A Cambridge property with an unsightly eyesore that’s actually collapsing might presumably be yours for a cool $1.8 million.
That’s the present itemizing worth for 142 Amory St., positioned within the depraved scorching Inman Square, the place properties with a “dilapidated crumbling house” can go for near $2 million.
“It’s one of the most in-demand neighborhoods in the whole country,” Moises Martinez, who’s on the itemizing group for the property with Senné Real Estate, advised the Herald on Tuesday. “It’s a real hotspot that draws a lot of people to the area.”
“We’ve already gotten one offer,” Martinez later added, lower than 24 hours after the eyesore hit the market.
The current collapsed construction is being eliminated, and the client will obtain a vacant lot that’s round 4,000 sq. toes.
“It’s a dilapidated crumbling house, so what’s being sold here is the land to build more in-demand housing,” Martinez stated. “There’s just not enough housing, which is why it commands that price.”
Up to 4 models may very well be constructed on the property, with a complete buildable ground space of as much as 4,360 sq. toes.
“The house has been in a decrepit state for quite some time,” Martinez stated. “The neighbors will certainly be happy that something new will go up there, and there will be housing.”
With the latest change to Cambridge zoning, no off-street parking could be required on the property.
Martinez, who grew up in Inman Square, known as the world an “amazing neighborhood” that has gone via a serious transformation over time.
Many landlords purchased properties there a number of years in the past in anticipation of the Green Line Extension in close by Union Square, which is one other perk for consumers.
“That’s a big draw as well,” Martinez stated.
This itemizing from Senné comes after the actual property agency bought a dilapidated residence at 127 Western Ave., for greater than $2 million a few weeks in the past. That property in Cambridge’s Riverside neighborhood, close to Central Square, is greater than 6,000 sq. toes.
The property with the condemned residence was bought for $2.3 million, which was over the asking worth.
Martinez stated, “We listed it for a reasonable fair price, and somebody thought it was worth more than that.”
Source: www.bostonherald.com”