They key is to purchase buildings with individual heat. Buildings with central heat will often sell for less and are usually worth converting to individual heat.
Rents are typically good and access to transportation is excellent. It is one of the best neighborhoods for investors.
The answer really is specific to the particular building you're looking at. There are many tremendous opportunities in the South Shore neighborhood, and there is a quite a large rental market there as South Shore has absorbed a lot of folks who were displaced by the removal of some public housing. In 2007 I was the highest dollar sales volume agent in South Shore, so I'd be happy to help you investigate good buys in that neighborhood.
Call or email me at any time.
Broker Associate, Sudler Sotheby's International Realty