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Buy It Now:
3733-3735 Falls Road – $395,000 (8% cap)
3737 Falls Road – $565,000 (8% cap)
Baltimore, MD 21211
100% Occupied ◆ Redevelopment Potential
To Be Offered Individually & As An Entirety
3733-3735 FALLS ROAD
Office & Apartment Building
$44,400 Gross Rentals ◆ $250,000 Opening Bid
3737 FALLS ROAD
Retail Building & 4 Garages
$47,962 Gross Rentals ◆ $350,000 Opening Bid
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.
The properties are located in the Hampden neighborhood of north Baltimore, at the corner of Falls Road and W. 38th Street. Hampden is a quirky Baltimore neighborhood, mainly comprised of townhomes. The neighborhood commercial district is situated along Falls Road and 36th Street, also know as “The Avenue.” Neighborhood businesses include restaurants, boutiques and offices. Hampden has multiple green spaces and is attractive to home buyers and renters. Area housing is a mixture of existing homes, some of which are more than 100 years of age, and new construction.
DUE DILIGENCE INFORMATION:
Please complete the Waiver and Confidentiality Agreement to receive:
3733-3735 Falls Road – rectangular lot 44′ x 93′, comprising approximately 4,092 square feet. Fenced rear yard. Concrete front and sides. Plat
3737 Falls Road – fronts 35′ along the east side of Falls Road by 111′ along the south side of W. 38th Street, comprising approximately 3,659 square feet. The lot is mostly improved by the buildings and has a small fenced grassy area in the rear. Plat
Utilities – public water, public sewer, natural gas, electricity, telephone, cable/internet.
The site has good visibility from northbound and southbound Falls Road and may be suitable for redevelopment.
C1 (Neighborhood Commercial) Zone permits neighborhood commercial activities and small-scale freestanding businesses.
3733-3735 Falls Road – freestanding three and one-half story vinyl sided building with stone foundation, composition shingle roof, vinyl-clad double-hung windows, second floor balcony, three electric meters, two gas meters. According to public tax records, the building was constructed in 1880 and comprises approximately 2,609 square feet. First floor is currently rented to Everett Tag and Title for $1,025 per month. The first floor office is drywall and carpeting, has two rooms, a rest room and a mechanical room. Apartment #1 (two bedrooms and bath) is rented for $1,325 per month. Apartment #2 (two bedrooms and bath) is rented for $1,350 per month. Apartments are registered lead free. All tenants have leases and pay their own utilities. Gas forced air heat and central air conditioning – two systems, one apartment and office tenant share the cost, and the other apartment has a separate unit. Landlord provides water.
3737 Falls Road – free standing one story concrete block storefront building, built in 1920 and comprising approximately 2,830 square feet, according to public tax records. The building has a built-up roof, commercial entrance and four attached masonry garages in the rear. The main building is rented to Soul Love Salon, a hair salon and boutique, for $3,341.86 per month. The tenant also pays the cost of taxes and insurance. The space consists of a large open salon, clothing sales area, storage room and two rest rooms. HVAC is gas forced air with central air conditioning and an additional split unit; 200 amp. electric and gas water heater. Interior finishes are drywall and vinyl flooring. The four garages are rented for $125 to $250 per month.
Published annual real estate taxes are as follows:
3737 $5,188 (paid by tenant)
3733-3735 Falls Road – Baltimore City Deed Book MB 20678, Page 478. The property is in fee simple and sold free and clear of liens.
3737 Falls Road – Baltimore City Deed Book MB 21203, Page 238. The property is in fee simple and sold free and clear of liens.
Each building is owned by a separate LLC and the buyer will have the option of purchasing the LLC.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A ten percent (10%) deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. 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. 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 existing leases. Security deposits, if any, shall transfer at settlement. 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. A 5% buyer’s premium will be added to the final bid price. Time is of the essence.