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501 Mystic Valley Pkwy 0.92 Acres of Residential Land in Somerville, MA 02144
Investment Highlights
- Opportune Zoning Changes
- Proximity to Neighborhood Amenities
- Local Greenspace
Executive Summary
Cushman & Wakefield Multifamily Advisory Group is pleased to present the opportunity to acquire 501 Mystic Valley Parkway located in Somerville, Massachusetts. A proposed 0.92-acre site, for sixty-four (64) residential units.
The existing building on the property has been recently demolished and due to recent changes to Somerville’s zoning code 501 Mystic Valley now allows for multi-family development. This presents a rare opportunity to achieve significant density in a high-barrier-to-entry neighborhood.
Ideally situated in Somerville’s West Somerville neighborhood along Mystic Valley Parkway, the property boasts excellent access to local amenities, retail/shopping options, public transportation, major universities, and effortless access into or out of the city.
The existing building on the property has been recently demolished and due to recent changes to Somerville’s zoning code 501 Mystic Valley now allows for multi-family development. This presents a rare opportunity to achieve significant density in a high-barrier-to-entry neighborhood.
Ideally situated in Somerville’s West Somerville neighborhood along Mystic Valley Parkway, the property boasts excellent access to local amenities, retail/shopping options, public transportation, major universities, and effortless access into or out of the city.
Property Facts
1 Lot Available
Lot
| Lot Size | 0.92 AC |
| Lot Size | 0.92 AC |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | SOME-000002-A000000-000032 | Improvements Assessment | $1,640,500 |
| Land Assessment | $884,100 | Total Assessment | $2,524,600 |
Property Taxes
Parcel Number
SOME-000002-A000000-000032
Land Assessment
$884,100
Improvements Assessment
$1,640,500
Total Assessment
$2,524,600
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