Marathon Real Estate LLC
Veterans United Homefront
14 Photos

359 Lowell, Somerville, MA 02145

$1,049,000 Asking Price

2 beds
3 baths
4,326  sqft
Built in 1910

UPDATED ZONING STUDY - 7 units /1 Affordable. 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. . Seller and Broker make no representations, expressed or implied with respect to the development potential of the property.


Listing Status:
Active
Date Added:
September 18, 2024 — 3 days ago
Listing Office:
Fortune RE, Ryan Taylor (774-270-4020)
Office Phone:
617-874-1000
MLS ID:
73291603

Features & Amenities

Interior

A/C:
true, Window Unit(s)
Heating:
true, Central
Fireplace:
Fireplaces: 0

Exterior

Parking:
Paved Drive

Construction

General:
Multi/Split, Concrete Perimeter

Location

Originating MLS:
MLS Property Information Network
County:
Middlesex

Lot

Zoning:
MR4, 753403

Utilities

Water:
Public
Sewer:
Public Sewer

Financial

Source:
MLS Property Information Network

This listing courtesy of:
Fortune RE, Ryan Taylor

About Somerville, MA

Housing

Number of Units
36,944
Median Home Value
$725,208
Median Rent
$1,762

66.01% of housing units are renter occupied.

4.98% are vacant.

Commute

Car
27.80%
Public Transportation
20.52%
Walk to Work
7.05%
Work from Home
39.27%
Other
0.58%

The median travel time to work is 21 minutes.

People

Population
78,826
Median Age
33.00
Median Household Size
2.55

Education

High School
13.05%
Associate’s Degree
2.76%
Bachelor’s Degree
34.06%
Graduate Degree
33.01%

Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.

Veterans United Homefront

Marathon Real Estate LLC 8 Cunningham Street, Hopkinton, MA 01748 - 617-549-5024 - Serving Hopkinton and great Middlesex County

IDX Disclaimer: 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 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. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last Updated: September 21, 2024 2:52 am.

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