$8,500,000
About this home
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
- MLS #
- 73552820
- Property type
- Residential
- Subdivision
- N/A
- Status
- Active
- Days on market
- 70
- On market date
- July 21, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.92 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).
- Enrollment
- 522
- Student:teacher ratio
- 12.1:1
- District
- Medford
- Enrollment
- 452
- Student:teacher ratio
- 11.6:1
- District
- Arlington
- Enrollment
- 1,207
- Student:teacher ratio
- 9.7:1
- District
- Medford
Walkability
Blended score for Somerville's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Somerville, from live MLS data.
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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated July 25, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.