"Southeast Baltimore - Baltimore Highlands"

 ONLINE REAL ESTATE AUCTION 

$50,000 Suggested Opening Bid

MIXED-USE BUILDING
– Arranged for Storefront and 2 Apartments –

Known As
122 S. HAVEN STREET
Near E. Lombard Street
Baltimore City, MD 21224

BIDDING OPEN:
MONDAY, APRIL 13, 2020

BIDDING CLOSE:
THURSDAY, APRIL 16, 2020 AT 12:00 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:
122 S. Haven Street is located in the Baltimore Highlands neighborhood in southeast Baltimore City. Surrounding neighborhoods include Patterson Park, Highlandtown, Kresson and Orangeville. Baltimore Highlands is conveniently situated a short distance west of Johns Hopkins Bayview, east of Johns Hopkins East Baltimore campus, and within a short distance of both I-895 and I-95. The well positioned neighborhood is both convenient and well demanded for housing. Surrounding properties include apartments, single family homes, retail business and offices.

For more information about the area, please visit:
Baltimore Highlands – livebaltimore.com
GIS Traffic Count Data – www.roads.maryland.gov
cityview.baltimorecity.gov

SITE:
Lot size – 13′ x 79’6″

ZONING:
The property is zoned I-1: Light Industrial, approved for storefront and dwelling unit. According to the Baltimore City Transform Zoning District Summary, I-1 zoning applies to “Light manufacturing, fabricating, processing, wholesale distributing and warehousing uses.”

For more information about Baltimore City Zoning, please visit:
Zoning – dhcd.baltimorecity.gov

IMPROVEMENTS:
Two story inside-group building – constructed in 1920, containing 1,547 square feet above grade and 546 square feet of basement space, according to public tax records. Arranged for a storefront and two dwelling units. Total rent is $2,441/month. Please see leases for rental amounts and terms. 

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

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

TAXES:
Published annual real estate taxes are $2,537.00, based on a full value assessment of $107,500. 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: Assessment Appeal Process.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $5,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, within 24 hours of Thursday, April 16, 2020 at 12:00 P.M. (the bid closing). 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. Purchaser assumes the risk of loss from the date of contract forward. Purchaser waives 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 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.