Riverside Bidding War (So What Else Is New?)

21 Winthrop Drive, Riverside. Asked $3.450M. Got $3.7M.

21 Winthrop Drive, Riverside. Asked $3.450M. Got $3.7M.

21 Winthrop Drive is only the latest example of the hot, hot Riverside market. This was a 1948 colonial, no updating, on 32,234 square feet of land in the R-12 zone (min. lot size 12,000 sq. ft.) so the buyer, presumably a builder, gets two oversize lots, 16,117 sq.ft., each.

Can you make money on this street, paying $1,850,000 per lot? Well, the last two sales on the street, including this one, and one that just went to contract (both listed by broker Jean Dana) were in the $4M’s, so yes, I think a builder can make money there.

List: Mairead O’Sullivan

Sell: Lisa Gabriele

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