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108 Water St 0.45 Acres of Commercial Land in Watertown, MA 02472
Investment Highlights
- Fully approved for a 52-unit apartment/condo redevelopment project.
- Strategic connectivity to major roads, transit options, and employment hubs.
- Ideal opportunity for developers seeking immediate entry into a dynamic housing market.
- Prime infill location surrounded by established neighborhoods and retail amenities.
- High-demand residential market with strong absorption and rental growth projections.
Executive Summary
This 0.45-acre parcel offers an exceptional residential redevelopment opportunity with approvals in place for a 52-unit apartment or condominium project. Positioned in a vibrant, high-demand neighborhood, the site allows developers to bypass lengthy entitlement processes, making it a swift-to-market investment. The approved density provides strong revenue potential, catering to growing demand for multifamily housing among professionals, downsizers, and urban commuters seeking modern living environments.
With its strategic urban location, the property is close to major employment centers, retail amenities, and transportation corridors. This translates to lifestyle convenience for future residents and enduring value for developers and investors. The compact infill nature of the site supports efficient construction while tapping into excellent market fundamentals, including strong absorption rates and a sustained housing supply-demand imbalance.
Prepare to capitalize on an opportunity rarely available
With its strategic urban location, the property is close to major employment centers, retail amenities, and transportation corridors. This translates to lifestyle convenience for future residents and enduring value for developers and investors. The compact infill nature of the site supports efficient construction while tapping into excellent market fundamentals, including strong absorption rates and a sustained housing supply-demand imbalance.
Prepare to capitalize on an opportunity rarely available
Property Facts
1 Lot Available
Lot
| Lot Size | 0.45 AC |
| Lot Size | 0.45 AC |
Fully entitled 0.45 acre infill site approved for 52-unit apartment or condo development. Prime location near transit, retail, and employment hubs. In-place approved project minimizes delays and offers strong market potential for residential growth.
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Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Very bikeable
80/100
Property Taxes
| Parcel Number | WATE-000104-000018 | Improvements Assessment | $734,500 |
| Land Assessment | $814,100 | Total Assessment | $1,548,600 |
Property Taxes
Parcel Number
WATE-000104-000018
Land Assessment
$814,100
Improvements Assessment
$734,500
Total Assessment
$1,548,600
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108 Water St
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