When we discussed HOTD 322 Park Place last week, we expressed the opinion that $2.2 million was a lot for a four-family; one commenter took exception to the idea that every buyer would want to convert the property to a one- or two-family house. Fair enough. But if we were a single person or couple looking to buy a four-family we could gradually grow into, we think today’s HOTD at 182 Washington Avenue looks a lot more interesting. The top three floors are rented out for a monthly rent roll of $5,075, which would cover at least $800,000 of mortgage payments. Given that 298 Washington, an architecturally rich two-family in a better block went for $1.6 million recently, we think this place (which also has a shallower-than-normal lot depth of 80 feet) will go for closer to $1.4 million rather than the $1.5 million asking price.
182 Washington Avenue [Craigslist] GMAP P*Shark