Both Properties Are Available Together, As A Package, For:
$390,000.00
Importantly, the 1508 Amherst St property is zoned RO1-Residential Office District. The current use is residential, however, virtually all of the neighboring properties on Amherst St are commercial properties, many of which are doctors' offices because of the very close proximity to the Winchester Medical Center hospital. This potentially adds a very profitable commercial use possibility for this property.
Both properties have residential tenants on short term leases and these tenants would like to stay, if you choose. These leases can be renewed, renegotiated, or terminated, depending on your needs. The tenants currently pay $1,050 (the Fox house, which is close to market rent value) and $1,250 (the large Amherst house, where the rent could easily be increased by $500+).
At this price, the properties are significantly below the tax assessment and here are what a few of the online resources believe the properties are worth together:
Zillow.com $451,476
Trulia.com $451,476
Redfin.com $454,020
Realtor.com $476,000
Homefacts.com $509,600
