24 W Emerson, Melrose, (Melrose Highlands), MA, 02176
17 rooms
7 beds
5 Full baths
1900
3,725 sqft
Building portfolio of properties for Sale. Rare opportunity Redevelopment of a Portfolio of Properties in an extraordinary location! Located on a common boundary line with Melrose Downtown Historic District, existing group of 4 adjoining parcels features 4 Victorian homes with 14 units, a private street, 2 multi-stall garage structures. Distinctive Property Design Features: Gable exterior roof designs at varying heights, high interior ceilings, front porches, oak and maple hardwood floors, and ornate detailing. Zoning allows for 21 units, with opportunity for additional units on approx. 0.75 acres. Mix of 1- and 2-bedroom apartments. The property is approximately 70% occupied. Lots zoned UR-D (Urban Residential ‘D’) allowing multifamily buildings to a density of FAR=1.0. Allowable height is 50 feet and 4 stories. Redevelop preserving the existing structures with square foot additions and interior renovations or build a completely new multifamily building (s)
Status:
Active
Town:
Melrose
Type:
Multi-family
Units:
5
Zoning:
UR-D
Garage:
4-car
Levels:
7
Parking:
5-car, Paved Drive
Acreage:
0.22
Est. Taxes:
$10,033
Assessment
$679,000
MLS #:
73306923
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Listing courtesy of Lisa Donfrancesco, Saint James Real Estate Advisors, LLC