"Ellicott City" Multi-Family Investment Property 3 Townhomes & Circa 1850 Stone Home

14934_frederick161_167_4photos.jpg

Listing Details

Sold Price
$318,000
Auction Date
Auction Time
2:00 PM
Address
161-167 Frederick Road, Baltimore County, MD, 21042
County
Baltimore County
Neighborhood
Ellicott City
Scroll down for Complete Details, including: property description and Terms of Sale.

REAL ESTATE AUCTION
                            
ELLICOTT CITY

MULTI-FAMILY
INVESTMENT PROPERTY
3 Townhomes & Circa 1850 Stone Home
$4,000 Current Monthly Rentals
Zoned RO - Residential Office

 

Outstanding Views of Patapsco River
and Patapsco State Park

Sale On Premises
"Grey's Landing"
161-167 FREDERICK ROAD
Baltimore County, MD 21042

WEDNESDAY, MARCH 28, 2012
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:

161-167 Frederick Road is located along the south side of Frederick Road (MD-144) just east of the Ellicott City Historic District. The front of the property faces Benjamin Banneker Historical Park. The rear overlooks the Patapsco River and Patapsco Valley State Park.

Photos of auction property
PATAPSCO RIVER    RIVER VIEW #2
STREET SCENE #1    STREET SCENE #2


Known as "Grey's Landing" the property has been operated for many years as rental housing. It has almost always been fully occupied. Its magnificent views and convenient location easily attract potential tenants.


The property is about 3.5 miles west of Baltimore Beltway (I-695) Exit 13 and has good access to I-95 and I-70. Nearby public schools are Westchester Elementary, Catonsville Middle and Catonsville High. Convenient shopping is available in Ellicott City and nearby Catonsville.

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

 

SITE AREA

The property is an L-shaped configuration, fronting approximately 100' along Frederick Road, by a depth of approximately 149' comprising 0.238 acre of land. The property fronts 26' along the Patapsco River, but has open views along its entire south side. There is on-site parking in front of the three townhomes. The lot is terraced down from front to rear (north to south), providing for rear walkouts in all four residences. Please see the Deed for a complete metes and bounds description.

Metes and Bounds Legal Description (pdf)

Photos of auction property
AERIAL PHOTO    TAX MAP


Utilities - public water, public sewer, natural gas, electricity


Zoning - The majority of the property appears to be zoned RO, residential office, permitting residences or offices. A small portion in the rear appears to be zoned DR-1, residential.

For more information, see: Baltimore County's My Neighborhood Web Page or Baltimore County Zoning Code

Zoning Map:
Photos of auction property

 

IMPROVEMENTS

161 Frederick Road - Two-Story Stone Detached Home.  According to public tax records the home was constructed in 1850.  The home has a composition shingle roof with aluminum rain spouts, vinyl-clad double-hung replacement windows, a concrete front patio and a full walkout basement.  The home is believed to contain a living room, dining room, kitchen, 3 bedrooms, bath, gas forced air heat, central air conditioning and 100 amp. electrical service.  It is currently rented for $1,100/month, by long-time tenants under a month-to-month arrangement.

Photos of auction property
161 FREDERICK ROAD - FRONT VIEW    REAR VIEW


163-167 Frederick Road - Three, One-Story Brick Townhomes.  The homes have composition shingle roofs with aluminum rain spouts, vinyl-clad double-hung replacement windows and stucco rear wall.  Each unit has a rear wooden sun deck or balcony overlooking the Patapsco River.  Kitchens have ceramic tile floors, gas range/oven, refrigerator and stainless steel sink.  Each home has a washer and dryer, gas water heater, gas forced air heat and central air conditioning, walkout basement, drywall and carpeting.  Units are separately metered for gas and electric.

Photos of auction property
163 FREDERICK ROAD - FRONT VIEW    REAR VIEW


163 Frederick Road contains a living/dining combination, kitchen, bedroom, bath and utility room.  The unit is currently rented for $900/month under lease until 3/31/2012.


165 Frederick Road contains a living/dining combination, kitchen, two bedrooms, bath and utility room.  The unit is currently rented for $1,000/month under lease until 1/6/2013.


167 Frederick Road contains a living/dining combination, kitchen, two bedrooms, bath and utility room.  The unit is currently rented for $1,000/month under lease until 8/31/2012.


The Leases are available to view, please contact the office of the Auctioneers.  


All units are MDE certified lead free and are registered as rental units with Baltimore County.

 

TITLE

The property is in fee simple and will be sold free and clear of liens. Deed Liber 10358, page 712.
DEED (pdf) Includes: Metes and Bounds Legal Description

 

TAXES & EXPENSES:

Taxes - Published real estate taxes for 2011 are $8,106.38 based on a full value assessment of $503,500. 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 SDAT concerning the appeals process, and may see the following link for helpful information: http://www.dat.state.md.us/sdatweb/appeal.html


Expenses - The property has been owner managed. Annual premises insurance is reported to be $2,513.00. The owners have elected to have flood coverage for an additional $5,820 per year. Lawn service is reported to be $40 per cut.

 

INSPECTION TIME

The property will be open for inspection one hour before the auction.

 

TERMS OF SALE

A $20,000 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, 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 or covenants of record affecting me, if any, and subject to the rights of the tenants in possession of all or part of the property.  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.

 

NOTE:  Shareholders of the selling party, their representatives, trustees and assignees reserve the right to bid for their own personal account.


BIDDER PRE-REGISTRATION

Online pre-registration is now closed. Please register with the Auctioneer at the auction site.


BROKER COOPERATION:

Broker participation is invited. See our: BROKER REGISTRATION FORM (pdf). 

The completed form must be returned to the Auctioneer's office by 5:00 P.M. on Tuesday, March 27, 2012.

 

FINANCING

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