"Little Italy"

REAL ESTATE AUCTION

THREE STORY
BRICK TOWNHOME
– Zoned C-1 Commercial –

Sale On Premises
919 STILES STREET
Off W. Lombard Street
Baltimore City, MD 21202

WEDNESDAY, OCTOBER 31, 2018
AT 12:00 NOON

– Suggested Starting Bid: $125,000 –

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:
919 Stiles Street is located in the heart of Little Italy. Historically known as the hub of Italian food and culture in Baltimore, Little Italy has become an eclectic village located in one of the most active parts of the City. Bound by the Inner Harbor, Harbor East, Fells Point and Downtown, Little Italy offers exceptional access to major employers, shopping, dining and entertainment. The neighborhood itself has a number of feasts, festivals and events throughout the year. The D’Alesandro Park Bocce Courts are located on the opposite side of the street. Some of the City’s most famous restaurants, schools and religious institutions are within one block.

For more information about the area, please visit:
https://livebaltimore.com/neighborhoods/little-italy/
http://www.littleitalymd.org/

SITE:
Lot – 12’6″ x 100′, more or less

Rear patio

All public utilities

Zoning – C-1, Commercial. According to the TransForm Baltimore zoning district summary, C-1 districts are intended to be “Commercial clusters or pedestrian-oriented corridors of commercial uses that serve the immediate neighborhood. Ensures compatibility between neighboring residential and commercial uses.”

For more information about zoning, please visit:
https://planning.baltimorecity.gov/

IMPROVEMENTS:
Three story brick inside-group townhome – the home was constructed in 1870, contains 2,122 square feet of living area and 875 square feet of basement space. The property was originally oriented for mixed use, with a storefront on the first floor and apartment above. Currently in need of renovation.

INTERIOR:

First floor:

• Room – carpet
• Room – carpet
• Room – carpet
• Half bathroom – tile

Second floor:

• Bedroom – carpet
• Bathroom – carpet
  With washer/dryer hook up
• Kitchen – laminate tile
  Wood cabinets and countertops

Third floor:

• Bedroom – carpet
• Bedroom – carpet

TITLE:
Subject to an annual $31.11 ground rent (due in semi-annual installments on 1/1 & 7/1); sold free and clear of all liens.

TAXES:
Published annual real estate taxes are $4,684.60, based on a full value assessment of $198,500. 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:
http://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 $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. 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. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, 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 contract 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. 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. 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.