359 Lowell Somerville, MA 02145
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.
- Property TypeSingle Family Home
- NeighborhoodN/A
- CountyMiddlesex
- Taxes$10,787
- HOA/Condo/Coop Fees$0
- Days on Site63 Days
- MLS StatusActive
- MLS ID Number73213426
- Home Size Source Public Records
- Year Built1910
- Lot Size0.07 Acres
- Full Baths2
- Partial Baths1
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General Features
- Parking Paved Drive
- Parking Spaces 0
- Sewer Public Sewer
- Number of Stories Multi/Split
- Acreage 0.07
- Water Public
- Property Sub Type Single Family Residence
- Garage Spaces 0
- Foundation Concrete Perimeter
- Zoning MR4
- Buyer Agent Compensation 2
- Facilitator Compensation 0
- Compensation Based On Gross/Full Sale Price
- Sub-Agency Relationship Offered No
- Garage 0
- Parking Features Paved Drive
Interior Features
- Cooling Window Unit(s)
- Heating Central
- Fireplaces 0
- Fireplace No
Exterior Features
- Spa No
- Waterfront Property No
Community Features
- Senior Community No
- MLS Area Magoun Square
- Adult Care Community No