"Morrell Park" 6-Unit Apartment Building & Adjoining Lot

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Listing Details

Sold Price
$130,000
Auction Date
Auction Time
11:00 AM
Address
2470 & 2462 Washington Boulevard, Baltimore, MD, 21230
County
Baltimore City
Neighborhood
Morrell Park
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Law Offices of Arthur L. Drager, LLC
The Equitable Building - Suite 620
10 N. Calvert Street
Baltimore, MD 21202

ESTATE SALE
                              
MORRELL PARK

6 UNIT APARTMENT BUILDING
& ADJOINING LOT
- Zoned B-2-2 -

Sale On Premises
2470 & 2462 WASHINGTON BOULEVARD
Corner of Harman Avenue
Baltimore City, MD 21230

THURSDAY, AUGUST 8, 2013
AT 11:00 A.M.


      THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES DEEMED RELIABLE AND BELIEVED TO BE ACCURATE.  HOWEVER, NO EXPRESS OR IMPLIED WARRANTY IS MADE AS TO THE ACCURACY OF THESE REPRESENTATIONS.


GENERAL INFORMATION

LOCATION & DIRECTIONS:

The property is located in the Morrell Park neighborhood located in southewest Baltimore City. Based on the proximity to I-95, the Baltimore Beltway (I-695), the Baltimore Washington Parkway (I-295) and other major thoroughfares, the location has been a longtime hub for both employers and residents. Major businesses exist up and down Washington Boulevard, many of whom utilize  labor from the nearby neighborhoods. Area homes are a mix of townhomes and traditional single family homes.


For more information about Morrell Park, please see:
http://www.livebaltimore.com/neighborhoods/list/morrellpark/

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

 

SITE AREA

2470 Washington Boulevard (corner with building): Mostly rectangular lot fronts 50' on Washington Boulevard, and comprises 6,940 square feet or 0.159 acre, more or less. The site features a curb cut on Harman Avenue, with a rear surface parking pad. Serviced by public water, public sewer, electricity and natural gas


2462 Washington Boulevard (lot): Mostly rectangular lot fronts 50' on Washington Bouelvard, and comprises 6,825 square feet or 0.157 acre, more or less. Level, mostly grassy lot.

 

 

IMPROVEMENTS

2470 Washington Bouelvard is improved by a two and one-half story apartment building with covered wraparound porch, multiple exterior entrances, some replacement windows and steel fire escape. According to public tax records, the home contains 2780 square feet of living area and 1,339 square feet of basement space. The building is  believed to be arranged for 6 apartment units, with all six units occupied. The 1st floor unit contains living room, dining room, kitchen, bedroom and bath with a separate meter. The other 5 units contain kitchen, bedroom and bath. Rental rates vary from $325-550/month, with a total gross scheduled income of $2,775/month. Rental information has been obtained from family members familiar with the situation, but no warranty is made with respect to the rental rates, number of units or suitability for occupancy.

 

ZONING

2470 Washington Boulevard: B-2-2, community business district, 4 dwelling units.


2462 Washington Boulevard: B-2-2, community business district.

 

REAL ESTATE TAXES

2470 Washington Boulevard: 2012-2013 published annual real estate taxes are $4,155, based on a full value assessment of $174,567.


2462 Washington Bouelvard:  2012-2013 published annual real estate taxes are $162, based on a full value assessment of $6,800.

 

TITLE

In fee simple.

 

INSPECTION TIME

1 hour prior to sale.

 

MANNER OF SALE

Each property will be offered individually with the bids reserved, and then as an entirety, to be sold in the manner producing the highest amount.

 

TERMS OF SALE

A $5,000 deposit for each property, or $10,000 if sold as an entirety, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale.  The deposit is to be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers.  Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Taxes and all other public charges and assessments, payable on an annual basis, including 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. Properties will be sold in "AS IS" condition, without express or implied warranty as to the nature and description of the improvements as contained herein;  and subject to the rights of the existing tenants, if any, and easements, agreements, building violation notices, restrictions or covenants of record affecting same, if any. Purchaser assumes 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.  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 Auctioneer. The purchaser agrees to waive the right of inspection for lead paint as provided under current Federal and State Law. 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!


Auction by order of the Estate of Sandrath K. Karasinski, by:
Arthur L. Drager, Personal Representative

 

FINANCING

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