Property Q&A in Edgartown>Question Details

Audrey, Home Buyer in 02421

is this property for sale? is there a house on the lot? are there any building restrictions to the property?

Asked by Audrey, 02421 Mon May 4, 2009

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This question is about this property: http://www.trulia.com/homes/Massachusetts/Edgartown/sold/680…

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3
Hi Audrey,
This substandard 7400sf lot is in an R20 area which means the min zoning is one-half acre. Deutsche Bank has owned the property since 2006; they took it for $128K, and it is assessed at $56K for 2009. I cannot imagine being granted a building permit, so it's only real value would to the abutter next door. Today I am starting to see buildable vacant lots on the market close to $200K. There is a half-acre lot for sale at #70 16th Street South in Edgartown with an ‘asking’ price of $215,000 and there are three lots in Oak Bluffs for sale under $200K. I hope this helps a little and good luck with your search.
Web Reference: http://www.SplitRockRE.com
0 votes Thank Flag Link Mon May 4, 2009
The variance was not approved and the bank is holding it. Not much value but I suppose someone could buy it as long term investment. Lots like this are bought and sold and have value if attached to other lots to create a buildable lot. The house next door to this lot is for sale priced at $329,900. Adding this lot could open some possibilities.
I am not sure who posted the first answer but please be aware there are over 150 properties currently for sale in Edgartown, not the three suggested. Searching in the following link should help.
0 votes Thank Flag Link Mon May 4, 2009
Unfortunately it is not on the market. This was a bank owned property that expired on 6/9/2008. Buyer needed to seek a variance to build on land.

Here is everything actively for sale in Edgartown:
http://www.territoryre.com/idx/search.html?search=true&s…
0 votes Thank Flag Link Mon May 4, 2009
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