1) A neighborhood with a high concentration of douchebags. See also: Allston, Williamsburg, and The Mission District of SF.
2) The residence of a douchebag.
Guy 1:Allston is a shithole; you can't walk without tripping over an emaciated PBR chugging trust-funder wearing a ratty hoodie and skinny jeans.
Guy 2: Yeah, it's a Douchebog.
Passing hipster: *drinks PBR, vomits on self*