"Northeast Baltimore - Arcadia"

Semi-Detached Rental Property
9057.jpg

Listing Details

Sold Price
$21,000
Auction Date
Auction Time
1:15 PM
Address
3905 Eierman Avenue, Baltimore, MD, 21206
County
Baltimore City
Neighborhood
Northeast Baltimore, Arcadia
Additional Documents
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description and Terms of Sale.

REAL ESTATE AUCTION

NORTHEAST BALTIMORE

"Arcadia"

3 Semi-Detached
RENTAL PROPERTIES
- Two Occupied & One Vacant -

Sale On Premises
3902, 3904 & 3905
EIERMAN AVENUE
Baltimore City, MD 21206

THURSDAY, DECEMBER 17, 2015
AT 1:15 P.M.

- Suggested Opening Bids: $10,000 -

    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:
3902, 3904 & 3905 Eierman Avenue are located in the Arcadia neighborhood in northeast Baltimore City. Arcadia is situated between Belair Road and Harford Road, south of Moravia Road. The neighborhood is just north of Herring Run Park, which features walking trails, ball fields and other recreational facilities. Shopping and dining are along both Belair and Harford Roads. I-95 and I-895 are easily accessible via Moravia Road.

The properties are located at the end of a cul-de-sac, which features two clusters of townhomes and 4 pairs of semi-detached homes. 3902 and 3905 Eierman Avenue are each arranged as two units, with tenants paying $500/month, and a total of $1,000/month for each property. 3904 Eierman Avenue is currently vacant, but was formerly rented. Properties all have received MDE lead certificates. The auction represents a great opportunity to buy one or multiple income properties in one location.  

SITE:
3902 - 15'4" x 87', more or less
3904 - 14'9" x 123'5", more or less
3905 - 15' x 103'11"

Zoned R-7, residential. 3902 and 3905 are zoned for two dwelling units.

Alley access and rear parking

All public utilities

IMPROVEMENT DESCRIPTION:
3902 Eierman Avenue:
Two story brick semi-detached home with covered porchfront - according to public tax records, the home was constructed in 1963, contains 1,280 square feet of living area and 640 square feet of basement space. The property is arranged for two dwelling units, each containing 2 rooms, kitchen and bath. Each unit is rented for $500/month, totaling $1,000/month.

Leases: Unit 1  and  Unit 2

MDE Lead Certificate

3904 Eierman Avenue:
Two story brick semi-detached home with covered porchfront - according to public tax records, the home was constructed in 1963, contains 1,280 square feet of living area and 640 square feet of basement space. The home is arranged as follows: living room, dining room, kitchen with walk-out, on the first floor; 3 bedrooms and ceramic tile bath, on the second floor; full basement; gas hot water heat. The home is in need of cosmetic repair.

MDE Lead Certificate

3905 Eierman Avenue:
Two story brick semi-detached home with covered porchfront - according to public tax records, the home was constructed in 1963, contains 1,152 square feet of living area and 576 square feet of basement space. The property is arranged for two dwelling units, each containing 2 rooms, kitchen and bath. Unit 2 is rented for $500/month; unit 1 is vacant.

Lease: Unit 2

MDE Lead Certificate

ANNUAL REAL ESTATE TAXES:
Published annual real estate taxes for each property are $1,652, based on the full value tax assessment of $70,000.  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: http://www.dat.state.md.us/sdatweb/appeal.html

TITLE:
The properties are in fee simple; and are being sold free and clear of all liens.

INSPECTION:
At 12:45 p.m. on the day of the auction only

TERMS OF SALE:
A $2,500 deposit, for each property, 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.  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. 3904 Eierman Avenue - Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement.  All adjustments, including taxes, 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 sale and assumed thereafter by the Purchaser.  3902 & 3905 Eierman Avenue - All adjustments as of the date of settlement. All properties - will be sold in "AS IS" condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any.  Purchaser assumes the risk of loss from the date of sale forward.  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.  Time is of the essence.

No Buyer's Premium!