1849 E 29TH Street

Description

Investor Special: Unlock the potential of this prime Baltimore property at 1849 E. 29th Street, in the heart of a thriving neighborhood near Lake Montebello, Clifton Park, Morgan State University, and Northwood Commons.This mixed-use building features two spacious residential apartments (3BR/1BA and 2BR/1BA) and three storefronts. The apartments are near completion but require final updates, while the storefronts are unfinished and ready for customization. This is an exceptional opportunity for investors or owner-operators to generate steady rental income or establish a business presence.Before closing, and in accordance with receivership terms, the buyer must submit a renovation plan. The plan should outline proposed improvements and include a scope of work prepared by a licensed Maryland contractor, with a breakdown of repairs or upgrades needed to meet Use and Occupancy requirements, along with an estimated project timeline and budget. The seller has obtained court approval allowing any buyer to update only the upper dwelling units within one year. The storefronts can be addressed at the buyers discretion on their own timeline.Buyers must also provide documentation confirming financial capacity to complete the work. Acceptable proof includes a bank verification letter, a financial statement, or an account summary showing sufficient funds to complete the renovation as described.