Active under contract

38 Diamond Drive

Waterboro ME, 04061

$8,500,000


Active under contract

768 sqft

Commercial

Built in 1984

Courtesy of Real Broker

Exciting investment opportunity for 24 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 24-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 14 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, 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 24 single-family homes. 22 properties are with-in the Lake Arrowhead Association and 2 properties are in the surrounding community. List of all properties is attached.

Also, MLS Residential #1605398

1605396

MLS ID

September 30, 2024

Listed

October 28, 2024

Updated

Map

38 Diamond Drive
Waterboro ME, 04061

Interior Features

Floor Description

Vinyl, Other, Carpet


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Other, Multi-Zones, Hot Water, Baseboard

Exterior/Building Features

Lot Size

0.24 Acres


Lot Features

Water View, Water Frontage


Roof

Metal, Shingle


Sewer

Septic Existing on Site

Other Property Details

Taxes

$3,861


Tax Frequency

Annually


Association Fee

$26,000


Association Fee Frequency

Yearly


Garage

No


Parking

1 - 4 Spaces, Gravel, On Site, Off Street


View

No


County

York


Water Source

Private, Public, Well


Pool

No


Waterfront

Yes


Zoning

Lake Arrowhead

Listing History

Date

Event

Price

10/28/2024

Under contract

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 7:43 PM UTC, 10/28/2024

 

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