Multifamily Development Land
For Sale
$8,500,000
501 Mystic Valley Parkway, Somerville, MA 02144
Proposed 0.92-acre site for 64 residential units following demolition and zoning code changes.
Property SizeContact for details
Lot Size0.92 Acres
Days on Market18
Property Features for 501 Mystic Valley Parkway
General Information
Standard status
Active
Lot size
0.92 Acres
Property subtype
Land
Zoning
99
Additional Details
Multifamily Units
64
Taxes and HOA fees
Annual Taxes
$99
Listing Agency:
Cushman & Wakefield
(617) 330-6966
Listed By:
Christopher Sower · License #9052376
Source:
413realestate
Added: Jul 23
Changed: Aug 8
Last Checked: Jul 23 at 2:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield
Investment Insights
Based on property information with market context.
This offering presents a proposed 0.92-acre residential development site at 501 Mystic Valley Parkway in Somerville, Massachusetts. The existing building on the property has been recently demolished, and due to recent changes to Somerville’s zoning code, the site now allows for multi-family development.
The property is located in Somerville’s West Somerville neighborhood along Mystic Valley Parkway, with access to local amenities, retail/shopping options, public transportation, major universities, and convenient routes in and out of the city.
As proposed, the development contemplates sixty-four (64) residential units on the site, creating a practical framework for multi-family redevelopment.
The property is located in Somerville’s West Somerville neighborhood along Mystic Valley Parkway, with access to local amenities, retail/shopping options, public transportation, major universities, and convenient routes in and out of the city.
As proposed, the development contemplates sixty-four (64) residential units on the site, creating a practical framework for multi-family redevelopment.
Key Highlights
- Proposed 0.92‑acre site in Somerville, MA for multi‑family development
- Planned for 64 residential units
- Existing building has been recently demolished
Property Analytics
Current Use
Lease Details
64
Residential units
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Proposed 0.92-acre site for 64 residential units following demolition and zoning code changes.
Where is this residential land & home lot located?
The property is located at 501 Mystic Valley Parkway Somerville, MA.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Proposed 0.92‑acre site in Somerville, MA for multi‑family development; Planned for 64 residential units; Existing building has been recently demolished
