If you are looking for a prime investment opportunity in Maryland, then this property might just be what you need. Located in the Centennial District, this investment property comprises of two lots that have been approved for subdivision by the county. Currently, the property has an existing house with a tenant in place whose lease will expire in June.
The good news is that the existing house can be removed to pave the way for the construction of a new one. The entire property is being conveyed to the buyer, including the lease agreement with the tenant in the home. However, before a building permit can be issued on Lot 17, the existing house will need to be removed.
The engineering process is almost complete, and the buyer will be responsible for the site development plan to build. Engineering plans are available for interested buyers to inspect. It’s worth noting that there is no access to the house or around the property, and appointments are required to visit the lot on Maxine Street only.
The total taxes on the property are for the current house on 1 acre, which stands at $6,623 per year. Therefore, it’s essential to note that the buyer will be responsible for the site development plan to build on the property. This investment opportunity is ideal for anyone looking to invest in real estate in Maryland’s Centennial District.
In conclusion, this Maryland investment property for sale is a great opportunity for anyone looking to build a new home in the Centennial District. With the county approval for subdivision already in place, the buyer only needs to develop a site development plan to start construction. Don’t hesitate to contact the seller to book an appointment to see the lot on Maxine Street.
MAXINE ( LOTS 17.18) ST, ELLICOTT CITY, MD 21042