About this home
Presenting 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.
Listing last checked: Listing updated:
Listed by Christopher Sower · Cushman & Wakefield · MLS #73552820
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Details at a glance
Interior1 property facts
- Basement
- Not reported
Building1 property facts
- Style
- Residential
Land & utilities5 property facts
- Lot size
- 0.92 acres
- Water
- Public
- Sewer
- Public Sewer
- Pool
- Not reported
- Zoning
- 99
Financial2 property facts
- Annual taxes
- $99
- Assessment year
- 2099
Location
Estimated monthly cost
Explore costs at the $7,000,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$35,404 / monthAdjust
- Principal & interest
- $35,396
- Property tax
- $8
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $99. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
More property insights
Automated value estimate $7,157,671
Estimated range $5,601,936–$8,713,406.
Automated estimates are not appraisals or guarantees of market value.
Request a professional market analysisPhoto-based condition insights
Overall presentation: above average
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About 501 Mystic Valley Parkway
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Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.
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