MA > Somerville
Somerville, MA 02145,359 Lowell Street
Somerville, MA 02145,359 Lowell Street
Somerville, MA 02145,359 Lowell Street
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BHRE Brad Hutchinson Real Estate

BHRE Brad Hutchinson Real Estate

+1(781) 665-2222
$1,044,900
Est. payment /mo
3,049 Sqft Lot
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UPDATED:

10/13/2024 07:05 AM

Key Details

Property Type Vacant Land

Sub Type Residential

Listing Status Active

Purchase Type For Sale

MLS Listing ID 73294937

HOA Y/N false

Annual Tax Amount $10,787

Tax Year 2024

Lot Size 3,049 Sqft

Acres 0.07

Property Description

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.

Location

State MA

County Middlesex

Area Magoun Square

Zoning MR4

Direction Google Maps

Building

Lot Description Level

Sewer Public Sewer

Water Public

Others

Senior Community false

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Listed by Fortune RE
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At Brad Hutchinson Real Estate, our main goal is simple: to assist buyers and sellers with making the best, most knowledgeable real estate decisions that are right for you. Whether you’re searching for houses for sale, commercial investment opportunities, or apartments for rent, our independent, committed staff is ready to assist you. We have over 60 years of experience serving clients in and around Melrose and Boston's North Shore.

+1(781) 665-2222

sales@bradhutchinson.com

193 Green Street, Melrose, Massachusetts, 02176, United States

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359 Lowell Street