50 Moraine St - 50 Moraine Street, Belmont, MA - MBTA Zoning 1.89 Acres of Residential Land Offered at $11,060,000 CAD in Belmont, MA 02478

Seller will sell the land "subject to" the Buyer obtaining permits. The highest and best use is probably 5 buildings, each 4 stories, yielding 20K s.f. each and 16 two bedroom units per building. The low income requirement is 15% of the units. Total project size : 80 units with 12 units to be designated "affordable". The lot has a slight grade change in the rear which should allow for a garage below grade. There is enough land to have all surface parking too. The location is spectacular : at the end of a dead end street. It abuts the Waverly Oaks conservation land and is a three minute walk to the MBTA train that goes into Boston and the direct bus line to Harvard Square. Star Market, Dunkin Donuts, and the Tatte Bakery in Waverly Square are also just a short three minute walk away.