Active
50 Days on market
501 Mystic Valley Parkway Somerville — Photo 1 of 8

501 Mystic Valley Parkway Somerville — Photo 1 of 8

$8,500,000

501 Mystic Valley Parkway, Somerville, MA 02144

Somerville, MA 02144

Beds

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Baths

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SqFt

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Style

Residential

Built

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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.

Property Details

Financials

Original Price$8,500,000
Annual Taxes$99

Parking

Garage0
Off-Street0

Interior Specifications

Total Rooms--
FireplacesNone
Flooring--
BasementNone

Climate & Utilities

Heating--
Cooling--
WaterPublic
SewerPublic Sewer

Building & Exterior

Construction--
Roof--
Foundation--
Zoning99

Property & Lot

Acres0.92
SqFt Lot40,075.2
Lot FeaturesLevel, Cleared

Geography

Population

25,448

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$150K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

63.4%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Middlesex County

2,667 housing units permitted in the last 12 months (-2% vs the prior 12 months) — 1,709 in 5+ unit buildings

U.S. Census Bureau, Building Permits Survey (through Jun '26)

Listing Provided By

Listing Agent: Christopher Sower

Listing Office: Cushman & Wakefield

MLS® Number: 73552820

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