Owners Retiring:
Real Estate Auction

WEST BALTIMORE
"Midtown-Edmondson"

TWO STORY
PORCHFRONT TOWNHOME

Containing 2 Apartments & Convenience Store



Sale On Premises
801 N. BENTALOU STREET
Corner W. Lanvale StreetBaltimore, MD 21216

WEDNESDAY, JANUARY 18, 2006
AT 11:45 A.M.


LOCATION:

801 N. Bentalou Street is a well known West Baltimore corner grocery, situated one block south of the 2200 block of W. Lafayette Avenue. The surrounding neighborhood is primarily comprised of brick townhomes and garden apartment complexes. "Midtown-Edmondson" is a strong homeowner and rental neighborhood, being convenient to Downtown employment centers and public transportation.

LOCATION MAP

BUILDING:

Two-story semi-detached covered porchfront brick townhome with full basement, operated for 20 years as Gene's Grocery.

First Floor Apartment - 3 rooms, kitchen and bath; currently occupied at $330 per month plus tenant pays heating cost for entire building and electric service for unit - lease recently expired

Second Floor Apartment - 3 rooms, kitchen and bath; recently vacated; was rented for $630 per month, landlord provided utilities

Basement (Convenience Store) - customer service area, security partition, sales and lottery area, storage areas; owner occupied. If desired by auction purchaser, the remaining grocery inventory is available on a cost dollar-for-dollar basis; if not it will be removed.

Attached Brick Garage - currently used for storage; provides increased rent potential

Mechanical - Gas hot water heat; 100 ampere electrical service

SITE:

Rectangular lot fronts 17' on N. Bentalou Street by a depth of 95' on W. Lanvale Street. The site has drive-in garage access from W. Lanvale Street. The apartment entrance is on Bentalou Street. The convenience store fronts on W. Lanvale Street.

BLOCK PLAT

ZONING:

R6, residential. The building is currently registered as two apartment units with the Baltimore City Zoning Office. A business license is currently issued for the convenience store, even though the City Zoning Office states that a 1985 application for a grocery was "voided out."

TAXES:

2005 real property taxes - $1,414.96

TITLE:

In fee simple. Deed Liber 262, Page 735. The property is sold free and clear of all liens.

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 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. 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 an 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. 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 the rights of the existing tenants, if any. The property is sold "as is" without express or implied warranty as to the existing zoning or permitted uses. Purchaser assumes the risk of loss from the date of sale forward. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. 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. Possession shall be provided at settlement, unless otherwise announced at time of sale.

NO BUYER'S PREMIUM.