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Featuring Live & Online Simulcast Bidding
– $80,000 Opening Bid –
TWO UNIT TOWNHOME
All Brick – End-Of-Group – Fully Rented
1666 NORTHGATE ROAD
Baltimore City, MD 21218
Online Bidding Opens
TUESDAY, SEPTEMBER 7, 2021
Live Onsite Auction
THURSDAY, SEPTEMBER 9, 2021
AT 2:00 P.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.
1666 Northgate Road is located in the Hillen neighborhood in northeast Baltimore City. Morgan State University is located immediately opposite, across Hillen Road. Surrounding neighborhoods include Original Northwood, New Northwood, Ednor Gardens-Lakeside and Stonewood-Pentwood-Winston. Nearby homes are comprised predominantly of brick townhomes constructed in the late 1940s and early 1950s. In addition to Morgan State, major nearby employers include MedStar Good Samaritan Hospital, Loyola University Maryland and Johns Hopkins University. Nearby Hillen Road/Perring Parkway to the north, provides direct access to the Baltimore Beltway (I-695). E. Cold Spring Lane, immediately north, becomes Moravia Road, providing direct access to I-895 and I-95. Shopping, dining and neighborhood services are all readily available along each of the aforementioned roads.
Lot size – 22′ x 139’7″, according to public tax records. See plat for full dimensions.
The property sits beyond the end of a cul-de-sac, fronting along a tree lined walking path. The lot is bound by side and rear 15′ alleys, providing drive-up access to the property, and potential off-street parking. Front and rear yards.
Zoning R-5, residential, 2 dwelling units.
All public utilities
Two story brick end-of-group townhome – constructed in 1948, containing 1,360 square feet of living area and 680 square feet of basement space, according to public tax records. The home is arranged for two dwelling units, both of which are occupied by long-term tenants. Each unit comprises of one bedroom, bathroom, living room and kitchen. Basement is unfinished with separately metered gas water heaters, gas boilers and 100 amp electrical panels.
Current rent being collected is a total of $1,150/month, reduced for Covid-19 related reasons. Gross scheduled income stated in the leases are $700/month for unit #1 and $550/month for unit #2. Leases are available after completion of a waiver and confidentiality agreement.
Please complete a Waiver and Confidentiality Agreement form to view the leases.
The property is in fee simple and sold free and clear of liens.
Published annual real estate taxes are $2,086.24, based on a full value assessment of $88,400.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – 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 within 24 hours at the Auctioneer’s office.
Online Auction Bidders – a 10% deposit, payable by cashier’s check or wire transfer, will be required of the purchaser by 4:30 p.m. on the day of auction, 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, ground 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. 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. 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.