"Fells Point"

REAL ESTATE AUCTION

TWO STORY TOWNHOME
– Rented for $1,200/Month – Long Term Tenant –

Sale On Premises
2015 EASTERN AVENUE
Near S. Washington Street
Baltimore City, MD 21231

WEDNESDAY, DECEMBER 11, 2019
AT 1:45 P.M.

– Suggested Starting Bid: $65,000 –

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:
2015 Eastern Avenue is located within the Fells Point neighborhood of Baltimore City, and is within the Fells Point National Historic District. Fells Point is among the best known neighborhoods in Baltimore, and has been a hub of business, entertainment and culture in Baltimore for over 250 years. Surrounding neighborhoods include Upper Fells Point, Canton, Little Italy and Washington Hill. The property is situated about 4 blocks west of Patterson Park, which features an array of recreational opportunities in addition to the scenic paths, pond and Pagoda. Other nearby attractions can be found along Broadway, a short distance to the west, as well as the Fells Point, Canton and Harbor East waterfront areas to the south. The waterfront areas feature an ample variety of dining, shopping and entertainment. The Johns Hopkins Hospital East Baltimore Campus is roughly 8 blocks to the north. Other major employers are also within close proximity. The Jones Falls Expressway (I-83) is about 1 mile northwest, and I-95 is a little over 2 miles east.

For more information about the area, please see:
https://livebaltimore.com/neighborhoods/fells-point/

SITE:
Lot size – 12’5″ x 60′, more or less

Zoned R-8 residential

All public utilities

IMPROVEMENTS:
Two story formstone front brick townhome – constructed in 1920, containing 750 square feet of living area and 375 square feet of basement space, according to public tax records. The home is currently rented for $1,200/month (plus utilities and water), on a month to month lease to a 10 year+ tenant. The home is arranged for a living room, kitchen, 2 bedrooms and 1.5 baths.

TITLE:
Subject to an annual $31.04 ground rent, and annual sub-rent of $120; sold free and clear of liens.

TAXES:
Published annual real estate taxes are $2,528.34, based on a full value assessment of $107,133. 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 REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $7,500 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 (whether from buyer or lender) at settlement, which shall take place within 45 days, or earlier if mutually agreed to by the parties. 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, 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, and subject to the lease of the tenant in place. 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. A 5% buyer’s premium will be added to the final bid price.