If you’re looking for investment property in Maryland, you may be interested in the two lots available in the Centennial District. The county has already approved the subdivision, making it easier for the buyer to proceed with the building permits and recordation of the lots. The existing house on the property is currently leased until June, which means that the tenant is already generating income for the buyer.
The good news is that the existing house can be removed at any time to make way for a new home. This is great news for investors who are looking to build a new residential property in a highly sought-after area. The property is being sold as a whole, which means that the lease agreement with the tenant will be transferred to the new owner.
The engineering process is nearly complete, which also makes it easier for the buyer to proceed with the site development plan needed to build on the property. Engineering plans are already available, making it easier for investors to visualize the final product. However, the buyer will be responsible for the site development plan, which means that they will need to consult with a professional engineer to ensure that the new construction meets all the local regulations.
It’s important to note that there is no access to the house or around the house for safety reasons. An appointment is required to view the lot on Maxine Street only. This is also a reminder that parking on the existing driveway is not permitted.
Finally, the taxes on the property are for the current house on one acre, which is $6623 per year. This can be a helpful piece of information for investors who are trying to calculate the potential return on investment.
In conclusion, the two lots available in the Centennial District of Maryland offer a unique investment opportunity for those looking to build a new residential property in a highly sought-after area. With the county’s approval for subdivision, and the lease agreement with the tenant already in place, investors can move forward with confidence. However, it’s important to consult with a professional engineer and follow all local regulations to ensure a successful project.