"Old Goucher College"

$140,000 Opening Bid

Three Story
FREESTANDING BUILDING
Zoned C-2 ✦ 0.18± Acre ✦ 10+ Car Parking

– Enterprise Zone –

Known As:
117-119 W. 24TH STREET
Known as “The R.B. Fulton Building”
Off Howard Street
Baltimore City, MD 21218

BIDDING OPENS:
FRIDAY, DECEMBER 18, 2020

BIDDING CLOSES:
MONDAY, DECEMBER 21, 2020 AT 12:00 NOON

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:
117-119 W. 24th Street, also known as just 117 W. 24th Street, is located in the Old Goucher neighborhood in North Baltimore, and is within the Old Goucher College Historic District. Surrounding neighborhoods include Remington, Charles North, Charles Village and Barclay. The immediate area is comprised of a variety of property uses, including religious, automotive, government offices, storage, apartments and townhomes. Substantial development has been ongoing in the surrounding area, notably within the Barclay, Remington and Station North areas. Much of that development has been pushing closer to Old Goucher in recent years.

Johns Hopkins University, Maryland Institute College of Art (MICA) and University of Baltimore are all within approximately 10 blocks. Downtown begins approximately one-half mile south. Ample public transportation options are nearby, including Amtrak, MARC and Light Rail service at Penn Station (5 blocks south), as well as bus service along both Howard Street and Maryland Avenue.

The property is within an Enterprise Zone, offering an array of incentives for business owners and developers, and may be within the Charles/25th Urban Renewal Plan zone.

For more information, please see:
Old Goucher – livebaltimore.com
CityView – cityview.baltimorecity.gov
Enterprise Zone Information – baltimoredevelopment.com
Charles/25th Urban Renewal Plan – archive.baltimorecity.gov

SITE:
Lot size – 65′ x 123′, more or less, according to public tax records. The lot comprises 7,995 square feet, or 0.184 acre. Plat

The property fronts 65′ on W. 24th Street and 123′ on Mace Street. The building retains some visibility for traffic along N. Howard Street.

Surface parking for approximately 10 vehicles, and may allow more vehicles with some site planning.

All public utilities

ZONING:
C-2 Commercial. According to the Transform Zoning webpage, C-1 zoning comprises “Small to medium-scale commercial use, typically located along urban corridors. Designed to accommodate pedestrians and, in some instances, the automobile. Mixed-use development is appropriate within this district”

Zoning Map

Enterprise Zone Map

For more information about Baltimore City, please visit:
Transform Baltimore – planning.baltimorecity.gov

IMPROVEMENTS:
Three story free-standing building – constructed in 1900, containing 5,220 square feet above grade and 1,800 square feet of basement space, according to public tax records.

The building has a flat-built-up roof, masonry block, brick and fieldstone construction. The building is currently arranged as an office and storage area on the first floor and basement. The second floor is arranged for two dwelling units, and the third floor is also arranged for residential use. There are 4 electric meters, one gas meter, gas boiler and central air conditioning.

The two apartment units on the second floor are currently occupied, but are expected to be vacant at the time of settlement.

The building, which requires renovation, is suitable for ongoing commercial use, mixed use, or residential conversion.

TITLE:
In fee simple; sold free and clear of all liens

TAXES:
Published annual real estate taxes are $4,079.49, based on a full value assessment of $172,667.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $20,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by Monday, December 21, 2020 at 4:30 P.M. 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. 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. 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.

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