"South Baltimore - Federal Hill Area"

 REAL ESTATE AUCTION 

$125,000 Suggested Opening Bid

“Federal Hill Area”

THREE STORY TOWNHOME
– Needs Renovation –

Sale On Premises
1642 S. CHARLES STREET
Baltimore, MD 21230

WEDNESDAY, SEPTEMBER 18, 2019
AT 1:00 P.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:
1642 S. Charles Street is located in desirable area of South Baltimore, just south of the Federal Hill historic district. The surrounding neighborhood is a mixture of housing, community parks and local businesses, providing an opportunity to live, work and play in the same community.

As described by LiveBaltimore.com, “Approximately 1,900 households comprise South Baltimore, which spans south from Cross Street to McComas Street and east from Race Street to Light Street. Bordering Federal Hill, Riverside, and the Middle Branch of the Patapsco River and encompassing much of the Federal Hill entertainment and business district, South Baltimore boasts many urban amenities as well as easy access to I-95 (just 15 minutes to BWI-Marshall Airport). With its diverse and welcoming population and with the Inner Harbor, the Ravens’ and Orioles’ stadiums, MARC station, Light Rail, supermarkets, and historic Fort McHenry just a short walk away, South Baltimore offers the best of safe, convenient city living. South Baltimore’s vibrant community includes singles, families, and empty nesters. Many residents have lived here their whole lives, and many others have arrived in the past decade or even more recently. South Baltimore neighbors, whether they are young or old, of modest means or affluent, new to the neighborhood or lifers, share a community that combines Baltimore comfort and charm with nearby convenience and entertainment, such as the stadium complex and the Inner Harbor, as well as many benefits right here in SOBO. SOBO kids can attend two highly-rated public schools, Federal Hill Prep and Thomas Johnson Elementary and Middle School. We host a library branch on Light Street, the newly renovated Swann Park, an active recreation center, and a public pool at nearby Riverside Park. South Baltimore is a safe neighborhood for kids and their parents. SOBO adults enjoy the historic Cross Street Market, a year-round variety of street festivals and block parties, and the many shops and services of the business district. With walkable streets, several bus routes (including the Purple Line of the Charm City Circulator), neighborhood-based Zip Cars, and easy access to the MARC train and Light Rail, getting around is incredibly easy. The residents of South Baltimore are served by the South Baltimore Neighborhood Association (formally organized as the South Baltimore Improvement Committee). The SBNA has proudly led the revitalization of the neighborhood while protecting it from rampant gentrification. The resulting balance has created a harmonious diversity that is a hallmark of the South Baltimore community.”

SITE:
Rectangular lot 12′ x 80′
Zoning R-8, single family residential
All public utilities
Fenced rear courtyard

IMPROVEMENTS:
Three Story Brick Inside-Group Townhome – according to public tax records the home was built in 1900, contains 1,656 square feet of living area and 588 square feet of basement space.

Exterior – brick facade, built-up roof, vinyl-clad double-hung replacement windows, brick foundation

Interior – Wood floors throughout. Home needs complete rehabilitation.
First Floor – living room, dining room, kitchen
Second Floor – 2 bedrooms and bath
Third Floor – 2 bedrooms, balcony
Lower Level – arranged for a 3 room apartment
Basement – unfinished

TITLE:
The property is sold free and clear of liens, subject to an annual $60 ground rent, payable on the 12th days of February and August in each and every year. Baltimore City Deed Book 21344, Page 304.

TAXES:
Published annual real estate taxes are $5,619, based on a full value assessment of $238,100. Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE:
Please see the 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 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, 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. 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.