"Ramblewood" Brick Garden Apartment Building 13 Units - Renovation Needed

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Listing Details

Sold Price
$385,000
Auction Date
Auction Time
2:00 PM
Address
1236-1238 E. Belvedere Avenue, Baltimore, MD, 21239
County
Baltimore City
Neighborhood
Ramblewood
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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REAL ESTATE AUCTION
                            
RAMBLEWOOD

BRICK GARDEN
APARTMENT BUILDING
13 Units ◆ Renovation Needed

Sale On Premises
1236-1238 E.
BELVEDERE AVENUE
Corner Leith Walk
Baltimore City, MD 21239

TUESDAY, JULY 16, 2013
AT 2:00 P.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:

1236-1238 E. Belvedere Avenue is located in northern Baltimore City, along the north side of Belvedere Avenue, west of Loch Raven Boulevard, east of The Alamdea and south of Northern Parkway.  Housing in the surrounding neighborhood is a mixture of two story brick townhomes and garden apartments.  The area is well served by MTA bus service.  Neighborhood shopping is within walking distance.  Belvedere Square is about one mile west of the site.  Mount Pleasant Golf Course, Park and Ice Arena are less than one mile to the east.  Demand for neighborhood rental housing is strong, due to nearby Good Samaritan Hospital and Morgan State University.


Link for neighborhood description by LiveBaltimore.com:
http://www.livebaltimore.com/neighborhoods/list/ramblewood

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

 

SITE AREA

The property is a pentagonal shaped lot, fronting approximately 126' on E. Belvedere Avenue by approximately 101' along Leith Walk (residential roadway) and comprising 0.58 acre.


The site is clear and bounded by a 16' wide rear alley, with access from The Alameda and Ramblewood Road.  There is ample space for off-street parking in the area bounding the alley.


All public utilities are available to the site.


Zoning R5 - last registered use was for 13 apartment units


BLOCK PLAT (pdf)

 

IMPROVEMENTS

Two Story Garden Apartment Building, believed to have been constructed in 1951.


Exterior
Brick exterior walls
Slate roof
Some replacement windows
Full concrete block basement foundation with outside entrance


Interior
The building formerly contained 8 one-bedroom apartment units and 5 two-bedroom units with oil fired central heat.  The structure has been gutted and partially framed for rehabilitation.

 

REAL ESTATE TAXES

Published annual real estate taxes for 2012-2013 are $11,365.

 

TITLE

The property is in fee simple and sold free and clear of liens.  Baltimore City Deed Liber 13899, Folio 7.

 

INSPECTION TIME

The property will be open for inspection one hour prior to the auction and may be inspected by appointment with the Auctioneers.

 

TERMS OF SALE

A $25,000 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 an 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 except where otherwise mandated by local, State or Federal law.  Time is of the essence.


No buyer's premium.

 

FINANCING

FINANCING IS AVAILABLE - $100,000 down, balance financed at 10.95% interest for 20 years. Buyers are under no obligation to use the financing.