Pending
Under Agreement
359 Lowell
Somerville MA, 02145
$1,044,900
$241.54 per sqft
Pending
Under Agreement
2 Beds
3 Baths
4,326 sqft
Residential
Built in 1910
UPDATED ZONING STUDY - 7 units /1 Affordable. Opportunity to acquire MR4 zoned parcel in Magoun Square, less than a 1/4 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.
73329727
MLSⓇ ID
January 27, 2025
Listed
January 28, 2025
Updated
Map
359 Lowell
Somerville MA, 02145
Interior Features
Bedrooms
2
Total Bathrooms
3
Full Bathrooms
2
Half Bathrooms
1
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.07 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Magoun Square
Taxes
$10,787
Tax Frequency
Annually
Days on Market
10
Garage
No
Parking
Paved Drive
Parking Total
0
View
No
County
Middlesex
Water Source
Public
Pool
No
Zoning
MR4
Courtesy of Ryan Taylor, Fortune RE
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Data last updated 12:17 AM UTC, 1/28/2025
