COMPANY DISSOLUTION
AT PUBLIC AUCTION


MT. VERNON JEWEL
Spectacular 10-Unit
RENOVATED APARTMENT
& TOWNHOUSE COMPLEX


FRONT VIEW     STREET VIEW

Sale On Premises
216 W. MONUMENT STREET
Opposite MD Historical Society
Off 700 Park Avenue
BALTIMORE, MD 21201

FRIDAY, SEPTEMBER 30, 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.

GENERAL INFORMATION

LOCATION:

Prime location in the heart of the Mt. Vernon Historic District, only 2 blocks from the Washington Monument. The property is situated opposite the Maryland Historical Society, near the Peabody Institute, Maryland General Hospital, University of Maryland Hospital, the University of Baltimore, Maryland Institute College of Art and Baltimore's Cultural Arts Center. The Downtown Baltimore business district is just minutes to the southeast.

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

LOCATION MAP

For directions from your location, visit:
http://www.mapquest.com/directions/main.adp

SITE:

Enclosed lot measuring: 30' front with depths of 128' and a rear lot line of 40', comprising 0.092 acre, all more or less (See Block Plat)

Serviced by public water and public sewer

Gated brick courtyard

Photos:   COURTYARD ENTRANCE     COURTYARD
               TOWNHOUSE      AERIAL PHOTO

BLOCK PLAT

ZONING:

OR3, office/residential, permitting 10 apartment units (according the Baltimore City Office of Planning and Zoning).

For the Zoning Code information, see:
http://www.ci.baltimore.md.us/government/legislative/zoning/

IMPROVEMENT
DESCRIPTION:

Beautifully renovated (8-unit) three story brick building and 2 - three story brick townhomes with finished basements, all featuring: ornate trim and detail, expansive ceilings, marble surround fireplaces (most operable), separate heatpumps and central air systems for each unit, separate water heaters, washer/dryer in each unit, separate electric meters, random pine flooring, modern kitchens (each with bleached oak cabinetry, range/oven, exhaust fan, dishwasher, refrigerator and disposal) and modern ceramic tile bathrooms.

BUILDING FLOOR PLANS

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Chimney Reconstruction:

PHOTO #1      PHOTO #2      PHOTO #3


Interior Photos:

KITCHEN #1      KITCHEN #2      APARTMENT
FIREPLACE #1      FIREPLACE #2

The main building is arranged as follows:

First Floor Front - living room (with ornate marble fireplace with mirror above), modern kitchen, bedroom (with ornate marble fireplace with mirror above), modern bathroom and laundry closet. The unit features random pine flooring throughout, ornate moldings and trim, alarm system. The unit was rented for $750 per month and is now vacant.

First Floor Rear (Courtyard Entry) - living room (with marble surround fireplace), modern kitchen (with breakfast bar), 2 bedrooms, modern bathroom with laundry closet. The unit features random pine flooring throughout. The unit was rented for $750 per month and is now vacant.

Second Floor Front - living room (with marble surround fireplace), modern kitchen (with work island and breakfast bar), dining area, bedroom (with marble surround fireplace), modern bathroom, laundry closet. The unit features random pine flooring throughout. The unit is currently rented for $800 per month.

Second Floor Rear - living room (with marble surround fireplace and walk-out to covered porch), modern kitchen (with breakfast bar), 2 bedrooms, modern bathroom with laundry closet. The unit features random pine flooring in the living room and wall-to-wall carpeting throughout the remainder of the unit. The unit is currently rented for $750 per month.

Third Floor Front - living room (with brick fireplace and skylight), modern kitchen (with pass-through window), dining room, bedroom (with skylight), modern bathroom with laundry alcove. The unit features random pine flooring throughout. The unit is currently rented for $750 per month.

Third Floor Rear - living room (with brick fireplace, 2 skylights and walk-out to covered porch), modern kitchen, bedroom, modern bathroom with laundry closet. The unit features wall-to-wall carpeting throughout. The unit is currently rented for $750 per month.

Terrace Front (Courtyard Entry) - living room, modern kitchen, den, bedroom, modern bathroom and laundry closet. The unit features wall-to-wall carpeting throughout. The unit is currently rented for $525 per month.

Terrace Rear (Courtyard Entry) - living room, modern kitchen (with breakfast bar), bedroom, modern bathroom and laundry closet. The unit features ceramic tile flooring throughout. The unit is currently rented for $550 per month.

The townhomes are arranged as follows:

Townhouse West (Courtyard Entry) - living room (with walk-out to private brick courtyard) and modern kitchen, on the first floor; bedroom (with fireplace) and bathroom, on the second floor; bedroom (with vaulted ceiling and skylight) and modern bathroom, on the third floor; finished basement has family room (with fireplace and wet bar), powder room and laundry closet. The townhome features double glazed replacement windows and wall-to-wall carpeting throughout. The unit is currently rented for $1,000 per month.

Townhouse East (Courtyard Entry) - living room (with walk-out to private brick courtyard) and modern kitchen, on the first floor; bedroom (with fireplace) and bathroom, on the second floor; bedroom (with vaulted ceiling and skylight) and modern bathroom, on the third floor; finished basement has family room (with fireplace and wet bar), powder room and laundry closet. The townhome features double glazed replacement windows and wall-to-wall carpeting throughout. The unit is currently rented for $1,000 per month.

NOTE: All of the tenants are on a month-to-month tenancy paying their own utilities. The vacant units were intentionally not re-rented. All of the units have been meticulously maintained and in good condition. All of the units have been registered with the Maryland Department of the Environment in the MDE Lead Paint Program.

ANNUAL REAL
ESTATE TAXES:


$6,253

TITLE:

In fee simple; sold free and clear of all liens

INSPECTION:

9:00 a.m. on the day of the auction

INCOME & EXPENSES:

Prospective purchasers must sign a Waiver and Confidentiality Agreement prior to inspecting the financial information. The agreement may be faxed to 410-385-1841 or emailed to info@ajbillig.com.
Click here to download the form.

TERMS OF SALE

       Deposit payable by certified or cashier's check of $75,000 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 72 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. 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 settlement 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 the rights of the existing tenants 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!

       Broker participation is invited: Click here for the Registration Form.