"Historic Mount Vernon" Corner Retail and Apartment Building 6 Self-Contained Units, 2009 Gross Annual Rents - $43,041

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Listing Details

Sold Price
$268,000
Auction Date
Auction Time
11:00 AM
Address
226 W. Monument Street, Baltimore, MD, 21201
County
Baltimore City
Neighborhood
Historic Mount Vernon
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Stanley A. Snyder, Attorney
Cohan, West & Karpook, P.C.
201 N. Charles Street, Suite 2404
Baltimore, MD 21201

ATTORNEY'S AUCTION
Dissolution of Partnership
                                             
HISTORIC MOUNT VERNON


CORNER RETAIL AND
APARTMENT BUILDING

6 - Self-Contained Units
2009 Gross Annual Rents - $43,041

Sale On Premises
226 W. MONUMENT STREET
Opposite Maryland Historical Society
Corner of N. Howard Street
Baltimore, MD 21201

THURSDAY, SEPTEMBER 16, 2010
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 & DIRECTIONS:

226 W. Monument Street is situated in the Mount Vernon Historic District of Downtown Baltimore, as designated by the Commission for Historical & Architectural Preservation.  Mount Vernon is Baltimore's cultural arts hub, featuring theaters, concert halls, art museums, art galleries, restaurants and specialty shops.  University of Baltimore and Peabody Conservatory of Music are in the neighborhood.  University of Maryland hospital and professional schools are a short walk to the south.  Public transportation includes MTA light rail (at the door), subway and bus service.  Pennsylvania Station (Amtrak and MARC trains) is also within walking distance.  In addition to Downtown employment centers, the area is near I-83 (Jones Falls Expressway), I-395 leading to I-95 and US-40, providing excellent highway linkage to the Baltimore and Washington metropolitan areas.


Detailed neighborhood description:
http://www.livebaltimore.com/nb/list/mtvern/

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

 

SITE AREA

Rectangular lot fronting 23'2" on W. Monument Street by 108' on N. Howard Street, comprising approximately 2,502 square feet of land


Zoning B-5-1, Central Commercial District - Baltimore's highest commercial zoning classification


All public utilities are in the site


Brick sidewalks


Brick walled courtyard


BLOCK PLAT (pdf)

 

IMPROVEMENTS

Three story brick end-of-group building - according to public tax records the building was constructed circa 1900 (could be older) and contains 7,014 square feet of living area.


Exterior

Built-up roof

Vinyl-clad double hung replacement windows

Front and side entrances

2 - steel fire escapes


Interior

Plaster and drywall

Hardwood and laminate flooring

Lead certificates and annual leases for residential units

Separate gas and electric meters for each unit


First Floor - Commercial Space

Currently occupied by Bijon Hair Salon, for $1,250 per month on a month-to-month basis.   Tenant pays for own utilities and 25% of the building water bill.  Separate gas forced air heat and central air conditioning.  The unit has four large show windows, an aluminum commercial entrance door, main area, loft, rest room, storage room and basement access.


First Floor Rear Apartment

Former two-bedroom apartment unit, gutted and ready for renovation


Second Floor Front Apartment

Currently rented for $800 per month, month-to-month tenant.  Unit contains living room, kitchen, 2 bedrooms and bath; gas forced air heat


Second Floor Rear Apartment

Currently vacant - was rented for $600 per month.  Unit contains living room, kitchen, bedroom and bath; gas forced air heat


Second Floor - Laundry Room

Coin operated machines


Third Floor Front Apartment

Currently rented for $800 per month (Section 8), month-to-month tenant.  Unit contains living room, kitchen, 2 bedrooms and bath; gas forced air heat


Third Floor Rear Apartment

Currently rented for $600 per month, with lease expiring April 2011.  Unit contains a living room, kitchen, bedroom and bath; marble fireplace (inoperable); gas forced air heat


Basement

Unfinished storage and utility areas

 

INCOME & EXPENSE INFORMATION:

Please complete and return this WAIVER AND CONFIDENTIALITY FORM (pdf) for copies of lead certificates and 2009 income and expense information.

 

TITLE

The property is in fee simple and is sold free and clear of liens.  Deed Liber 8036, folio 355.

 

INSPECTION TIME

From 10:00 a.m. on day of sale.

 

TERMS OF SALE

A $15,000 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.  All adjustments, including taxes, rents, security deposits, all other public charges and assessments payable on an annual or monthly 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 or covenants of record affecting same, if any, and subject to the rights of the tenants in possession.  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.


Broker participation is invited.
BROKER REGISTRATION FORM (pdf)


Auction by order of:
226 West Monument Street, LLC and
Residuary Trust under the will of Zalmen J. Birnbaum,
Dissolving Partners