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Columbia Street 2 BR- Is this a good investment?

Started by ert123
almost 16 years ago
Posts: 3
Member since: Feb 2010
Discussion about
Hi- I am in the market for a two bedroom. I have an opportunity to buy a 2 BR in the Columbia Street Waterfront District for 430K, with the seller paying closing costs. The kitchen needs to be redone, and the bathroom (which is the only room w/o a window) needs some updating also. Is this a good investment? If we sign this week we'll get the 1st time homebuyers credit which is a bonus but the apt. does not have much character. It is in the Columbia Terrace complex. Please let me know what you think! Any advice would be appreciated.
Response by ab_11218
almost 16 years ago
Posts: 2017
Member since: May 2009

if you're talking about the 880 sq ft condos around President/Union St, that is the lowest price that I've seen in a while. they typically go for low $500K. i still kick myself sometimes for not buying one of those with a parking spot in 2000 for $175K. oh well.

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Response by hjl
almost 16 years ago
Posts: 16
Member since: Oct 2006

you can get $2000 for rent and these condos have low monthlies. not a terrible investment imo.

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Response by ert123
almost 16 years ago
Posts: 3
Member since: Feb 2010

it's 765 approx square feet.

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Response by ab_11218
almost 16 years ago
Posts: 2017
Member since: May 2009

i guess i was wrong.. it has been a long time. what i remember is that the living space was ok. the kitchen was "california style" and the bedrooms were small. all in all, better then smaller 1 brs and you belong to a fantastic school.

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Response by lizyank
almost 16 years ago
Posts: 907
Member since: Oct 2006

I had to laugh really hard when I saw this thread. Columbia St by the waterfront in the 1980s was one of the best, but least publicized, places in the city to buy drugs. Not that I had any first hand experience...of course...people just told me.

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Response by evnyc
almost 16 years ago
Posts: 1844
Member since: Aug 2008

Yeah, right, liz! We know better...

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Response by ert123
almost 16 years ago
Posts: 3
Member since: Feb 2010

thanks for the feedback. at least now we know where to score some dope if the apt. doesn't work out. ;)

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