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If you always wanted a home with an indoor pool, this could be your chance. But before you jump in, there’s a catch. Well, more than one.
A foreclosed historic home in Baltimore, MD, is available for $139,900. It comes with an indoor pool, a diving platform, and open bathrooms—and it also has a rooftop garden and a ceiling of skylights.
“It’s very unusual, to say the least,” says Vincent DeLorenzo, a luxury homes sales and investment expert in the Baltimore area, who toured the property but does not represent the listing.
DeLorenzo came across the listing and posted a video tour of the property, which he dubbed “one of the strangest foreclosure properties I’ve ever been in.”
Not surprisingly, the video went viral, and DeLorenzo was contacted by people who had actually experienced the place back in the day. They had stories to share.
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Purchased in 1995 for about $25,000, it was procured as a party pad. The former owner sank hundreds of thousands of dollars into the townhouse and installed the pool. He then opened it up as what DeLorenzo described as “a bathhouse.”
“There’s no beds, no closets,” he says. “The reason the baths are wide open is because no one was ever meant to live there. It was just for his private use. Wild parties used to happen in the house.”
An indoor pool, open baths, and not much else inside? You do the math.
The 952-square-foot space is completely open, with the pool as its centerpiece. A spiral staircase, a metal catwalk, and a diving platform all surround the pool from above.
The kitchen has mosaic tile counters and stainless-steel appliances, as well as custom-poured concrete and metalwork. In addition, there’s an open bath next to the kitchen.
Historic details include original brick, a curved staircase, and a fireplace. Just two blocks from the water, the home is located in a historic neighborhood known as Fells Point, and is close to Inner Harbor attractions.
For a buyer ready to dive in, the bank-owned home is up for auction. A recent auction wound up with a high bid of $105,500—which failed to meet the set reserve price.
Which means the place is probably headed back to the auction block, unless an intrepid buyer wants to cough up the full asking price.
Since he posted the video, DeLorenzo has been contacted by investors who said they believed the space could make an ideal Airbnb. DeLorenzo cautions that the pool would probably need to be filled in.
“Most homes have an indoor pool in a separate, contained section of the house,” he said. “This is just open.”
Along with the obvious liability of the pool’s placement, he noted that air quality and mold could be an issue for the next owners if the pool stays in place.
While the home’s party days are probably over, there’s still a way to make a splash. Especially at the current price. Once the bank foreclosed on the home, it came onto the market last October for $175,000 and has dropped in price ever since.
“Someone could do something creative with the space. It’s a good deal, to tell you the truth,” says DeLorenzo. He notes that once the pool is filled in, the space could become a bedroom, which the home is currently lacking.
“It’s a good shell to work with. But the pool concept isn’t viable at all.”
We’re sorry to pour cold water on this hedonistic proposal. Even so, the historic home from 1850 now has a great backstory that the eventual buyers will be able to tell their friends. We can’t wait to see someone take the plunge.
The post Bizarre Baltimore Foreclosure Features Weird Indoor Pool for Only $140K appeared first on Real Estate News & Insights | realtor.com®.
source https://www.realtor.com/news/unique-homes/bizarre-baltimore-foreclosure-with-indoor-pool/
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