Active
38 Diamond Drive
Waterboro ME, 04061
$8,500,000
Active
3 Beds
1 Bath
768 sqft
Residential
Built in 1984
Courtesy of Real Broker
Exciting investment opportunity for 25 single-family properties located within and proximal to the waterfront neighborhood of Lake Arrowhead. An expansive community that is only 35-minutes from the bustling city of Portland, 1 hour from abundant recreational opportunities of the mountain regions, and 2 hours from Boston. This portfolio's location is ideal for all that Maine has to offer.
This 25-unit single-family investment portfolio comprises of desirable 2-story Cape Cod style homes. All providing the option for first floor-living with a bedroom and bath privately tucked into the back of the homes. Two additional bedrooms are located upstairs and 15 of the properties have a larger floor plan providing additional flex space for a den or office on the first floor. Some properties offer added value with direct lakefront living, walkout basements, and exceptional privacy with larger lots up to 2 acres. Quality construction is evident in these owner-built properties which have well-maintained systems, metal roofs on 24 of the properties, solid 2x6 construction, dry basements, and radon mitigation systems. All of the properties have been used for long-term rentals and are non-smoking.
The Lake Arrowhead Association boasts multiple beaches for water activities such as swimming and kayaking. With two Community Centers, including indoor and outdoor pools, basketball and volleyball courts, room rentals, fitness center and other amenities this location draws long-term renters, vacationers, and home buyers.
This is an exceptional investment portfolio poised for value appreciation and revenue growth. Lake Arrowhead does allow short-term vacation rentals; a potential, high-growth revenue stream not realized by the current owner.
Notes: This is a portfolio sale of 25 single-family homes. 22 properties are with-in the Lake Arrowhead Association and 3 properties are in the surrounding community. List of all properties is attached.
Also, MLS Commercial #1605396
1605398
MLSⓇ ID
September 30, 2024
Listed
October 2, 2024
Updated
Map
38 Diamond Drive
Waterboro ME, 04061
Interior Features
Bedrooms
3
Total Bathrooms
1
Full Bathrooms
1
Interior Features
1 st Floor Bedroom, Bathtub, Other, Storage
Appliances
Refrigerator, Gas Range
Laundry Description
Washer Hookup
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Multi-Zones, Hot Water, Baseboard
Exterior/Building Features
Lot Size
0.24 Acres
Lot Features
Rolling Slope, Wooded, Neighborhood
Architectual Style
Cape
Roof
Metal
Sewer
Septic Existing on Site
Other Property Details
Taxes
$3,861
Tax Frequency
Annually
Association Fee
$1,100
Association Fee Frequency
Yearly
Garage
No
Parking
1 - 4 Spaces, Gravel, On Site
View
Yes
View Description
Scenic, Trees/Woods
County
York
Water Source
Public
Pool
No
Waterfront
Yes
Zoning
Lake Arrowhead
Listing Contact: 207-671-6026
Courtesy of Real Broker
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2024 Maine Real Estate Information System, Inc. All Rights Reserved. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Tomazin Goff Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 1:50 PM UTC, 10/2/2024