"Mid-Town Belvedere"

$200,000 Suggested Opening Bid

End-of-Group Brick
APARTMENT BUILDING
4 Self-Contained Apartments ◆ 1 Office

Sale On Premises
227 E. BIDDLE STREET
Corner Guilford Avenue
Baltimore, MD 21202

FRIDAY, FEBRUARY 17, 2017
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:
227 E. Biddle Street is located in the Mid-Town Belvedere neighborhood of Downtown Baltimore, north of Mount Vernon, south of Charles North, east of Bolton Hill and west of the Jones Falls Expressway (I-83). The surrounding neighborhood is a mixture of residential and commercial land uses, anchored by the University of Baltimore. The Ivy Hotel, a five-star 18-room boutique hotel is located on the same block as the subject building. Located nearby are Penn Station, the Lyric Opera House, Joseph Meyerhoff Symphony Hall, Peabody Conservatory, Center Stage, numerous restaurants, bars and small businesses. Demand for rental housing in the area is very strong.

For additional information on Mid-Town Belvedere see Live Baltimore’s web link:
https://livebaltimore.com/neighborhoods/mid-town-belvedere

SITE:
Rectangular lot, fronting 17′ along the south side of E. Biddle Street by 90′ along the west side of Guilford Avenue.

All public utilities

Zoning OR-4, office-residential, registered for 4 dwelling units and an office

IMPROVEMENTS:
Three Story Brick End-of-Group Building, built in 1900, containing 4,046 square feet of living area and 1,530 square feet of basement space, according to public tax records.

Exterior
Stone trim bow window on first level
Vinyl double-hung windows on upper levels
Steel fire escape
Flat built-up roof
Entrances on Biddle Street and Guilford Avenue

Interior
The building contains 4 apartment units and an office. Floors are hardwood, carpeting and ceramic tile. Walls are plaster and drywall. Each unit has separate forced air heat and separate utility meters.

Apartment 1A – two story unit containing living room, kitchen, bedroom, bath, basement; rented for $770/month, month-to-month lease

Apartment 2R – living room, kitchen, bedroom and bath; rented for $750/month, month-to-month lease

Apartment 2F – living room, kitchen, bedroom and bath; vacant

Apartment 3 – living room, kitchen, 2 bedrooms, bath; vacant

Office – wood paneling, vinyl floor over wood, rest room rough-in, tin ceiling, second floor loft. The office needs renovation and may also be suitable for an additional apartment unit.

Laundry Room – coin operated washer and dryer

 

 

MDE REGISTRATION:
MDE Lead Registration No. 0177244

TITLE:
In fee simple. Baltimore City Deed Book 5003, Page 477.

TAXES:
Published annual real estate taxes are $7,077.64, based on a full value assessment of $299,900. 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

TERMS OF SALE:
A $20,000 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, February 20 at the Auctioneer’s office. 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. 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. Time is of the essence.

No buyer’s premium.