845 Park Ave, Baltimore, MD 21201

Property Description

Rare opportunity to restore a piece of Mount Vernon's history! Built in 1880, this impressive historic townhome was once owned by a physician who operated his medical practice on the main level while living on the upper floors. The home was converted back to a private residence in 1987 and is ready for its next chapter. Priced to reflect its current condition, this townhome presents an outstanding renovation opportunity. The property requires a complete renovation, including major systems. There is an active roof leak, and the air conditioning system is not operational. Due to its current condition, the property is not expected to qualify for most conventional financing. Buyers should consult with their lender regarding available financing options. Located in the heart of Baltimore City's historic Mount Vernon district, this spacious townhome is surrounded by beautifully restored historic properties and offers endless possibilities for restoration. Renovations are subject to applicable CHAP (Commission for Historical and Architectural Preservation) guidelines. Buyers are encouraged to independently verify available historic preservation incentives and tax credit programs. Sale is subject to HUD approval as a reverse mortgage short sale. A short sale attorney has been retained and is actively working with the loan servicer and HUD throughout the approval process. The approval process may take six months or longer. If you've been searching for a historic Mount Vernon townhome with remarkable character and exceptional restoration potential, this is an opportunity you won't want to miss. Bring your vision and breathe new life into this classic Baltimore property. "Buyer agrees to pay a short sale processing fee of $6,000 or 2% of the purchase price, whichever is greater, to Capital Short Sale Group."