257-259 Saratoga St, East Boston, MA 02128

Description

East Boston Development Opportunity in desirable Location Two adjoining Saratoga Street parcels are offered together: an existing three-story building at 257 Saratoga Street and a vacant corner parcel at 259 Saratoga Street. An unusual opportunity for investors, builders and developers to explore the possibilities of neighboring properties in an established East Boston location. The vacant parcel at 259 Saratoga Street contains approximately 1,000 sq. ft. (20' x 50') with frontage on both Saratoga and Putnam Streets. The adjoining 257 Saratoga Street parcel contains approximately 940 sq. ft. and is improved with an existing three-story building, to be delivered vacant. Combined land area is approximately 1,940 sq. ft. based on the stated City-record figures. The two parcels may be evaluated separately and together, subject to applicable requirements. Both parcels are identified as separate lots within the EBR-3 (East Boston Residential-3) zoning subdistrict. EBR-3 generally provides for up to three dwelling units per qualifying lot, subject to dimensional, use and other requirements. The zoning designation does not guarantee. Cl. Applicable zoning provisions generally do not require off-street parking for buildings containing one to three dwelling units; buyers should confirm the rules for their specific plans. The City of Boston has reportedly released deed restrictions imposed on the vacant corner parcel in 1994. The properties have also been identified as being within Coastal Flood Resilience, Groundwater Conservation and Restricted Roof overlay districts. Buyers should verify the current status and effect of all zoning, overlays, restrictions and title matters. The existing building and adjoining corner lot create an opportunity to investigate renovation, continued use, or potential redevelopment. Corner frontage on two streets adds another feature for buyers assessing design and access options, subject to City review. All proposed work or changes in use may require permits, zoning relief and other approvals. No specific unit count, development yield or project approval is represented. Offered together for buyers seeking a distinctive East Boston investment opportunity. Close to Bennington Street shops, restaurants, across the street from Reno's Restaurant and transit close by. Buyer to perform its own due diligence and verify zoning approval of three units on either parcel