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New Auction Date: Thursday, January 21, 2021
Multifamily Portfolio
6 Buildings - 21 Units
$240,000+/- Scheduled Gross Annual Income
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Listing Details

Auction Date
CANCELED

Tuesday,
Auction Time
12:00 PM
Auction Note
Sale To Be Held:
Address
30 E. 25th Street, Baltimore, MD, 21218
County
Baltimore City
Neighborhood
Charles Village, Barclay, Druid Heights
Showing and Inspection

Pursuant to Maryland Association of Realtors suggested best practices, we would ask that showings are limited to no more than three people, total. And, that those viewing the property should follow CDC directed distancing guidelines, maintaining six feet of distance between individuals.

OPEN HOUSES:
The properties will be open on Friday, December 11 at the following times:
•  1918 McCulloh Street – 11-11:15am
•  2014-2018 McCulloh Street – 11:20am-12noon
•  30 E. 25th Street – 12:15-12:45pm
•  2405 Barclay Street – 1-1:15pm

Please email info@ajbillig.com or call 410-296-8440 if you would like to attend the open houses for the properties.

Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description, Terms of Sale and more.

 

See below for slideshow of interiors and mechanicals.

 

- POSTPONED -
New Auction Date: Thursday, January 21, 2021

REAL ESTATE AUCTION

Featuring Live & Simulcast Online Bidding
- $1,250,000 Starting Bid -

MULTIFAMILY PORTFOLIO
6 Buildings ◆ 21 Units ◆ Baltimore City

$240,000± Scheduled
Gross Annual Income

Sale On Premises
30 E. 25th STREET
Near St. Paul Street
Baltimore, Maryland 21218

- POSTPONED -
New Auction Date: Thursday, January 21, 2021

Online Bidding Opens
FRIDAY, DECEMBER 11, 2020

Live Onsite Auction Begins
TUESDAY, DECEMBER 15, 2020
AT 12:00 NOON

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. The auction will be open for online bidding beginning on Friday, December 11, 2020. Once the simulcast begins, both online and in-person bidders will be able to place bids on the property.  The simulcast will end approximately 15 minutes after the live auction begins, at which time online bidding will close.  If you encounter a problem placing online bids, please refresh the page.

AUCTION SUMMARY:
The auction comprises a collection of 6 Baltimore City multifamily buildings comprising a total of 21 rental units. The buildings are located in the Charles Village, Barclay and Druid Heights neighborhoods in Baltimore City. The unit mix includes 19 residential units and 2 commercial units, with 20 of the 21 units currently rented. Rentals include both market rate and housing choice vouchers.

The sale is being conducted as an entity transfer of the 4 LLCs that currently own the buildings, and includes buyer assumption of the existing Deed of Trust collateralized by all 6 buildings. The Note balance at the time of settlement will be deducted from the net proceeds the buyer is required to provide at closing. Rental information will be updated throughout the marketing period. Due diligence information and property descriptions are provided below.

Please complete the Confidentiality Waiver to obtain copies of:

  • Specimen Lease
  • Lead Certificates
  • Historical and Budgeted Income and Expense Statements
  • Sample Purchase Agreement
  • Deed of Trust and Note

BUILDING SUMMARIES:

30 E. 25th Street, Baltimore, MD 21218:

  • Neighborhood: Charles Village
  • Description: Three story inside-group building arranged for 6 units. The unit mix includes 2 commercial units, 2 one-bedroom residential units and 2 efficiency units. The lower level commercial space is rented to a retail store. The first floor commercial space is rented to a salon. All units are self contained. Heat pumps and central air. Electric water heaters. Residential units have in-unit laundry. Off street parking.
  • Occupancy: 100% occupied. Gross monthly rent $4,874.50.
  • Lot size: 16'8" x 95', more or less. Plat
  • Zoning: C-1, commercial. Approved for 4 dwelling units.
  • Title: In fee simple
  • Annual real estate taxes: $4,408.48

