They say location is everything. That’s probably why this Minneapolis home has sat on the market for seven months, despite its relatively low $190,000 price tag.
Described as “cozy” and “centrally located,” the home sits all by itself at 3530 Washington Avenue N, a tiny, triangular lot flanked by Interstate 94 on one side and industrial buildings on the Mississippi River on the other.
Put simply, it’s “the worst possible location,” according to local outlet Bring Me the News.
The home was built in 1917, long before neighboring farmland was developed for industrial use and the arrival of the interstate. A 1938 aerial shot of the neighborhood shows that the home was once quite nicely situated.
An aerial view of the property (Google Maps)
It was still on just a sliver of land between two roads, but immediately to the west was a large residential subdivision and to the right was farmland and the banks of the Mississippi.
A buyer may have upside, however. While the highway isn’t going anywhere, the city wants to redevelop the riverfront nearby industrial properties by adding a park, boardwalk and an outdoor music venue.
The first phase of the project includes mixed-income affordable housing with ground-floor commercial space just up the street from the home, as well as new commercial space nearby.
The 48-acre Upper Harbor Terminal project has been in the works for several years. If ultimately seen through, the project could spur more investment and development in the area.
Either way, there are plenty of homes around the globe in worse locations. Some people in China became something of celebrities for their refusal to move to make way for new developments after finding their homes surrounded by highways, towers, and other projects.
[Bring Me The News] — Dennis Lynch