Sale On Premises
TUESDAY, MAY 23, 2006

AT 2:00 P.M.
12 E. MADISON STREET
6 Large Apartments & 5 Parking Spaces
- Fully Occupied -


Photos of auction property
FRONT VIEW      REAR VIEW

SITE:

Located one block east of Baltimore's Washington Monument, between the 800 blocks of St. Paul and Charles Streets. The property fronts 23' on E. Madison Street by 150'2" to a rear alley. There is paved parking for 4 to 5 cars in the rear.

Photo of

BLOCK PLAT

BUILDING:

Three story brick inside-group townhouse mansion, with white granite stairs, iron window boxes, flat built-up roof, double hung replacement windows. The building is well maintained and contains 6 one-bedroom apartment units, each with high ceilings; original wainscot in hallways; sprinklered; MDE registered; separate gas and electric meters; central gas steam heat - new 2006; full unfinished basement with brick foundation walls; two 50-gallon water heaters.

The building is owned by a non-profit and leased to subsidized personnel at below market rents. All leases expire by January 2007.

Photos of auction property
PHOTO #1      PHOTO #2      PHOTO #3      PHOTO #4      NEW FURNACE

FINANCIALS:

Please return the Confidentiality Waiver form below. Upon receipt, we will forward the current rent roll, unit breakdown, income and expense data.
CONFIDENTIALITY WAIVER FORM

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ZONING:

OR-3, office residential; 6 dwelling units

TAXES:

Tax year 2005 - $4,382.24

TITLE:

In fee simple. The property is sold free and clear of liens.

TERMS OF SALE:

A $25,000 deposits, 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 properties will be sold in "AS IS" condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Dimensions contained herein are more or less. 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.

NO BUYER'S PREMIUM.


Links To: MAIN AUCTION DETAILS

AT 11:00 A.M.: 107-109 W. MONUMENT STREET

12:00 NOON: 218 W. MONUMENT STREET

AT 1:00 P.M.: 216-218 W. MADISON STREET