"Brewer's Hill"

Three Story Brick Commercial Building
Convenience Store, Apartment, 7 Rooming Units, 4-6 Car Parking
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Listing Details

Sold Price
$180,000
Auction Date
Auction Time
2:00 PM
Address
4023 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
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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W. Scott Tinney, Solicitor
Cohen and Forman, LLC, Solicitors
334 St. Paul Place
Baltimore, MD 21202

MORTGAGEE'S AUCTION

BREWER'S HILL

Three Story Brick
COMMERCIAL BUILDING
First Floor Convenience Store
Apartment, 7 Rooming Units
4-6 Car Parking in Rear

Sale On Premises
4023 EASTERN AVENUE
Opposite Walgreen's
Off 500 S. Haven Street
Baltimore, MD 21224

THURSDAY, DECEMBER 3, 2015
AT 2:00 P.M.

    Under and by virtue of the power of sale contained in the Purchase Money Mortgage from 4023 Eastern Avenue, LLC and Stephen J. O'Krepky to the undersigned Mortgagee, dated July 30, 2001 and recorded among the Land Records of Baltimore City in Liber 1667, page 230, subsequently modified on June 29, 2011 as recorded among the Land Records aforesaid in Liber 13841, page 203, default having occurred under the terms thereof, the undersigned Mortgagee will sell at public auction, on the premises:

    All that fee simple lot of ground and the improvements thereon, situate and lying in Baltimore City, State of Maryland and being more fully described in the above-referenced mortgage.

    The property is improved by a three story in-line commercial building.  According to public tax records, the building was constructed in 1900 and contains 4,144 square feet of gross building area.  The structure has a commercial storefront, a second entrance for upper level residential units, steel fire escape, replacement windows, built-up roof, vinyl siding in rear and concrete four to six car parking pad.  The first floor contains a convenience store with gas heat and central air conditioning.  The second floor is believed to contain an apartment and two rooming units; five rooming units on the third floor.  Lot size 20' x 140', more or less.  The property is believed to be zoned B-2, commercial.

    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.

    TERMS OF SALE:  A $10,000 deposit, payable by certified check or 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.  The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore City at the offices of Cohen and Forman, LLC.  If payment of the 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 stated in the foreclosed Mortgage, from date of sale to date of settlement.  If settlement is delayed for any reason, there will be no abatement of interest.  All adjustments as of date of sale.  Taxes and all other public charges and assessments payable on a monthly or annual basis, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale 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 shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward.  The purchaser waives and releases the Mortgagee, the Solicitors, 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 Mortgagee 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 Mortgagee, the Solicitors, the holder of the indebtedness or Auctioneers.  Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser.  Time shall be of the essence for the purchaser.

    Authority to cancel this sale rests solely with the Solicitors and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Mortgagee reserves: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.

    NOTE: 4021 EASTERN AVENUE, THE ADJACENT TWO STORY STOREFRONT AND APARTMENT BUILDING, WILL BE SOLD IN A SEPARATE OFFERING IMMEDIATELY AFTER THIS AUCTION. See the web page for details.

No Buyers Premium

Terrence N. Daniel, Mortgagee