$1,049,000 ($242.49 per sqft)

Est. Mortgage $4,964/mo *

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359 Lowell, Somerville, (Magoun Square), MA, 02145

359 Lowell, Somerville, (Magoun Square), MA, 02145
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7 rooms

2 beds

2 Full / 1 Half baths

1910

4,326 sqft

UPDATED ZONING STUDY - 7 units /1 Affordable. 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. . Seller and Broker make no representations, expressed or implied with respect to the development potential of the property.

Status:

Active

Town:

Somerville

Type:

Single-family residential

Zoning:

MR4

Heating:

Central

Cooling:

Window Unit(s)

Parking:

Paved Drive

Acreage:

0.07

Est. Taxes:

$10,787

Assessment

$1,025,400

MLS #:

73291603

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Ryan Taylor, Fortune RE Phone: 617-874-1000