$1,044,900
2 Beds
2.5 Baths
4,326 SqFt
0.07 Acre Lot
3,173 Sqft Lot
Status Active
Property Type Single Family Residence
Price Type
Year Built 1910
Neighborhood
Days on Website 48

Property Map

$1,044,900 – 359 Lowell, Somerville, MA 02145

Street View

Courtesy of Fortune RE, Ryan Taylor.

Description

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 and Features

Bathrooms

  • 2 full bathrooms
  • 1 half bathroom
  • 2.5 total bathrooms
  • 3 total bathrooms

Bedrooms

  • 2 bedrooms

Building

  • Building Area Total: 4326
  • Building Area Units: Square Feet
  • Living Area: 4326
  • Year Built Source: Public Records
  • Year Built: 1910

Cooling

  • Cooling: “Window Unit(s)”
  • Cooling Included

Foundation

  • Foundation Details: “Concrete Perimeter”

Heating

  • Heating: “Central”
  • Heating Included

Lot

  • Lot Size Acres: 0.07
  • Lot Size Area: 0.07
  • Lot Size Square Feet: 3173
  • Lot Size Units: Acres
  • Parcel Number: 753403

Parking

  • Parking Features: “Paved Drive”
  • Parking Total: 0
  • Open Parking

Property

  • Property Sub Type: Single Family Residence
  • Zoning: MR4

Sewer

  • Sewer: “Public Sewer”

Taxes

  • Tax Annual Amount: 10787.21
  • Tax Year: 2024

Utilities

  • Water Source: “Public”

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