The age-old realty mantra of “location, location, location” is ringing true yet again in the case of a once-posh Boston area home on the market, declared “unlivable” after a devastating fire, and receiving multiple bids on its $600,000 listing.

On June 14, the Boston Globe reported that so many offers have poured in for the 504 Lebanon St. property in Melrose, Mass., that the owner has bumped the listing up by $50,000. The 2,690-square-foot house on a quarter of an acre now poses a “unique development opportunity” for the right buyer.


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