359 Lowell Somerville MA 02145 MLS #73291603

359 Lowell
Somerville, MA, 02145
$1,044,900
2 Beds
2.5 Baths
4,326 SqFt
0.07 Acres
$1,044,900
359 Lowell
Somerville, MA, 02145
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.

Property Details

Price:
$1,044,900
MLS #:
73291603
Status:
Active
Beds:
2
Baths:
2.5
Address:
359 Lowell
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
Magoun Square
City:
Somerville
Listed Date:
Sep 18, 2024
State:
MA
Finished Sq Ft:
4,326
Total Sq Ft:
4,326
ZIP:
02145
Lot Size:
3,173 sqft / 0.07 acres (approx)
Year Built:
1910

Schools

Interior

Bathrooms
2 Full Bathrooms, 1 Half Bathroom
Cooling
Window Unit(s)
Heating
Central

Exterior

Parking Features
Paved Drive

Financial

Tax Year
2024
Taxes
$10,787
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Marie Andrews

Marie Andrews

Realtor®, Broker/Owner, GBREB, Notary Public

Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…

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359 Lowell
Somerville, MA