Absolute Auction Over $75,000 "Dolfield - Northwest Baltimore" Five Unit Apartment Building Gross Annual Income of $40,020

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Listing Details

Sold Price
$90,000
Auction Date
Auction Time
11:30 AM
Address
3914 W. Cold Spring Lane, Baltimore, MD, 21215
County
Baltimore City
Neighborhood
Dolfield, Northwest Baltimore
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 Over $75,000

FIVE UNIT APARTMENT BUILDING
Gross Annual Income of $40,020

 

DOLFIELD
Northwest Baltimore

Sale on Premises
3914 W. COLD SPRING LANE
Off 4000 Blk. Garrison Boulevard
BALTIMORE CITY, MARYLAND 21215

WEDNESDAY, MARCH 6, 2013
Postponed to:
TUESDAY, MARCH 12, 2013
AT 11:30 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. 

LOCATION & DIRECTIONS:

3914 W. Cold Spring Lane is situated in the Dolfield/Garrison Hill neighborhood of northwest Baltimore, east of the 4100 block of Garrison Boulevard.  Neighborhood housing is a variety of detached homes, townhomes and apartments.  The area is well established and desirable due to its proximity to Downtown employment centers and public transportation. 


Live Baltimore - Neighborhood link:
http://www.livebaltimore.com/nb/list/dolfield/

For directions from your location, visit: maps.google.com

 

SITE AREA

Large, level lot fronting 100' on Cold Spring Lane, with depths of 120', comprising 12,000 square feet or 0.275 acre, more or less.


Mature trees


Public water, sewer, gas, electricity, telephone, cable TV


BLOCK PLAT (pdf)

 

IMPROVEMENTS

Two story covered porchfront Victorian-style building is arranged for five units, comprising a three-bedroom unit, 2 two-bedroom units, and 2 one-bedroom units. Each unit has separate heat, hot water and electric meters.


Exterior
Siding and shingle facade
Covered front porch
Stone basement foundation
Recently installed shingle roof
Wooden double hung windows with storm windows


Interior
Large interior stairway and common hallway
Plaster and drywall walls
Hardwood, vinyl and carpeted floors
MDE lead reduction certificates

  • Unit 1: Three bedrooms, kitchen and bath; rented for $800/month on a month to month basis
  • Unit 2: One bedroom, kitchen and bath; rented for $585/month on a month to month basis
  • Unit 3: One bedroom, den, kitchen and bath; rented for $600/month on a month to month basis
  • Unit 4: Two bedroom, den, kitchen and bath; rented for $600/month on a month to month basis
  • Unit 5: One bedroom, kitchen and bath; rented for $585/month
  • Laundry: Coin operated laundry generates approximately $175/month on average
  • Total Monthly Income: $3,335


Full unfinished basement with outside exit


Interior Photos
Photos of auction property
LAUNDRY AREA    KITCHEN    MASTER BEDROOM    BEDROOM #2    BATH


All rental information is as provided by the Seller, and believed to be accurate. However, no representation is made, express or implied, regarding the accuracy of this information. Status of tenants is subject to change prior to auction. Up to date information will be provided via this website and on the day of the auction.


Mechanical
Five electric and gas meters
4 electric heat pumps, one gas boiler
Circuit breakers
5 - electric water heaters



ADDITIONAL INFORMATION:

Leases and MDE lead reduction certificates are available for inspection. Please sign the Waiver and Confidentiality Agreement (pdf) and email to info@ajbillig.com or fax to 410-296-4420. The documents will be sent by email after receipt of the signed agreement.

 

ZONING

Zoning R5 - Five Dwelling Units

 

REAL ESTATE TAXES

Published real estate taxes for 2012-2013 are $5,084, based on a full value assessment of $213,600.  Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property.  Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information - http://www.dat.state.md.us/sdatweb/appeal.html

 

TITLE

In fee simple; and sold free and clear of liens.  Baltimore City Deed Liber 6729,  folio 151.

 

INSPECTION TIME

The property may be inspected from one-hour prior to sale.

 

TERMS OF SALE

A $7,500 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. All adjustments, including taxes, rent, ground rent, 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 settlement and assumed thereafter by the purchaser. The property will be sold in "AS IS" condition, and subject to easements, agreements, restrictions, covenants of record affecting same or housing violation notices, 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, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law.  Time is of the essence. 


NO BUYER'S PREMIUM!

 

FINANCING

See our Financing Page for a list of auction-oriented lenders.