"Sandtown - Winchester"

ONLINE REAL ESTATE AUCTION

THREE STORY DUPLEX
– Currently Rented for $1,390/Month –

Known As
1432 N. FULTON AVENUE
Near Presstman Street
Baltimore City, MD 21217

BIDDING OPENS:
WEDNESDAY, MAY 19, 2021

BIDDING CLOSES:
FRIDAY, MAY 21, 2021 AT 11:00 A.M.

– Starting Bid: $40,000 –

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:
The property is located in West Baltimore in the Sandtown-Winchester neighborhood, generally referred to as Sandtown. Surrounding neighborhoods include Harlem Park, Upton, Druid Heights, Penn North and Easterwood. Sandtown is located along US-40, providing good access to the Metro (Penn North and Upton Stations within 1 mile), West Baltimore MARC station (1.1 miles southwest), Downtown (2.5 miles east), and the Baltimore Beltway (I-695, 5.7 miles west). Sandtown, and the surrounding neighborhoods, have been the subject of a number of revitalization efforts over the past few decades, including those featured in recent Baltimore Sun articles linked below. The CityView website shows the property as being located within the Old West Baltimore Historic District, and as being historic tax credit eligible.

For more information about the area, please visit:

Sandtown-Winchester – livebaltimore.com

CityView – cityview.baltimorecity.gov

Baltimore Sun Article regarding Upton – www.baltimoresun.com

Baltimore Sun Article regarding Acme Business Complex – www.baltimoresun.com

SITE:
Lot size – 14′ x 80′, more or less. Plat

All public utilities

Zoned R-8 Residential – 2 Dwelling Units

IMPROVEMENTS:
Three story inside-group brick duplex – constructed in 1900, according to public tax records, and believed to contain approximately 2,000 square feet of living area plus basement space. The building is arranged for two units, with separate gas and electric meters, and common interior entry. The total rent for the two units is $1,390/month, or $16,680 per year.

Unit 1 – First Floor – Rented for $775/month – Arranged for a living room (laminate floor), kitchen (ceramic tile floor), full bath (ceramic tile, shower/tub) and bedroom (laminate floor), gas forced air heat, gas water heater. Current lead certificate.

Unit 2 – Second and Third Floors – Rented for $615/month (since 2017) – Arranged for dining room (wood floor), kitchen (laminate floor), full bath (ceramic tile), and 4 bedrooms (wood floors), gas forced air heat, gas water heater.

ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the leases and lead certificate.

TITLE:
Annual $75 ground rent (due in semi-annual installments on 4/1 & 10/1); sold free and clear of liens.

TAXES:
Published annual real estate taxes are $401.20, based on a full value assessment of $17,000.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
Ten percent (10%) of the Purchase Price, 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 Friday, May 21, 2021 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. 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 deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases 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. 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. A 5% Buyer’s Premium to be added to the final bid price.