MLS# 73291603 – 359 Lowell, Somerville, MA 02145

$1,044,900 - 2Br/3Ba - for Sale in Somerville

Price: $1,044,900

Beds: 2

Baths: 2 full, 1 half

Living Area SqFt: 4,326

Status: Active

Property Type: Single Family Residence

Lot Size Acres: 0.07

Lot Size SqFt: 3,173

Year Built: 1910

Days on Website: 48

Courtesy of Fortune RE, Ryan Taylor.

Property 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”

Property Map

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

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