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359 Lowell

Somerville, MA 02145
  • $1,225,000
  • STATUS: Price Changed
  • MLS #: 73213426
Price Reduced
$1,225,000
  • 2
    BEDS
  • 0.07
    ACRES
  • 2
    BATHS
  • 1
    1/2 BATHS
  • 4,326
    SQFT
  • $283
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1910
County:

School Ratings & Info

Listing courtesy of Ryan Taylor of Fortune RE.

Description

Opportunity to acquire MR4 zoned parcel in Magoun Square, less than a 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.

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2024-04-21T11:05:32.253.
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359 Lowell Somerville, MA 02145

  • Price: $1,225,000
  • Status: Price Changed
  • On Site: Days
  • MLS #: 73213426
2
Beds
2
Baths
1
½ Baths
0.07
Acres
4,326
SQFT
$283
$/SQFT
1910
Built
Neighborhood:
Magoun Square
County:
Middlesex
Area:
Magoun Square
Property Description
Opportunity to acquire MR4 zoned parcel in Magoun Square, less than a 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.
Exterior Features

Covered Spaces 0 Garage YN No Levels Multi/Split Open Parking YN Yes Parking Features Paved Drive Parking Total 0 Property Attached YN No Spa YN No Waterfront YN No

Interior Features

Building Area Total 4326 Cooling Window Unit(s) Cooling YN Yes Fireplace YN No Fireplaces Total 0 Foundation Details Concrete Perimeter Heating Central Heating YN Yes Lead Paint Unknown Rooms Total 7

Property Features

Association YN No Buyer Agency Compensation 2 Disclosures Property Owner has interest in Fortune RE Home Warranty YN No Property Sub Type Single Family Residence Senior Community YN No Sewer Public Sewer Tax Annual Amount 10787.21 Tax Year 2024 Transaction Broker Compensation 0 Water Source Public Year Built Details Actual Zoning MR4

Listing information © 2024 MLS Property Information Network. All information is deemed reliable but should be independently verified.
Listing provided courtesy of Ryan Taylor of Fortune RE: 617-874-1000.


The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2024-04-21T11:05:32.253.
 
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Listing courtesy of Ryan Taylor of Fortune RE.