How much would you pay for this "As-Is" Triple Decker in Boston?

[Venice Victory]

Triple Decker - Complete Gut Rehab

The numbers never lie and the description is very interesting since this is probate matter. I am interested in learning what is the most you would pay for this property? More importantly why?

In my opinion, considering the condition and all the risk that comes along with a property built in 1910 - $500K would be my offer.

There are deed restrictions that prevents expansion and optimal use of the yard.

Rehab costs for a full gut rehab approximately $650K conservatively, assuming there are no structural issues. Worst case scenario rehab costs is hard to account for since a structural damage can warrant for a demolition. 

I would love to know your thoughts, ideas and suggestions. 

Deal or No Deal??!

[Tom Wagner]

To me the value hinges on the value of the rear lot. If you are able to sell individually or build a triplex in that area it has significant value, and if not I would pass on this property at ~any price. Having done a full-gut rehab of a fourplex previously I have virtually zero interest in doing that again without significant ($200k+) in day one equity upon stabilization.