359 Lowell, Magoun SquareSomerville, MA 02145MLS Number 73195919

  • Price: $1,169,000
  • Est. Mortgage of $/month
  • 123 Days on Market
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Federal 30-year interest rate: 6.94% last updated on May 23, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145359 Lowell Somerville MA 02145
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  • 0.07Acreage
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.
Listed by Ryan Taylor of Fortune RE

Driving Directions

Colonial Manor Realty
Colonial Manor Realty
Office: 781-844-9371
127 Franklin St
Reading, MA 01867

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More Info

Basic Information

  • Lot Features Level
  • Mls StatusActive
  • Parcel Number 753403

Building

  • Building Area Units Square Feet

Utilities

  • Electric On-Site
  • Electric On Property YN Yes
  • Gas On-Site
  • Sewer Public Sewer
  • Water Source Public

Other

  • Buyer Agency Compensation2
  • Date Listed01/23/2024
  • Farm Land Area Units Square Feet
  • View Count6

Tax Information

  • Tax Assessed Value $1,025,400
  • Tax Year 2024
  • Taxes$10,787

Location

  • Address359 Lowell
  • Building Number359
  • CountyMiddlesex
  • NeighborhoodMagoun Square
  • StateMA
  • StreetLowell
  • SubdivisionMagoun Square
  • TownSomerville
  • Zip02145

Basic Information

  • List Price$1,169,000
  • MLS Number73195919
  • Modification Date05/24/2024
  • Property SubTypeResidential

Property

  • Acreage0.07

Property Information

  • Lot Size Square Feet 3,173
  • Lot Size Units Acres
Listed by Ryan Taylor of Fortune RE

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. 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 or leasing 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 or leasing. MLSPIN 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.

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