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.
— MLSPIN #: 73291603Map of 359 Lowell, Somerville, MA 02145
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| List Price: | $1,044,900 |
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| Status: | Active |
| MLS ID: | 73291603 |
| Town: | Somerville |
| Neighborhood: | Magoun Square |
| County: | Middlesex |
| Zip: | 02145 |
| Property Type: | Residential |
| Property Sub Type: | Single Family Residence |
| Bedrooms: | 2 |
| Full Baths: | 2 |
| Half Baths: | 1 |
| Living Area: | 4,326 sqft |
| Acres: | 0.07 |
| Taxes: | 10,787 |
| Cooling: | Window Unit(s) |
| Heating: | Central |
| Parking Features: | Paved Drive |
| Status: | Active |
| Water Source: | Public |
| Year Built: | 1910 |
| Directions: | Google Maps |
| Foundation Details: | Concrete Perimeter |
| Listing Contract Date: | 2024-09-18 |
| Cooling?: | Yes |
| Heating?: | Yes |
| Lot Size Area: | 0.07 |
| Lot Size Square Feet: | 3,173 |
| Rooms Total: | 7 |
| Bathrooms Total Integer: | 3 |
| Building Area Source: | Public Records |
| Building Area Total: | 4,326 |
| Levels: | Multi/Split |
| Living Area Units: | Square Feet |
| Lot Size Units: | Acres |
| Open Parking?: | Yes |
| Parcel Number: | 753403 |
| Sewer: | Public Sewer |
| Zoning: | MR4 |
| Year Built Source: | Public Records |
| Disclosures: | Property Owner has interest in Fortune RE |
| Farm Land Area Units: | Square Feet |
| Listing Agreement: | Exclusive Right To Sell |
| Disclosure: | Yes |
| Dpr Flag: | No |
| Lead Paint: | Unknown |
| Listing Alert: | No |
| List Price Per Sqft: | $241.54 |
| Page: | 1 |
| Price Per Sqft: | $241.54 |
| Square Feet Incl Base: | No |
| Original List Price: | $1,049,000 |
| Tax Assessed Value: | $1,025,400 |
| Tax Year: | 2024 |
| Year Built Details: | Actual |
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The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting 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, leasing or renting. 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, or as to the accuracy of any of the Images, set forth herein.
MLS Property Information Network, Inc. data last updated on November 23, 2024 08:44 AM
Property Last Updated: October 13, 2024 03:10 AM
Listing Courtesy of: Fortune RE
Listing Agent: Ryan Taylor
774-270-4020
