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Melrose,MA 02176
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 73296094
HOA Y/N false
Year Built 1900
Annual Tax Amount $10,033
Tax Year 2025
Lot Size 9,583 Sqft
Acres 0.22
Property Description
Building portfolio of properties for Sale. Rare opportunity Restoration & redevelopment of a Portfolio of Properties in an extraordinary location! Located on a common boundary line with Melrose Downtown Historic District, existing group of 4 adjoining parcels features 4 Victorian homes with 14 units, a private street, 2 multi-stall garage structures. Distinctive Property Design Features: Gable exterior roof designs at varying heights, high interior ceilings, front porches, oak and maple hardwood floors, and ornate detailing. Zoning allows for 21 units, with opportunity for additional units on approx. 0.75 acres. Mix of 1- and 2-bedroom apartments. The property is approximately 70% occupied. Lots zoned UR-D (Urban Residential ‘D’) allowing multifamily buildings to a density of FAR=1.0. Allowable height is 50 feet and 4 stories. Redevelop preserving the existing structures with square foot additions and interior renovations or build new structure(s)
Location
State MA
County Middlesex
Area Melrose Highlands
Zoning UR-D
Direction Follow I-93 N to MA-28 N/Fellsway W in Medford. Take exit 24 from I-93 N
Exterior
Waterfront false
Total Parking Spaces 5
Others
Senior Community false