Manchester Land for Sale
Known as Manchester-by-the-Sea, this community is placed within Essex County,. As a part of Cape Ann, this community is widely known for its beautiful views and scenic vistas. Within this community investors will find vacant properties that are perfect for luxury condos, apartments or resorts.
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Land for Sale
The beautiful vistas are one of the most obvious attractions to buying land in this area. In addition, the region offers surprisingly affordable properties for a waterfront community. In the last year, the price of homes rose by 6.3 percent. Currently, the median home value is at $794,253. The median list price per square foot is presently at $412, which is higher than the Boston metropolitan area's average of $276.
Why Investing Is the Smart Choice
Known for its natural beauty, this town is a hot spot for investors. Like many waterfront communities, this city has a number of resort-style properties and luxury rentals. Because of the rising prices of single-family homes in the area, investors can easily find buyers for new developments. The seaside appeal also makes this area a potential site for resorts or tourism-related companies. Investors can also build shops and restaurants that cater to the vibrant community in the area.
In highly desirable areas like this city, the hardest part about buying a property is locating vacant land. Because of its proximity to Boston and luxury appeal, many vacant lots have already been purchased and developed. If you need help navigating the real estate market, Boston City Properties can help. Our team of real estate professionals can help you locate the property you need for your budget. To find out how our team can help you find your next property, call Boston City Properties today.
Discover a Desirable Location
Spanning a total of 18.3 square miles in size, this community is placed on the Massachusetts Bay's North Shore. Known for its beautiful, waterfront properties, this town has seven beaches that line the Atlantic Coast. In addition, several islands like House Island and Kettle Island are also included as a part of the city.
From the community, residents will find Salem just 9 miles away. It is placed 24 miles to the northeast of Boston. On the northwestern border, residents will find the community of Hamilton. Wenham and Beverly can be found on the western side of town. While Gloucester is on the east, Essex is located to the north of town.
Route 128 travels west to east through the center of the town. In addition, Route 128 has two exits within the community. Because of its proximity to Boston and Salem, many residents commute to work. There is also a growing commercial base in the community that employs some of the local residents.
Many Types of Developments Are Available
Finding the right property is not always easy. Before buying any real estate property, investors should make sure that it is zoned for their future business goals. In addition, it is important to consider the costs of financing, construction and similar fees. As long as the investor does their research in advance, they can find a vacant lot that can be used for their future investment strategy.
Depending on the area, investors can use this property for commercial or residential needs. Commercial properties are typically placed along main thoroughfares and the downtown area so that the business can easily attract shoppers. The investor can transform their lot into their own business, or they can rent it out to local companies. In addition, the investor can also transform the property into warehouses, factories or office space. From retail units to restaurant facilities, these vacant lots can be used for a number of different purposes.
Other than commercial options, investors can also use their lot for residential needs as well. A smaller lot can be used to create a single-family home. On larger lots, investors will often construct housing developments and apartment complexes. These rental units can be designed in styles like condos, townhouses or duplexes. If the units are rented out, the investor can gain a continued income stream from their investment. When the investor chooses to sell the units to prospective home buyers, they can gain a larger payment upfront.
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Land for Sale