Boston Luxury Condos and Apartments
355 Boylston St / (617) 233-5800

359 Lowell

Magoun Square - Somerville, MA ID #73213426

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359 Lowell

Magoun Square - Somerville, MA ID #73213426

Property Description

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.

Additional Details

  • Status: ACT
  • Type: Single Family, Single Family Residence
  • Area: Magoun Square
  • Zip Code: 02145
  • Taxes: 10,787
  • Levels: Multi/Split
  • Acres: 0.07
  • Buying Broker Compensation: 2

Parking

  • Parking: Paved Drive

Rooms/Dimensions

  • Total Rooms: 7

Location

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359 Lowell, Somerville, MA

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The information in this listing was gathered from third party resources including the seller and public records. Listing information provided courtesy of Ryan Taylor of Fortune RE. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.