REAL ESTATE AUCTION

RESERVOIR HILL
APARTMENT BUILDING

Requiring Rehabilitation

National Historic District



ADDITIONAL PHOTOS

Sale On Premises
2517 LINDEN AVENUE
"With View of Druid Lake"
Off 845 Druid Park Lake Drive
Baltimore, MD 21217

THURSDAY, MAY 12, 2005
AT 11:00 A.M.


       THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES DEEMED RELIABLE AND BELIEVED TO BE ACCURATE. HOWEVER, NO EXPRESS OR IMPLIED WARRANTY IS MADE AS TO THE ACCURACY OF THESE REPRESENTATIONS. ALL DIMENSIONS CONTAINED HEREIN ARE MORE OR LESS.

GENERAL INFORMATION

LOCATION:

Situated in the Historic Reservoir Hill neighborhood of West Baltimore City, just ½ block south of Druid Lake. This neighborhood is fast becoming one of the hottest investment residential housing markets in Baltimore City. Major renovation work is taking place in Reservoir Hill and there is potential opportunity for historic tax credits.

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

Reprint from baltimoresun.com about Reservoir Hill planned development

LOCATION MAP

SITE:

61' along Linden Avenue with a depth of 120' along Brooks Lane
All public utilities are in the site

BLOCK PLAT

CONSTRUCTION:

Quality built brick three story apartment building previously containing 12 apartment units. The interior has been completely gutted and is ready for complete renovation. Features include 10'-12' ceiling height and balconies off the front of the building for all three floors. Application has been made with Baltimore City to add 2 additional basement apartment units. See the Architectural Floor Plans and Proposal (pdf).

Click Logo to get Adobe Acrobat Reader

ZONING:

R-9, 12 dwelling units. Application is pending approval for 14 dwelling

ANNUAL TAXES:

$2,214

TITLE:

In fee simple; sold free and clear of all liens

INSPECTION:

10:00 a.m. on the day of the auction

DIRECTIONS:

From I-83 (Jones Falls Expressway), take Exit 7 West to Druid Lake Drive. Travel two blocks to Linden Avenue, turn left to property on the left. For directions from your location, visit:
http://www.mapquest.com/directions/main.adp.

TERMS OF SALE

       Deposit payable by certified or cashier's check of $25,000 will be required of the purchaser at time and place of sale. The deposit is to be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers. Balance to be paid in cash within 45 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement. Taxes and all other public charges and assessments, payable on an 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 assumes 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 Auctioneer. The purchaser agrees to waive the right of inspection for lead paint as provided under current Federal and State Law. Cost of all recordation and transfer taxes to be paid by the purchaser. TIME IS OF THE ESSENCE.

NO BUYERS PREMIUM!