"Fells Point"

 REAL ESTATE AUCTION 

$100,000 Suggested Opening Bid

THREE STORY TOWNHOME
– Arranged For Two Units –

Sale On Premises
428 S. BOND STREET
Off Eastern Avenue
Baltimore City, MD 21231

FRIDAY, DECEMBER 14, 2018
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.

LOCATION:
428 S. Bond Street is located in the Fells Point neighborhood, and is within the Fells Point National Historic District, a CHAP Historic District. The property is in a prime position, within short proximity of the Fells Point entertainment district, Harbor East, Little Italy, Downtown Baltimore and Johns Hopkins Hospital. Major employers, dining options, shopping and entertainment are all nearby. President Street, a few blocks west, provides easy access to I-83 (JFX), and Eastern Avenue, immediately south of the property, provides access to Patterson Park, Canton, Highlandtown and routes to I-95 and I-895. The property is located within a federally designated Opportunity Zone, which may provide purchasers with tax incentives.

For more information, please see:
https://livebaltimore.com/neighborhoods/fells-point/
https://www.fellspoint.us/
https://baltimore.org/neighborhoods/fells-point
https://dhcd.maryland.gov/Pages/OpportunityZones.aspx

SITE:
Rectangular lot – 17’6″ x 63′, more or less

All public utilities

Zoning R-8, residential, single family
For more information, see the Baltimore City Zoning Code.

IMPROVEMENTS:
Three story brick inside-group townhome – constructed in 1880 and containing 2,385 square feet of living area. The home is arranged for two apartment units. The units are currently occupied, generating $1,700/month gross rent.

The property is arranged as follows:

Exterior:
Brick facade
Flat built-up roof
Replacement windows

Interior:

Unit 1 – First Floor – Currently rented for $800/month

• Living room
• Dining area
• Kitchen
• Bedroom
• Full Bath

Unit 2 – Second and Third Floor – Currently rented for $900/month

• Living room
• Dining area
• Kitchen
• Bedroom
• Bedroom
• Full bath
• Powder room

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

TAXES:
Published annual real estate taxes are $4,537.50 based on a full value assessment of $192,267

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $10,000 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 by 11:00 A.M., Monday, December 17, 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, shall be adjusted at the time 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. 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. 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