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ONLINE REAL ESTATE AUCTION
15 S. KRESSON STREET
Off E. Lombard Street
Baltimore City, MD 21224
MONDAY, AUGUST 1, 2022
WEDNESDAY, AUGUST 3, 2022 AT 11:00 A.M.
– Opening Bid: $25,000 –
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.
15 S. Kresson Street is located in the Kresson neighborhood of southeast Baltimore City. Surrounding neighborhoods include the Canton Industrial Area, Baltimore Highlands and Greektown. The surrounding area has been a target for redevelopment within the previous decade. Yard 56 (1 mile) is a recently developed mixed use shopping center with entertainment, retail and restaurant space. In Highlandtown, on Eastern Avenue (0.8 mile), there has been a revitalization of shops, restaurants and community centers. The home has terrific proximity to major commuting routes – I-95, I-895 and Route 40 are all within 5 minutes. Major employers in the area include Johns Hopkins Bayview Medical Center, Mid-Atlantic Baking and various port/marine employers in the Canton Industrial Area.
For more information, please see:
CityView Map – cityview.baltimorecity.gov
Neighborhoods – livebaltimore.com
Southeast Community Development Corporation – www.southeastcdc.org
Lot – 13′ x 83′, more or less. Plat
All public utilities
Zoned I-2, Industrial
Two story brick inside-group townhome. According to public tax records, the property was constructed in 1900 and contains 1,144 square feet of living area and 572 square feet of basement space. The tenant, in arrears, is on a month to month lease for $933/mo. According to the seller, the tenant was receiving assistance from BRHP and is supposed to be relocated by BRHP within 2-3 months.
Please complete a Waiver and Confidentiality Agreement form to view the lease and rental license.
In fee simple; sold free and clear of liens. Baltimore City Deed Book Liber MB 19050, folio 11.
Published annual real estate taxes are $1,328.68, based on a full value assessment of $56,300.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $5,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4 P.M. on Wednesday, August 3, 2022 (the bid closing). 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.