Catylist ID:
#30214608
| Catylist Listing ID: | 30214608 |
| Property Subtypes: | Multi-Family |
| Gross Land Area: | 15 - 30 Acres |
| Sale Price: | $3,000,000 - 4,500,000 |
| Land Splits Available: | Yes |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/2/2024 |
Overview / Comments
|
- 330 unit development o?ers rare opportunity in high barrier to entry market. - 7 minute drive from downtown Portland (< 6 Miles). - Limited competition; No new construction in Scarborough over 60 units since 1981. - 500,000+ population within 25 mile radius. - E?cient management all in one site. - Less than 3.5 miles from Maine Mall. - 1.5 miles to Maine Turn-Pike (I-95). - Scarborough is Maine’s fastest growing residential municipality. - Destination for outdoor enthusiasts; 6 white sand beaches and 3,000 acres of coastal-Maine habitat for wildlife. |
Attachments & Media
Additional Details
| Nearest MSA: | Portland-South Portland |
| County: | Cumberland |
| Tax ID/APN: | FD452F25-4B1F-4C31-88F7-70BCD399D9F3 |
| Zoning: | HPZ |
| Property Visibility: | Excellent |
| Site Description: | 30 acres approved for 330 multi-family apartments |
| Lot Frontage: | Varies |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 21,649 | 66,303 |
| Median Age: | 44.27 | 40.23 |
| Households: | 8,621 | 29,154 |
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