If you are looking for investment property in Maryland, you may want to consider the two lots for sale in the Centennial District. These lots have been approved for subdivision, and are currently on hold for building lot allocation and recordation. The existing house on the property has a tenant with a lease that expires in June, and the entire property, including the lease agreement, will be conveyed to the buyer.
While the existing home can be removed now and a new home built in its place, the buyer will be responsible for the site development plan in order to build. Engineering plans are available, and the engineering process is almost complete. However, access to the house and around the house is limited, and appointments are required to see the lot on Maxine Street only.
It is important to note that the existing house will need to be removed before the building permit can be issued on Lot 17. The taxes on the property are for the current house on 1 acre, which are currently $6623 per year. Additionally, parking on the driveway of the existing house is not permitted.
Investing in property can be a great way to build wealth, and these lots in the Centennial District offer a unique opportunity for buyers looking to develop their own property. With the subdivision already approved, and engineering plans available, the process of building a new home on this property should be relatively straightforward. However, buyers should be prepared to handle the site development plan and the removal of the existing house before building can begin.
If you are interested in this investment property for sale in Maryland, it is important to schedule an appointment to see the lot on Maxine Street. With the right planning and development, this property could be a great investment opportunity for the right buyer.
MAXINE ( LOTS 17.18) ST, ELLICOTT CITY, MD 21042