Saturday, January 30, 2010

Proximity to Multifamily Buildings

This nice Elmwood Park bungalow is located on a major arterial street, it faces commercial property and is flanked on both sides by apartment buildings.

Now this may be a great location for an apartment building, however, the proximity to all this external obsolescence makes it a bad location for a single family home.

The value of a single family home is maximized when it is surrounded by other similar residences.

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