"Parklane"

ONLINE REAL ESTATE AUCTION

TOWNHOME
ARRANGED FOR 2 UNITS
✦ LEAD FREE ✦

Known As:
4511 PIMLICO ROAD
Near W. Cold Spring Lane
Baltimore City, MD 21215

BIDDING OPENS:
MONDAY, FEBRUARY 8, 2021

BIDDING CLOSES:
WEDNESDAY, FEBRUARY 10, 2021 AT 1:00 P.M.

– Suggested Starting Bid: $30,000-

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:
4511 Pimlico Road is located in the Parklane neighborhood of northwest Baltimore City. Surrounding neighborhoods include Cylburn, Central Park Heights and Levindale. Within a quarter mile of the property there are grocery stores, restaurants, retail and other entertainment options. Commuters can take advantage of W. Cold Spring Lane for east/west travel and Park Heights Avenue for north/south travel; various bus routes are available on both. Within a quarter mile of the surrounding neighborhood of Central Park Heights is the site for the proposed redevelopment of a 17 acre mixed-use development consisting of “two multi-family buildings on Park Heights Avenue and straddling two sides of Virginia Avenue, one an affordable housing complex with over 100 units, and one specifically for seniors with about 50 units,” according to The Baltimore Sun. Within a mile of the home is one of Baltimore’s greatest hidden treasures, Cylburn Arboretum. At the Arboretum, visitors can enjoy an escape of city life by walking through the 200 acre urban oasis that is lined with hundreds of specimen trees, plant collections, gardens and wooded trails. Nearby employers in the area include Sinai Hospital and Loyola University.

For more information, please see:
Neighborhoods – livebaltimore.com
Plans for Park Heights redevelopment – www.baltimoresun.com

SITE:
Lot – 21′ 4″ x 157′ 6″, more or less. Plat

Zoned R-6 Residential, approved for two dwelling units

Parking potential

All public utilities

Fenced rear yard

IMPROVEMENTS:
Two story end-of-group brick townhome arranged for two dwelling units. Each unit is believed to contain living room, dining room, kitchen, two bedrooms and bathroom. The first floor unit is rented and current for $825 per month. Second floor unit is vacant and previously rented for $900 per month. MDE Lead Inspection Certificate

ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the lease.

TITLE:
In fee simple; sold free and clear of liens. Baltimore City Deed Book Liber FMC 10933, folio 392.

TAXES:
Published annual real estate taxes are $448.40, based on a full value assessment of $19,000.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $3,500 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 4:30 P.M. on Wednesday, February 10, 2021. 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, 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 deposit, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing lease 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.