38 Diamond Drive Waterboro, ME

$8,500,000
Beds 3
Baths 1
Square Footage 768
Acres 0.24
Photo of 38 Diamond Drive Waterboro ME 04061




Description

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


Listed by Real Broker, Colleen Lundgren 207-272-3984

Details

MLS 1605398
Status Active
Price $8,500,000
DOM 14 days
Type Single Family
Style Cape
Beds 3
Total Baths 1 full baths
Square Feet 768 sqft
Lot Size 0.24 acres
Year Built 1984
Taxes Paid $3,861
Assoc Fee $1,100

Lot & Building Features

Assoc Fee $1,100
Cooling None
Tax Year 2023
Taxes Paid $3,861

Room Details

Bedroom 1 First floor
Bedroom 2 Second floor
Bedroom 3 Second floor
Kitchen First floor
Living Room First floor
Office First floor
Basement Description Full, Walk-Out Access, Unfinished, Interior Entry

Map

Single Family for Sale: 38 Diamond Drive, Waterboro, ME 04061

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Financing

$
20%
0.045423529411765%
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI

Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.