These Boston Parking Spots Cost More Than My House in New Bedford
I've seen some pretty outlandish things on the internet, but this one tops the charts.
In Boston, it's not unheard of to rent out a parking spot for an absurd about of money, but when some of these spots are worth more than the price of my house here in New Bedford, that's a hard pass for me.
Talk about a reality check. Who knew that space could be worth so much money? Let's just say that I was "today years old" when I discovered the true potential of parking spot investments.
This condominium in particular was built in 2002 and can be found at 1313 Washington Street in Boston. Within the walls of this modern structure are parking garages that are bringing in some serious dough. Imagine being the person who gets to collect the rent at the end of each year?
Speaking of rent, although these spots are no longer available like they once were on the Zillow Market, they were still a pretty penny before settling for a cheaper offer. Even then it was still worth more than the price of my house.
What started off at a selling price of $225,000 for a couple of these spots (see below), the seller reposted and settled for a bargain of $185,000. Still, before renovations, my house was much less than that. The two spots for sale were taken off the listings at 20 percent below the original asking price, still becoming a profitable piece of real estate.
You just won't see me taking out a loan for it, that's for damn sure. No wonder this was posted on "Zillow Gone Wild." his type of market is unfathomable.