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MLS: 1605398 - $8,500,000
38 DIAMOND DRIVE
WATERBORO, ME 04061

Single Family | 6 Rooms | 3 Bedrooms | 1 Full Bath
±768 Sq Ft

1 of 43

Property 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

Property Features

Water Frontage: Yes
Amount of Water Front: 105'
Water Body Name: Lake Arrowhead
Water Body Type: Lake
View: Scenic, Trees/Woods
Seasonal: No
Zoning: Lake Arrowhead
Water: Public
Waste Water Disposal: Septic Existing on Site
Full Tax Amount: $3,861
Amenities: 1st Floor Bedroom, Bathtub, Other, Storage
Year Built: 1984
Style: Cape
Heat System: Baseboard, Hot Water, Multi-Zone
Heat Fuel: Oil
Water Heater: Off Heating System, Oil
Vehicle Storage: No Vehicle Storage
Basement: Walk-Out Access, Full, Interior Entry, Unfinished
Foundation Materials: Poured Concrete

Property Map


LISTING AGENCY:
REAL BROKER
207-671-6026
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.

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