"Southwest Baltimore - Mount Clare Neighborhood"

 REAL ESTATE AUCTION 

$75,000 Suggested Opening Bid

“Mount Clare” Neighborhood

One Story Masonry
WAREHOUSE BUILDING
5,994± Sq. Ft. ◆ Drive-in & Dock Loading
AND 8 GARAGES

Sale On Premises
1616 COLE STREET
& 412 S. VINCENT STREET
Baltimore, MD 21223

TUESDAY, DECEMBER 3, 2019
AT 11:00 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:
1616 Cole Street is located one block north of Carroll Park in southwestern Baltimore City. The surrounding area is a mixture of residential, commercial and industrial land uses. The neighborhood has good access to I-95, Baltimore-Washington Parkway (MD-295) and the Baltimore Beltway (I-695).

SITE:
Two contiguous lots, fronting 78′ along the north side of Cole Street by 128′ along the west side of Vincent Street, comprising approximately 9,308 square feet of land. The site is entirely paved and improved by buildings.

All public utilities are available.

Zoning R-5, residential. The property was located in an industrial zoning district prior to the Transform Baltimore re-zoning in 2017. Application has not been made to have the industrial zoning restored.

IMPROVEMENTS:
1616 Cole Street – One Story Concrete Block Warehouse Building, built in 1950 and containing 5,994 square feet of gross building area, according to public tax records. The building has a rubber roof, three drive-in doors, loading dock, two pedestrian doors and vinyl-clad double hung windows in the front elevation. The roof is supported by steel beams, approximately 12′ – 14′ high. The structure is divided into a large clear-span front room, middle storage room, three smaller rooms in the rear, and a rest room; 200 ampere electrical panel; two overhead gas space heaters. The building is currently vacant.

412 S. Vincent Street – One Story Concrete Block Building, constructed in 1920, containing 1,444 square feet of gross building area, according to public tax records. The building has a rubber roof, four front-facing and four rear-facing garages with wooden doors. Garages are 100% occupied. Current monthly rentals are $480. Tenancies are month-to-month.

TAXES:
Published annual real estate taxes are as follows.

TITLE:
The properties are in fee simple and sold free and clear of liens. Baltimore City Deed Book 20538, Page 23 and Book 20494, Page 426.

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, 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 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. The property is sold subject to the rights of the existing tenants in possession, 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. Time is of the essence.

No buyer’s premium.