Price Reduction
Address
359 Lowell, Somerville, MA
Price
$ 1,195,000
Property Attributes
- MLS#73195919
- TypeLand
- CountyMIDDLESEX
- CitySomerville
- AreaMagoun Square
- Zip02145
- StyleLevel
- Taxes$ 10787
- Price$ 1,195,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size3,049 SqFt
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
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.
| Price History | |
|---|---|
| 1/23/2024 | Listed $1,369,000 |
| 3/20/2024 | 7% - $1,279,000 |
| 4/9/2024 | 5% - $1,225,000 |
| 4/25/2024 | 3% - $1,195,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Zoning | MR4 |
| Gas Y/N | On-Site |
| Electric | On-Site |
| Property SubType | Residential |
| Tax Year | 2024 |
| County | Middlesex |
| Property Type | Land |
| HOA / Comm Assn | No |
| Status | Active |
| Directions | Google Maps |
| City | Somerville |
| Disclosures | Property Owner has interest in Fortune RE |
| Senior Community Y/N | No |
| MLS Area | Magoun Square |
| Lot Size Square Feet | 3173 |
| Waterfront Y/N | No |
| Street Name | Lowell |
| Tax Annual Amount | 10787.21 |
| Home Warranty Y/N | No |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Tax Assessed Value | 1025400 |
| Compensation Based On | Gross/Full Sale Price |
| Sub-Agency Relationship Offered | No |
Interior Features
| Electric On Property Y/N | Yes |
|---|
Exterior Features
| Lot Features | Level |
|---|---|
| Water Source | Public |
| Lot Size Area | 0.07 |
| Lot Size Acres | 0.07 |
| Lot Size Units | Acres |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Land Average in 02145
Price
Taxes
Visits
Massachusetts MLS Property Info Network (MLSPIN) - The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and
