$25,000 Suggested Opening Bid
– Arranged for 2 Dwelling Units-
~One Unit Currently Rented for $500/Month~
3312 SOUTHERN AVENUE
Off Walther Avenue
Baltimore, MD 21214
THURSDAY, JUNE 4, 2020
MONDAY, JUNE 8, 2020 AT 2:00 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.
3312 Southern Avenue is located in the Waltherson neighborhood of northeast Baltimore City. Surrounding neighborhoods include Frankford, Moravia-Walther and Lauraville. As one of the largest neighborhoods in the City, Waltherson is mainly made up of single family homes, detached homes and duplexes. The neighborhood is very family friendly, most homes have large yards and are located within walking distance to parks and trails – Lake Montebello is within 1.5 miles. The property is conveniently located off of Harford Road, a major thoroughfare with dining, retail and entertainment options. The Lauraville Main Street Corridor is home to a number of Baltimore’s best known businesses, including Koco’s Pub, Zeke’s Coffee and the Silver Queen Café. The Hamilton – Lauraville Main Street Association sponsors a number of events throughout the year, including the Hamilton Street Festival, First Fridays, Student Art Show and Downhill Derby. Commuters can take advantage of both Harford Road and Belair Road for convenient north/south travel and Cold Spring Lane for east/west travel. Public transportation is along Harford Road. Southern Avenue is a quiet residential street with ample on-street parking.
Lot comprises 0.149 acre
All public utilities
Zoning R-3, residential, approved for 2 dwelling units
Two story home with attached garage, built in 1942, comprising 2,088 square feet of living area and 976 square feet of basement space, according to public tax records. The home is currently arranged for two dwelling units.
Exterior – wood shingle exterior with a covered front porch and vinyl replacement windows.
Please complete a Waiver and Confidentiality Agreement form to view the lease.
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Book 3166, Page 64.
Published annual real estate taxes are $4,173 based on a full value assessment of $170,200. 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 see the contract of sale for complete terms.
A $2,500 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 Monday, June 8, 2020 at 2:00 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. 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, 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, and subject to te rights of the existing tenant. 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.