Real Estate Auction

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WASHINGTON HILL
REDEVELOPMENT AREA

THREE STORY CORNER
APARTMENT BUILDING
- 3 Self-Contained Units -

Potential for Condo. Conversion,
Reconfiguration or Rehab.

Photo of property

Sale On Premises
1752 E. LOMBARD STREET
Corner S. Ann StreetBaltimore, MD 21231

THURSDAY, MARCH 16, 2006
AT 2:00 P.M.


LOCATION:

1752 E. Lombard Street is a prime corner property, situated in Washington Hill, between Fells Point and Butcher's Hill. Substantial rehabilitation and new home construction has taken place within the area. The auction presents an outstanding opportunity to purchase a property with existing cash flow and development potential for a variety of other uses.

Washington Hill neighborhood link:
http://www.livebaltimore.com/nb/list/wshhill/

LOCATION MAP & DIRECTIONS

SITE:

Rectangular lot fronts 20' on E. Lombard Street, by a depth of 75' along S. Ann Street.

BLOCK PLAT

ZONING:

R8, last registered use was for two dwelling units

BUILDING:

Three story end-of-group formstone front brick townhome (former storefront). According to public tax records, the building was constructed in 1900 and contains 3900 square feet of gross building area, plus a partial basement. The structure has replacement windows, built-up roof, one entrance on Lombard Street and two on Ann Street. The property is currently configured for three, large, self-contained apartment units:

First Floor - living room, kitchen, 3 bedrooms, 1 baths, laundry; currently rented for $800/month (no lease).

Second Floor - living room, kitchen, 2 bedrooms, 1 baths, laundry; currently rented for $800/month (no lease).

Third Floor - living room, kitchen, 2 bedrooms, bath, laundry and attic; vacant

Interior Photos:
Photos of auction property
KITCHEN      LIVING ROOM      BEDROOM

Mechanical

Separate gas forced hot air heat and central air conditioning for each unit

Separate utility meters

Separate water heaters

Modern appliances

Registered in M.D.E. lead program

TITLE:

In fee simple. Deed Date 4/26/1963, Liber 1457, Page 607. The property is sold free and clear of liens.

TAXES:

2005 annual real property taxes - $3,752.23

TERMS OF SALE:

A $25,000 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, 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 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. 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. A 5% buyers premium will be added to the final bid price.

BROKER
PARTICIPATION:


See the BROKER REGISTRATION FORM