Development Opportunity in Boston

[Pete Schwan]

Convert from SF to 3 Condos. This single family property has tremendous resale potential due to proximity of the Red Line and UMass. This project would likely be either a) Renovation and addition or b) Tear down and rebuild. Located in a 3-Family residential subdistrict therefore up to 3 units is allowed. Also, in a restricted parking zone so off-street parking is not required. Would likely need to go through Board of Appeals for change of occupancy. Realistic resale price/sqft is $450. 2bed condos in this neighborhood are selling at $425K.