2405 Barclay Street, Baltimore, MD 21218:

  • Neighborhood: Barclay
  • Description: Three story semi-detached building arranged for 3 units. The unit mix includes 3 one-bedroom residential units. Units are self contained. Heat pumps and central air. Off street parking potential.
  • Occupancy: 100% occupied. Gross monthly rent $2,503.50.
  • Lot size: 15' x 86'9', more or less. Plat
  • Zoning: R-8 residential. Approved for 3 dwelling units.
  • Title: $97.50 annual ground rent
  • Annual real estate taxes: $3,658

2018 McCulloh Street, Baltimore, MD 21217:

  • Neighborhood: Druid Heights
  • Description: Three story inside-group building arranged for 3 units. The unit mix includes 3 one-bedroom residential units. Units are self contained. Gas forced air heat and central air. Gas water heaters. Units have in-unit laundry. Off street parking.
  • Occupancy: 100% occupied. Gross monthly rent $3,020.50.
  • Lot size: 16'5" x 120', more or less. Plat
  • Zoning: R-8 residential. Approved for 3 dwelling units.
  • Title: In fee simple
  • Annual real estate taxes: $1,656.72

2016 McCulloh Street, Baltimore, MD 21217:

  • Neighborhood: Druid Heights
  • Description: Three story inside-group building arranged for 3 units. The unit mix includes 2 one-bedroom and 1 two-bedroom residential units. Units are self contained. Gas forced air heat and central air. Gas water heaters. Units have in-unit laundry. Off street parking.
  • Occupancy: 67% occupied. Gross monthly rent $2,011, and $3,150.50 at full occupancy.
  • Lot size: 16'5" x 120', more or less. Plat
  • Zoning: R-8 residential. Approved for 3 dwelling units.
  • Title: In fee simple
  • Annual real estate taxes: $1,656.72

2014 McCulloh Street, Baltimore, MD 21217:

  • Neighborhood: Druid Heights
  • Description: Three story inside-group building arranged for 3 units. The unit mix includes 2 one-bedroom and 1 two-bedroom residential units. Units are self contained. Gas forced air heat and central air. Gas water heaters. Units have in-unit laundry. Off street parking.
  • Occupancy: 100% occupied. Gross monthly rent $2,731.20.
  • Lot size: 16'5" x 120', more or less. Plat
  • Zoning: R-8 residential. Approved for 3 dwelling units.
  • Title: In fee simple
  • Annual real estate taxes: $1,656.72

1918 McCulloh Street, Baltimore, MD 21217:

  • Neighborhood: Druid Heights
  • Description: Three story inside-group building arranged for 3 units. The unit mix includes 2 one-bedroom and 1 two-bedroom residential units. Units are self contained. Gas forced air heat and central air. Gas water heaters. Units have in-unit laundry.
  • Occupancy: 100% occupied. Gross monthly rent $2,872.50.
  • Lot size: 18' x 120', more or less. Plat
  • Zoning: R-8 residential. Approved for 3 dwelling units.
  • Title: $153 annual ground rent
  • Annual real estate taxes: $1,656.72

 

 

SUMMARY TERMS OF SALE:
Please see the Purchase Agreement for complete terms.
A $100,000 deposit, payable by 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 by wire transfer or cashier's check.  If the high bidder is an online purchaser, 10% of the purchase price is due by wire transfer or cashier's check at the Auctioneer's office, by 4:30 P.M. on the day of the auction. Deposit funds shall be held by A. J. Billig & Co., LLC. 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, 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 existing leases, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. 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. Members of the selling entity reserve the right to bid for their own account. The sale price includes the assumption of the existing Deed of Trust and Note with an approximate principal balance of $1,215,000. The balance due thereon will be deducted from the amount of cash due from the purchaser at settlement, pursuant to the assumption clauses in the Purchase Agreement. Security deposits shall be transferred at settlement. Time is of the essence.

No buyer's premium.