359 Lowell St Somerville, MA

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Lowell St, Somerville, Home For Sale

Price: $1,049,000
Address: 359 Lowell St
City: Somerville
State: MA
Zip:
Bathrooms: 2.5
Bedrooms: 2
Condition: Resale
Fee: No
Provided By: RealtyWW

Description:

UPDATED ZONING STUDY - 7 units /1 Affordable. Opportunity to acquire MR4 zoned parcel in Magoun Square, less than a 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 Streets 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.

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