496 Medford Street, Somerville $1,150,000

Sale Type: For Sale Beds: 2 Baths: 1.50 Ft2: 1,244 Lot Size: 2,240 Lot Acres: 0.05 Ref #: 73436389

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Prime TOD opportunity in Somerville's vibrant Magoun Square, steps from the Green Line Extension. This 2,240 SF MR-4 zoned lot with Pedestrian Street Overlay allows up to 4 stories-ideal for a mixed-use project with approx. 6 residential units above ground-floor commercial or amenity space. No parking requirements and flexible design standards support a walkable, transit-friendly concept aligned with the city's smart growth vision. The lot's dimensions allow for modern condo or townhouse-style layouts. Ground floor and basement are well-suited for retail, amenities, or storage, maximizing value and livability. Zoning analysis completed-developers can move quickly to design and permitting. A rare blend of timing, location, and zoning flexibility in one of Greater Boston's most in-demand neighborhoods. Strong market comps, buyer demand, and local precedent make this a standout infill opportunity.

Details

Beds
2
Baths
1.50
Ft2
1,244
Lot Size
2,240
Lot Acres
0.05
Lot Type
City View(s),Level
Heat
Steam,Oil
Cooling
None
Tax
$8,708
Year Built
1920
Listing provided courtesy of Abhinay Patel, Lamacchia Realty, Inc.