Email: info@ajbillig.com
6500 Falls Road, Baltimore, MD 21209
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REAL ESTATE AUCTION
“Americana Centre Condominium”
3 – INCOME PRODUCING
CONDOMINIUM UNITS
– $75,900/Year Gross Scheduled Income –
Known As:
16 MONROE STREET #102
2 Bedrooms ✦ 2 Baths ✦ $1,675/Month Rent
– Suggested Starting Bid: $85,000 –
16 MONROE STREET #302
3 Bedrooms ✦ 2 Baths ✦ $2,325/Month Rent
– Suggested Starting Bid: $150,000 –
&
110 MONROE STREET #201
3 Bedrooms ✦ 2 Baths ✦ $2,325/Month Rent
– Suggested Starting Bid: $150,000 –
Sale To Be Held:
16 Monroe Street
Rockville, Montgomery County, MD 20850
FRIDAY, SEPTEMBER 20, 2019
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:
The units are located in the Americana Centre Condominium in the Rockville area of Montgomery County. The condominium complex is comprised of a collection of garden style buildings and two high rise buildings situated off of Monroe Street, directly across from the Rockville Metro Station. Rockville Town Center is located one block away and includes many dining, retail and community services. The town center hosts weekly events including yoga, salsa dancing, concerts and a farmers market. Some dining options at Rockville Town Center include Panera Bread, Buffalo Wild Wings, Kabuto Sushi & Hibachi and many more. The Rockville Memorial Library is located one half mile away. Nature enthusiasts can enjoy the Croydon Creek Nature Center, located one and one half miles west of the condominium complex, for scenic recreational activities. According to the Montgomery County Public Schools Assignment Tool, nearby schools are Beall Elementary School, Julius West Middle School and Richard Montgomery High School. Julius West and Richard Montgomery are magnet schools, and offer the prestigious IB program.
For more information about the area, please visit:
https://www.montgomerycountymd.gov/
https://www.montgomeryschoolsmd.org/
https://www.rockvillemd.gov/380/Croydon-Creek-Nature-Center
COMMUNITY:
The units are located within the Americana Centre Condominium. Amenities include community pool, assigned lot parking and garage parking, laundry facilities, 24 hour front desk staff, sauna area and a car washing area. Monthly condominium fees include all utilities, in addition to exterior building maintenance, common area maintenance, snow removal and trash removal. Condominium Resale Package (Unit 102).
IMPROVEMENTS:
The three units are lead free. Each unit has an assigned parking spot.
16 Monroe Street #102
16 Monroe Street #302
110 Monroe Street #201
ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the leases, MDE lead inspection certificates, and income & expense information.
TAXES:
Current annual real estate taxes are:
| Property | Annual Tax | Assessment |
| 16 Monroe Street #102 | $2,656 | $200,000 |
| 16 Monroe Street #302 | $3,438 | $260,000 |
| 110 Monroe Street #201 | $3,438 | $260,000 |
TITLE:
In fee simple; sold free and clear of all liens
MANNER OF SALE:
The properties will be offered separately and as an entirety, and sold in the manner producing the greatest result.
SUMMARY TERMS OF SALE:
Please refer to the contract of sale for complete terms and conditions. A $5,000 deposit on each property, or $15,000 if sold as an entirety, payable by certified check or 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 12:00 Noon, Monday, September 23, 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. All adjustments, including taxes, condominium fees, ground rent, 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 deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, subject to the Declaration and By-Laws of the Americana Centre Condominium Association and subject to the leases of the tenants in place. The Purchaser agrees to waive their right of rescission under Maryland Condominium Law, having received and reviewed the condominium resale package. 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.
NO BUYER’S PREMIUM
