Active
359 Lowell Street
Somerville MA, 02145
$1,044,900
$329.31 per sqft
Active
0.07 Acres
Land
Opportunity to acquire MR4 zoned parcel in Magoun Square, less than a 1/4 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.
73294937
MLSⓇ ID
September 25, 2024
Listed
November 22, 2024
Updated
Map
359 Lowell Street
Somerville MA, 02145
Exterior/Building Features
Lot Size
0.07 Acres
Lot Features
Level
Sewer
Public Sewer
Other Property Details
Area Name
Magoun Square
Taxes
$10,787
Tax Frequency
Annually
Days on Market
18
Garage
No
View
No
County
Middlesex
Water Source
Public
Pool
No
Zoning
MR4
Listing History
Date | Event | Price |
|---|---|---|
10/9/2024 | Price change | $1,044,900 -1% |
Courtesy of Ryan Taylor, Fortune RE
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Data last updated 11:23 PM UTC, 11/22/2024
