Major price improvement. Four-story corner property in need of refurbishment located at the intersection of Mulberry Street and Park Avenue in Baltimore's downtown neighborhood. Sale is subject to receivership terms. Before closing, the City will need to see proper documentation of the Buyer's ability to rehabilitate. We will accept either a LOI or MD Realtor contract. The property offers impressive square footage and allows versatile potential, having been used previously as both a law office and art studios.The C5-HT zoning allows for flexible division of the space, accommodating either mixed residential or commercial use. Buyer is responsible to confirm intended use. The interior is full of possibility, featuring south-facing rooms with tall ceilings and abundant natural light. Built-in bookcases, a remnant of the property's law office days, add a unique charm. Currently, the configuration is ideal for studios or offices with a street level gallery. Its prime location offers close proximity to the central Pratt Library, the Bromo Arts and Entertainment District, the Mt Vernon Marketplace, and Baltimore's Chinatown. Under terms of receivership filing, prior to closing, the City would like to see a detailed rehabilitation plan from the proposed buyer. The plan should include a scope of work from a licensed Maryland contractor on letterhead with the MHIC number, and an itemized list of what the property needs to be brought up to a Use & Occupancy standard. The plan should also include a time estimate and a cost estimate. Based on the cost estimate, the City will need to see proof of financing. This can be a letter from a bank, a snapshot from an account, or something that shows they have the financial ability to complete the project as outlined.
| 5 months ago | Listing updated with changes from the MLS® |
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