Absolute Auction Above $99,000

"Penn Lucy" Church Building and Victorian Home
4.99% Financing Available
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Listing Details

Sold Price
$191,000
Auction Date
Auction Time
11:00 AM
Address
500 E. 39th Street, Baltimore, MD, 21218
County
Baltimore City
Neighborhood
Penn Lucy
Inspection
This property will be open for inspection one hour prior to the auction.
Additional Documents
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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★ABSOLUTE★
REAL ESTATE AUCTION
To the Highest Bidder Above $99,000

PENN LUCY

One Story Masonry
CHURCH BUILDING
- And -
VICTORIAN HOME

 4.99% Financing Available

Sale On Premises
500 E. 39TH STREET
Corner Greenmount Avenue
Baltimore, MD 21218

THURSDAY, NOVEMBER 19, 2015
AT 11:00 A.M.

NOTE:  The information contained herein has been obtained from sources deemed reliable and is believed to be accurate.  However, no express or implied warranty is made or may be inferred from any such representation.  Dimensions, square footage and acreage contained herein are more or less.  Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
500 E. 39th Street is a high visibility property situated at the northeast corner of 39th Street and Greenmount Avenue, in northern Baltimore City.  The site is comprised of two buildings - a one story church building and a Victorian home.  The property is located in “Penn Lucy”, opposite the affluent Guilford neighborhood.  The neighborhood is primarily residential in character, comprised of a variety of housing types and styles, including large single family detached homes, townhomes and duplexes.  Public transportation is along both roadways, providing convenient access to shopping and employment centers.

SITE:
The property is rectangular, fronting approximately 104' along the east side of Greenmount Avenue by 80' along the north side of 39th Street, comprising 8,360 square feet or 0.19 acre of land.  The site is mostly clear and level above street grade.  

Zoning R-5, residential

All public utilities are available.

The church building is located along the north side of the lot, the house along the southern portion.  The lot is bounded on the north by Engle Avenue, a narrow lane.

IMPROVEMENTS:
One Story Masonry Church Building with pitched composition shingle roof and casement windows.  The building measures approximately 28' x 64', comprising approximately 1,792 square feet.  The building contains a sanctuary, two rest rooms and breezeway to the house. Sanctuary has wooden pews, a large organ (needs repairs) and a kitchenette.

Two and One-half Story Victorian Home with covered wraparound front porch, asbestos shingle siding, composition shingle roof and double-hung windows. Interior has wood floors, original details and trim. Renovation is needed.

First Floor
●    Living Room (19' x 18')
●    Dining Room (15' x 11')
●    Kitchen (15' x 14')

Second Floor
●    Bedroom #1 (13' x 11')
●    Bedroom #2 (11' x 13')
●    Bedroom #3 (12' x 10')
●    Full Bath

Third Floor
●    Bedroom #4 (13' x 13')
●    Bedroom #5 (11' x 11')
●    Unfinished Attic

Unfinished Basement.

The buildings need updating and repairs.

TITLE:
The property is in fee simple and sold free and clear of liens.  Baltimore City Deed Liber 17553, Folio 11.

TAXES:
The property was previously owned by a non-profit and was tax exempt.  The 2015 published full value assessment is $191,600.

ATTRACTIVE FINANCING AVAILABLE:
Attractive private financing is available under the following terms - $25,000 down payment, interest only payments for 11 years - 4.99% interest for the first year (approximately $312/month payment on $100,000 sales price), adjusting to 3.5% above the Wall St. Journal Prime Lending Rate in year two and every two years thereafter for the balance of the term.  Purchasers are under no obligation to use the financing.

TERMS OF SALE:  A $10,000 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 at settlement, which shall take place within 45 days.  If payment of the deposit or 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 a monthly or 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 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.  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, transfer taxes and all costs incidental to settlement to be paid by the Purchaser.  Time is of the essence.

No buyer’s premium.