered individually and as an entirety. 1727 Druid Hill Avenue, 7 year section 8 tenant paying $1,394/ month on a month-to-month lease. 1729 Druid Hill Avenue, 3 year section 8 tenant paying $1,322/month on a month-to-month lease. 2129 McCulloh Street is vacant and will be sold individually only.
The properties are situated in the Druid Hill area of west Baltimore City. The adjoining townhomes are located in the Upton neighborhood that is known as one of Baltimore’s earliest African American middle class neighborhoods. The neighborhood has well preserved architectural detail, along with ties to famous Baltimore locals such as Thurgood Marshall and Clarence Mitchell. The shell townhome is located in the Druid Heights neighborhood that is known for its large townhomes – some featuring five bedrooms and most being 3 stories tall. Public transportation, including bus routes and metro lines, dining, retail and entertainment venues can be found on North Avenue. Major employers in the area include Maryland Institute College of Art (MICA), University of Baltimore and Coppin State University.
For additional neighborhood details:
Neighborhoods – livebaltimore.com
1727 DRUID HILL AVENUE:
$60,000 starting bid
1729 DRUID HILL AVENUE:
$60,000 starting bid
2129 McCULLOH STREET:
$25,000 starting bid
Please complete a Waiver and Confidentiality Agreement form to view the leases and Section 8 Inspection Letter.
TITLE & TAXES:
1727 Druid Hill Avenue – in fee simple; sold free and clear of liens. Published annual real estate taxes are $1,496.24, based on a full value assessment of $63,400.
1729 Druid Hill Avenue – $108 ground rent payable in semi-annual installments on 3/1 and 9/1; sold free and clear of liens. Published annual real estate taxes are $1,496.24, based on a full value assessment of $63,400.
2129 McCulloh Street – $100 ground rent payable in semi-annual installments on 7/1 and 12/1; sold free and clear of liens. Published annual real estate taxes are $739.46, based on a full value assessment of $31,333.
MANNER OF SALE:
Both 1727 & 1729 Druid Hill Avenue will be offered individually and the bids reserved. Then, both properties will be offered as an entirety. The sale will be made in the manner producing the greater amount. 2129 McCulloh Street will be offered afterwards.
SUMMARY TERMS OF SALE:
Please see the contracts of sale for complete terms.
A 10% deposit, for each property, 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 Friday, July 16, 2021 at 4:00 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. For 1727 and 1729 Druid Hill Avenue – 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. Security deposits, if any, shall be adjusted at the time of settlement. For 2129 McCulloh Street – 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, with interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date 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. A 5% buyer’s premium will be added to the final bid price.