"Dundalk"

 REAL ESTATE AUCTION 

– $350,000 Suggested Opening Bid – 

 Mixed-Use, Freestanding 
COMMERCIAL BUILDING 
3 Stores ◆ 5 Apartments 

 Sale On Premises 
30-38 N. DUNDALK AVENUE 
Corner Patapsco Avenue 
Baltimore County, MD 21222 

THURSDAY, APRIL 26, 2018 
AT 11:00 A.M. 

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be substantially 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:
30-38 N. Dundalk Avenue is located in the Dundalk area of southeastern Baltimore County. The site is two blocks north of the Old Dundalk Shopping Center and eight blocks southeast of Fort Holabird Park. The area has easy linkage to I-695 and I-95. Public bus service is along Dundalk Avenue. The surrounding neighborhood is a mixture of housing, retail stores, churches, community buildings, warehouses and manufacturers.

SITE:
The property is a triangular parcel, fronting approximately 129′ along the west side of N. Dundalk Avenue, 125′ along the east side of W. Dundalk Avenue and 51′ along the north side of Patapsco Avenue, comprising 4,356 square feet of land or 0.10 acre.

Zoning BL-CCC, business local

All public utilities

Level lot, clear except for the building

Good visibility from northbound and southbound Dundalk Avenue.

IMPROVEMENTS:
Two story freestanding commercial building, constructed in 1924 and containing 6,687 square feet of gross building area, according to public tax records. The building is stucco over brick, has a built-up roof, multiple exterior entrances, vinyl-clad double hung windows on the apartments and aluminum cased show windows on the commercial units. There are three commercial tenants and five one-bedroom, one-bath apartments. Each unit is separately metered and heated.

OCCUPANCY:
Five apartment units rent from $450 to $900 per month. Three commercial tenants include a pizza shop – $1,425/month, a barber shop – $500/month and a grocery store – $1,100/month. Lease terms vary and there is potential for increased income.

Please complete the Waiver & Confidentiality Agreement to receive the following additional information by email:

• Income and Expense statement
• Copies of Leases
• Copies of Rental Housing Licenses
• Copies of MDE Lead Registrations

TAX INFORMATION:
District – 12 Account Number – 1204051721. Map 103, Grid 15, Parcel 551. Known as 32 Dundalk Avenue. Current real estate taxes are $8,379.28, including a $2,800 special tax assessment for sewer service, based on the current total assessed value of $412,000.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book 25973, Page 566.

TERMS OF SALE:
A $25,000 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. 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, to be adjusted to date of settlement. The property will be sold in “AS IS, WHERE IS” condition, subject to existing zoning, 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 except where otherwise mandated by local, State or Federal law. Time is of the essence.

No buyer’s premium.