14
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$1,044,900
Est. payment /mo
3,049 Sqft Lot
Price Dropped by $4K
359 Lowell Street Somerville, MA 02145
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UPDATED:
10/13/2024 07:05 AM
Key Details
Property Type Vacant Land
Sub Type Residential
Listing Status Active
Purchase Type For Sale
MLS Listing ID 73294937
HOA Y/N false
Annual Tax Amount $10,787
Tax Year 2024
Lot Size 3,049 Sqft
Acres 0.07
Property Description
Opportunity to acquire MR4 zoned parcel in Magoun Square, less than a ¼ mile from the newly opened Magoun Square GLX station. The 3,173 SF parcel abuts 3/4 of an Acre of MR4 zoned parcels on all sides and currently has a 4,350 SF existing structure generating $4,132/month with leases ending 8/31/24. An initial massing study indicated a 4-story 6,375 SF structure consisting of up to 8 units may be feasible. 359 Lowel Street’s proximity to Magoun Square station is situated within a Transit Zone affording no minimum parking requirements.Existing structure consists of Two Levels, 2,150 SF each. Renovated 2 Bed 2 Bath unit on the top floor and flex/open space on the first floor. Great ceiling height on both floors. Lots of possible options to increase value over the term of ownership. Prospective Purchasers should verify all development feasibility independently. Seller and Broker make no representations, expressed or implied with respect to the development potential of the property.
Location
State MA
County Middlesex
Area Magoun Square
Zoning MR4
Direction Google Maps
Building
Lot Description Level
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Fortune RE
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