REAL ESTATE AUCTION
$375,000 Suggested Opening Bid
c.1889 Queen Anne Style
7 Units – 86% Occupancy
– $73,248 Gross Scheduled Annual Rent –
Sale On Premises
1933 SAINT PAUL STREET
Corner E. 20th Street
Baltimore City, MD 21218
WEDNESDAY, JANUARY 17, 2018
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.
1933 St. Paul Street is located in the Barclay neighborhood in central Baltimore City, and is within both the Station North Arts & Entertainment District and Old Goucher College National Historic District. Proximity to the Maryland Institute College of Art (MICA), University of Baltimore, Penn Station and the Maryland State designation as an Arts & Entertainment District, have fostered substantial changes in the area over the last several years. New education buildings, retail developments, multi-unit residential development, new home construction and renovations of existing buildings are all nearby. Amtrak has very recently selected a team to lead the 1.6 million square foot redevelopment of Penn Station and surrounding properties, which is within four blocks of the property. The expansive project is slated to include a hotel, expanded and improved retail and expanded traveler amenities, all aimed at revitalizing one of Baltimore’s most important transportation cornerstones. The newly redeveloped Parkway Theatre and JHU-MICA Centre Theatre are also within a few blocks.
For more information about the area, please see:
For more information about the Penn Station redevelopment, please visit:
Rectangular lot – 21′ x 95′, more or less
All public utilities
Zoning R-8, residential, registered for 7 dwelling units. For more information, see the Baltimore City Zoning Code.
Three and One-Half Story Brick End-of-Group Queen Anne Style Building – the building was built in 1889, contains 5,775 square feet of living area and 2,100 square feet of basement space, according to public tax records.
Flat, built-up roof
Cornice, pediment and brick architectural detail
Turret with conical roof and dentil molding
Bow window column
Wood double-hung and vinyl replacement windows
Steel fire escape
Entrances on St. Paul and E. 20th Streets
The building contains 7 apartment units with a variety of floor plans and features. The unit mix includes a two bedroom apartment, five one-bedroom apartments and a studio. Individual unit features include hardwood floors and tile floors, central air conditioning, updated kitchens and in- unit laundry. Please see the rent roll in the due diligence package for a breakout of unit features and layouts.
The building is 86% occupied (6 of 7 units), with gross scheduled monthly rents of $6,104, and $73,248 annually.
For copies of the leases, rent roll, lead certificates, income & expense report, dwelling license, and other documents, please fill out a Waiver and Confidentiality Agreement, sign it, and return it to the office of the Auctioneer by fax to 410-296-4420 or email firstname.lastname@example.org. Once the completed form has been received, you will receive the confidential information via email. Requests are normally answered Monday-Friday 9 am-4 pm.
In fee simple; sold free and clear of all liens
Published annual real estate taxes are $8,290.68, based on a full value assessment of $351,300.
A $40,000 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 on or before Friday, March 2, 2018. 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. The purchaser agrees to waive 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 to be added to the final bid price.