359 Lowell, Somerville, MA 02145
- $1,044,900
- 2
- BD
- 3
- BA
- 4,326
- SqFt
- List Price
- $1,044,900
- Price Change
- ▼ $4,100 1728502944
- Status
- PRICE CHANGED
- MLS#
- 73291603
- Bedrooms
- 2
- Bathrooms
- 3
- Full Baths
- 2
- Half Baths
- 1
- Living Area
- 4,326
- Lot Size (Acres)
- 0.07
- Year Built
- 1910
Property Description
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.
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Additional Information
- Area
- Magoun Square
- Taxes
- $10,787
- Parking Description
- Paved Drive
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Ryan Taylor from Listing Office: Fortune RE.
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