"Brewer's Hill"

Two Story Brick Commercial Building
Retail Space & Apartment, 2 Car Parking
100% Leased, $1,625 Monthly Rent
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Listing Details

Sold Price
$100,000
Auction Date
Auction Time
2:00 PM
Address
4021 Eastern Avenue, Baltimore, MD, 21224
County
Baltimore City
Neighborhood
Brewer's Hill
Inspection
The property will be open for inspection one hour before the auction. No prior inspection.
Additional Documents
Lease for First Floor
Lease Addendum
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
- $75,000 Suggested Opening Bid -

BREWERS HILL

Two Story Brick
COMMERCIAL BUILDING
Retail Space & Apartment, 2 Car Parking
100% Leased ◆ $1,625 Monthly Rent

Sale On Premises
4021 EASTERN AVENUE
Opposite Walgreen’s
Off 500 S. Haven Street
Baltimore, MD 21224

THURSDAY, DECEMBER 3, 2015
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.

LOCATION:
4021 Eastern Avenue is located in the "Highlandtown-Brewers Hill” area of eastern Baltimore City, between the 500 blocks of S. Grundy Street and S. Haven Street.  The property is about one-half mile west of the Johns Hopkins Bayview hospital complex, situated between "Greektown" and "Canton."  The property is located along the south side of the community business district.  Public bus service is at the door.  A recently constructed Walgreen's drug store is opposite the site.

Link to LiveBaltimore description:
http://livebaltimore.com/neighborhoods/brewers-hill

SITE:
Rectangular lot - 12' x 140', alley in rear
Two-car concrete parking pad
All public utilities
MTA bus stop at the door
Zoned B-2-3, commercial

IMPROVEMENTS & OCCUPANCY:
Two Story Brick In-Line Storefront Building - according to published tax records, the building was constructed in 1900.  The structure is believed to contain approximately 1,800 square feet of gross building area above grade and approximately 360 square feet of basement space.  The building has an updated commercial storefront, replacement windows, a built-up roof and vinyl sided rear.

First Floor - retail space leased to a driving school for $950/month under a five year lease which began in August 2015.  The unit contains 3 rooms and a rest room.  Updated heat pump and central air conditioning.  Tenant splits water bill and has a separate electric meter.

Copy of Lease

Lease Addendum

Second Floor - one bedroom apartment rented for $675/month to a tenant of more than 20 years on a month-to-month basis.  MDE lead certification for full risk reduction.  Gas hot water heat.  Tenant pays the gas bill, one-half of the water bill and has a separate electric meter.

Copy of MDE Inspection Certificate

Unfinished basement

TITLE:
The property is in fee simple and sold free and clear of liens.  Baltimore City Deed Liber 2952-497.

TAXES:
Published annual real estate taxes are $2,146.77 for 2015.

INSPECTION:
The property will be open for inspection one hour before the auction.  No prior inspection.

TERMS OF SALE:
A $7,500 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.  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.  The property will be sold in "AS IS" condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any, subject to the existing lease and subject to the rights of the tenants in possession.  Purchaser assumes the 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.  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.

    The adjacent building at 4023 Eastern Avenue will be sold at auction immediately before this property.  See the web page for details.