359 Lowell, Somerville, MA

$1,177,500

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0.07

Acres

About 359 Lowell

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.

Features of 359 Lowell

MLS® # 73195919
Price $1,177,500
Bathrooms 0.00
Acres 0.07
Type Land
Sub-Type Residential
Status Active

Community Information

Address 359 Lowell
Area Magoun Square
City Somerville
County Middlesex
State MA
Zip Code 02145

Amenities

Is Waterfront No
Has Pool No

Interior

Fireplace No

Additional Information

Zoning MR4

Listing Details

Agent Ryan Taylor
Office Fortune RE
Buyer Agent Compensation 2
Compensation Based On Gross/Full Sale Price
Sub Agency Relationship Offered No

Listing Map

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