Real Estate Auction
- INVESTMENT PROPERTY -

"Mt. Vernon Historic District"

WELL KNOWN RESTAURANT
& APARTMENT BUILDING


$86,892 Gross Annual
Rentals At Current Occupancy

FRONT     INTERIOR     AERIAL PHOTO

Sale On Premises
918-922 N. CHARLES STREET
Between Read & Eager Streets
Baltimore, MD 21201

WEDNESDAY, JUNE 1, 2005
AT 2:00 P.M.


General Information

LOCATION:

918-922 N. Charles Street is situated in the vibrant Mt. Vernon Historic District, north of W. Read Street and South of W. Eager Street. The site is within walking distance of the University of Baltimore, Maryland Institute College of Art and Baltimore's Cultural Arts District. Several surface parking lots are within one block of the site and metered on-street parking is permitted on Charles Street.

For a neighborhood profile, see:
http://www.livebaltimore.com/nb/list/mtvern/

LOCATION MAP

BUILDING:

Four-story brick storefront building is 100% leased and occupied by Mughal Garden Restaurant and 4 self-contained apartment units. Building features high ceilings, original hardwood, plaster, mouldings, trim, and updated systems. Each unit has a separate utility meters and gas forced hot air furnace. The restaurant and fourth floor unit have central air conditioning. Additional features include a steel fire escape, security intercom and separate entrances for the apartments and commercial space. The first floor restaurant space includes a paneled bar, coat room, 120-seat dining room, commercial kitchen, rest rooms, mezzanine office and basement storage. According to public records the building was constructed in 1900 and contains 8,775 square feet of gross building area.

SITE:

Lot size 30' x 150' m/l.

BLOCK PLAT

TITLE:

In fee simple. Deed Liber 4283, Page 358. The property is sold free and clear of all liens.

ZONING:

B-4-2, Commercial, Central Business District

INSPECTION:

One hour prior to sale

TERMS OF SALE:

A $75,000 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 within 45 days. 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. All adjustments, including taxes, rents, all other public charges and assessments payable on an 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, and subject to existing leases and tenants in possession. The purchaser waives and releases the Seller, their Attorney, 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. Purchaser assumes the risk of loss from the date of sale forward. 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 and transfer taxes to be paid by the purchaser. Time is of the essence.

No Buyer's Premium

BROKER
PARTICIPATION:


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