38 Diamond Drive
Waterboro
$8,500,000
Active Under Contract Commercial MLS# 1605396
  • Type: Multi Family
  • Year Built: 1984
  • 768 SqFt
  • 0.24 Acres
  • Waterbody: Lake Arrowhead
  • Waterbody Type: Lake
Listed By:
Real Broker
207-671-6026

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

  • Year Built 1984
  • Lot Size 0.24 acres
  • County York
  • City Waterboro
  • Zone Lake Arrowhead
  • Location Water Frontage, Water View
  • Water Frontage Yes
  • Water Body Type Lake
  • Water Body Name Lake Arrowhead
  • Full Tax Amount $3,861.00
  • Tax Year 2023
  • Association Fee $26,000.00
  • Fee Frequency Paid Annually
  • Basement Full, Unfinished, Walkout Access
  • Equipment Air Radon Mitigation System
  • Construction Wood Frame
  • Exterior Wood Siding
  • Foundation Materials Poured Concrete
  • Basement Full, Unfinished, Walkout Access
  • Roof Metal, Shingle
  • Floors Carpet, Other, Vinyl
  • Heat System Baseboard, Hot Water, Multi-Zones, Other
  • Heat Fuel Oil,Propane
  • Gas Bottled
  • Electric Circuit Breakers
  • Water Private, Public, Well
  • Waste Water Disposal Septic Existing on Site
  • Parking 1 - 4 Spaces, Gravel, Off Street, On Site