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377 Washington Street is a value add opportunity on 7,000 SF lot just outside of the developing Union Square neighborhood. As of right, 377 Washington Street would allow an additional cottage of 1,404 GSF as an additional unit on the property.With approval from Somerville's historical commission, buyer would also be allowed to knock down the existing structure to build a detached triple decker. The city of Somerville allows for a maximum of 3 dwelling units in the NR zone, however this property is in a small business overlay which would allow for the first floor of the detached triple decker to be a commercial unit instead of a dwelling unit. If the first floor unit is commercial, than the additional cottage mentioned above would be allowed because there would be 3 dwelling units and 1 commercial. ***The City of Somerville requires a dwelling unit to be moderate level affordable if any development exceeds 2 units*****

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Listed by Ryan McDonald of Boston Realty Advisors

Property Details of 377 Washington Street, Union Square

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