Approved Condominium project in Old Orchard

Multi-Family for Sale
Catylist Listing ID: 30806887
Property Subtypes: Duplex/Fourplex
Building Status: Proposed
Number of Units: 24 Units
Building Size (RSF): 3,700 SF
Gross Land Area: 2 Acres
Sale Price: $2,500,000
Unit Price: $104,166.67 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,700 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/26/2022

Overview / Comments

Town approved 24 unit luxury condominium site with ROW to the beach. Spectacular sunset views. All engineering, site plan, 8x 3 unit buildings with drive under garage design, storm water management, etc has been approved. Will need sewer and water connections from East Grand Ave.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $8,946 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: OOBH-000201-000003-000006
Zoning: RBD
Community Amenities: On-Site Maintenance
Property Located Between: Route 1 & East Grand
Highway Access: Route 1
Site Description: Approved 24 unit condo project that is shovel ready
Total Number of Buildings: 8
Number of Stories: 3
Year Built: 2022
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: New construction
Parking Type: Other
Parking Description: Garage under
Total Parking Spaces: 57
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Heat Pump
Fuel: Electric
Air Conditioning: Other
Internet Access: Cable
Interior Description: New Construction
Water Service: Municipal
Sewer Type: Municipal
Easements: Water Rights, Utilities
Easements Description: Access to the beach and utility easements for the project

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,563 15,798 42,198
Median Age: 46.55 47.78 43.86
Households: 762 7,293 18,470

Contact

Photograph of Listing Agent

John Caramihalis

Masiello Group NECPE Member
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