"Ridgely's Delight"

 REAL ESTATE AUCTION 

$90,000 Suggested Opening Bid

END-OF-GROUP
THREE STORY TOWNHOME
– Zoned for Two Dwelling Units –

Sale On Premises
628 PORTLAND STREET
Corner Emory Street
Baltimore City, MD 21230

THURSDAY, MARCH 7, 2019
AT 11:15 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:
628 Portland Street is located in the Ridgely’s Delight neighborhood in Baltimore City. Ridgely’s Delight is an historic neighborhood, characterized by historic architecture and a convenient location to major employment and visitor hubs in Baltimore City. The University of Maryland, Baltimore campus is one block north, and is well-known for the University of Maryland Medical Center, R. Adams Cowley Shock Trauma Center, Law School, School of Social Work and much more. Campus staff and students comprise a significant portion of neighborhood residents. Oriole Park at Camden Yards is approximately 3 blocks southeast, and the Babe Ruth Birthplace and Museum is behind the property along Emory Street. Additional attractions in the neighborhood include the Baltimore City Convention Center (4 bocks east), Royal Farms Arena (5 blocks northeast) and the Baltimore Inner Harbor (6 blocks east). The Camden MARC and Lightrail station is one-half mile southeast. According to Baltimore Cityview, the property is within the Ridgely’s Delight CHAP Historic District, which may provide tax incentives in conjunction with the renovation of the building.

For more information, please see:
https://livebaltimore.com/neighborhoods/ridgelys-delight/
https://www.umaryland.edu/
http://cityview.baltimorecity.gov/
https://chap.baltimorecity.gov/historic-districts

SITE:
Rectangular lot – 19’6″ x 70′, more or less

All public utilities

Zoning R-8, residential, two dwelling units

For more information, see the Baltimore City Zoning Code.

IMPROVEMENTS:
Three story brick end-of-group building – the building was constructed in 1900, contains 2,957 square feet of living area and 995 square feet of basement space, according to public tax records. The home is arranged for two dwelling units, with multiple exterior entrances, wood windows, two electric meters, two gas meters and enclosed brick courtyard or storage area. The interior has been mostly gutted, and is in need of renovation.

The lower level unit comprises the first floor and a portion of the second floor, and is arranged for two rooms, kitchen and two baths. The basement may be suitable for finishing for additional living space.

The upper unit comprises a portion of the second floor and the third floor, and is arranged for four rooms, kitchen and bath.

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

TAXES:
Published annual real estate taxes are $1,829, based on a full value assessment of $77,500.

SUMMARY TERMS OF SALE:
Please see contract of sale for complete terms.
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 on or before Tuesday, April 23, 2019. 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, 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 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. 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. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.