"Mid-Town Belvedere" Apartment Building

6 Self-Contained Units - Certified Lead-Free Building, $55,680 Gross Annual Income
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Listing Details

Sold Price
$365,000
Auction Date
Auction Time
11:00 AM
Address
849 Park Avenue, Baltimore, MD, 21201
County
Baltimore City
Neighborhood
Mid-Town Belvedere
Inspection
Property will be open for inspection at 10:00 a.m. on the day of the auction only.
Additional Documents
Please complete, sign and return the Waiver and Confidentiality Agreement (see above link). After we received the signed form, we will email you the following documents: Rent Roll, Financial Statement and Leases.
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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REAL ESTATE AUCTION

MID-TOWN BELVEDERE

APARTMENT BUILDING
★ 6 Self-Contained Units ★
Certified Lead-Free Building

$55,680 Gross Annual Income

Sale On Premises
849 PARK AVENUE
Near Corner of 200 W. Read St.
Baltimore City, MD 21201

WEDNESDAY, JULY 30, 2014
AT 11:00 A.M.

    NOTE:  The information contained herein has been obtained from sources deemed reliable and believed to be accurate.  However, no express or implied warranty is made as to the accuracy of these representations.  All dimensions contained herein are more or less.  

GENERAL INFORMATION

LOCATION:
849 Park Avenue is located in the Mid-Town Belvedere neighborhood of Baltimore City,  just north of Mt. Vernon.   Within several blocks are The Joseph Meyerhoff Symphony Hall, Hippodrome Theatre, Lyric Opera House, Walters Art Museum, Mt. Vernon Place and the Washington Monument.   Penn Station is within a five minute walk to the north and the light rail station is just several blocks to the west.  Demand for apartments in the area is extremely high with numerous learning institutions nearby including, Maryland Institute College of Art (MICA), University of Baltimore Law School, University of Maryland Medical School and Johns Hopkins University. There is an abundance of eateries, bars and stores within several minutes walk.
 
For more information about the Mid-Town Belvedere neighborhood, visit:
http://livebaltimore.com/neighborhoods/mid-town-belvedere/#.U7LxCpRdVrM

SITE:
Irregularly shaped lot fronting 17'4" along Park Avenue, with depths of 72'11" and approximately 48' and a rear lot line of 34', all more or less.

Public water and public sewer

IMPROVEMENT DESCRIPTION:
Brick three story end-of-group apartment building, reportedly constructed in 1900 (according to SDAT tax records.).   The building has six apartment units and a laundry room.  All of the apartment units have their own gas forced hot air furnaces (Unit 5 has central air conditioning), 4-burner electric range/ovens and refrigerators. Some of the units have been completely renovated and others need cosmetic repairs and updating.   The units are described as follows:

 

Sample Interior Photos:

 

Unit 1 (Lower Level)

  • Living Room
  • Kitchen/Den
  • Bedroom
  • Full Bathroom
  • Hardwood flooring and carpeting

Unit 2 (First Floor Front)

  • Main Room
  • Kitchen
  • Full Bathroom
  • Hardwood flooring

Unit 3 (First Floor Rear)

  • Main Room
  • Kitchen
  • Full Bathroom - (shower stall)
  • Hardwood flooring

Unit 4 (Second Floor Front)

  • Living Room with artificial fireplace
  • Kitchen
  • Bedroom
  • Full Bathroom
  • Hardwood flooring

Unit 5 (Second Floor Rear - Recently Renovated)

  • Living Room with ceiling fan
  • 2  - Additional Rooms
  • Kitchen
  • Full ceramic tile bathroom
  • Cherry laminate flooring

Unit 6 (Third Floor Rear - Recently Renovated)

  • Living Room with ceiling fan
  • Dining Room with ceiling fan
  • Bedroom with ceiling fan
  • Kitchen
  • Full bathroom
  • Hardwood flooring


Basement Laundry/Utility Room

  • Coin operated washer and dryer

Mechanical

  • Separate gas forced hot air furnaces for each unit (Unit 5 has a new furnace and central air conditioning)
  • 7 gas and 7 electric meters
  • Recently installed common 80 gallon gas fired water heater

ANNUAL REAL ESTATE TAXES:
2014-2015 Annual Real Estate Taxes - $4.067.86

TITLE:
Subject to an annual $90 ground rent, payable in semi-annual installments on the 25th days of February and August each and every year.  The property is being sold free and clear of all liens.

RENTAL INFORMATION:

  • Unit 1 - $710/month, lease ending 2/28/2015
  • Unit 2 - $605/month, lease ending 10/31/2014
  • Unit 3 - $675/month, lease ending 5/31/2015
  • Unit 4 - $635/month, lease ending 9/30/2014
  • Unit 5 - $995/month, lease ending 5/31/2015
  • Unit 6 - $1,020/month, lease ending 4/30/2015

Tenants are billed on a quarterly basis their pro-rata share of water and sewer charges (in addition to the rent).

ZONING:
B-4-2, Central Business District - permitting 6 dwelling units.  Check with the Baltimore City Office of Planning and Zoning for complete potential and permitted uses for the property (410-396-4126) or visit: http://www.baltimorecity.gov/Portals/0/Charter and Codes/Code/Art 00 - Zoning.pdf

TERMS OF SALE:
Deposit payable by certified or cashier's check of $25,000 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 office of the Auctioneers.  Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the balance of the deposit and balance of the purchase price does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Taxes, ground rent and all other public charges and assessments, payable on an annual basis, including 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. The property will be sold in "AS IS" condition, without express or implied warranty as to the nature and description of the improvements as contained herein;  and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes risk of loss from the date of sale 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 Auctioneer. The purchaser agrees to waive the right of inspection for lead paint as provided under current Federal and State Law. 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 BUYERS PREMIUM!