"Woodlawn"

Three Unit Apartment Building
- Fully Occupied -
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Listing Details

Sold Price
$62,500
Auction Date
Auction Time
1:05 PM
Address
6502 Windsor Mill Road, Woodlawn, MD, 21207
County
Baltimore County
Neighborhood
Woodlawn
Inspection
30 minutes prior to the sale.
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

WOODLAWN

THREE UNIT
APARTMENT BUILDING
- Fully Occupied -

Sale On Premises
6502 WINDSOR MILL ROAD
Near Woodlawn Drive
Baltimore County, MD 21207

TUESDAY, DECEMBER 1, 2015
AT 1:05 P.M.

- Suggested Opening Bid: $40,000 -

    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:
6502 Windsor Mill Road is located in the Woodlawn area of Baltimore County, between the Baltimore City line and the Baltimore Beltway (I-695). The Woodlawn Village center is approximately one block to the southeast, and features restaurants, service businesses, professional offices, religious facilities and county services. The Social Security Administration complex is within one mile. The fully rented property is situated in a location convenient to major employers, major commuter routes and shopping districts, making the income property ideally situated for years to come.

SITE:
Rectangular lot - 75' x 290.4', or 0.5 acre, more or less

Zoned DR 5.5 Residential
Note: No warranties or representations are made with respect to the number of units approved in the building. Purchasers are encouraged to visit Baltimore County Zoning to confirm details of property occupancy and use.

Rental Housing Licenses

Gravel driveway and rear parking area

Public water and sewer

IMPROVEMENT DESCRIPTION:
Two story building - according to public tax records, the building was constructed in 1920, contains 1,838 square feet of living area and 776 square feet of basement space. The property is arranged for three apartment units.

First floor front - Arranged for 3 rooms, kitchen and bath. Rented for $700/month on a one year lease through December 1, 2015, and month to month thereafter. Lease

First floor rear - Arranged for 2 rooms, kitchen and bath. Rented for $475/month on a month to month lease. Long term tenant. Lease

Second floor - Arranged for 4 rooms, kitchen and bath. Rented for $399/month on a month to month lease. Long term tenant. Lease

Total Rent: $1,574/month. Rents may be below market, providing opportunity for increased income.  

ANNUAL REAL ESTATE TAXES:
Published annual real estate taxes are $2,742 based on a full value assessment of $143,900.  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 property is in fee simple and is being sold free and clear of all liens.

INSPECTION:
30 minutes prior to the sale.

TERMS OF SALE:
A $5,000 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.  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, 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, 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.  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.

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