Glenridge Gardens - Multi-Unit Investment, Augusta
Multi-Family
for Sale
| Catylist Listing ID: |
30660085 |
| Property Subtypes: |
Low-Rise/Garden, Other
|
| Number of Units: |
120 Units |
| Building Size (RSF): |
999,999 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
14.67 Acres
|
| Sale Price: |
$9,000,000 |
| Unit Price: |
$75,000 Per Unit |
| Property Use Type: |
Investment |
| Building Name: |
Glenridge Gardens |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
1/13/2021 |
Overview / Comments
Glenridge Gardens is a 120-unit affordable housing project located in Augusta, Maine, the state capitol. Originally capitalized under the Low Income Housing Tax Credit (LIHTC) program, the project compliance period has expired, although rental income restrictions remain in place. The property has been well maintained and has strong historical operations. Consisting of nine (9) two-story buildings, the property includes the 120 townhouse style direct-entry rental units, an on-site management office, laundry and maintenance facilities.
FOR MORE INFORMATION, PLEASE COMPLETE THE ATTACHED CONFIDENTIALITY AGREEMENT.
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Additional Details
| Nearest MSA: |
Augusta-Waterville |
| County: |
Kennebec |
| Tax ID/APN: |
Map 60, Lots 9 & 11 |
| Zoning: |
RA |
| Play Ground |
| Property Located Between: |
Minutes to retail, medical facilities, and to I-95 |
| Highway Access: |
I-95 |
| Airports: |
Augusta State Airport |
| Total Number of Buildings: |
9 |
| Property Condition: |
Good |
| Number of Stories: |
2 |
| Year Built: |
1975 |
| Year Renovated: |
2004 |
| Roof Type: |
Gable |
| Construction/Siding: |
Brick, Vinyl Siding, Wood Frame |
| Parking Type: |
Surface |
| Parking Description: |
On-site, paved parking |
| Laundry: |
Shared |
| Heat Type: |
Natural Gas, Hot Water |
| Fuel: |
Gas |
| Zoning Description: |
Low Density Residential District |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,922 |
18,071 |
29,096 |
| Median Age: |
42.03 |
43.73 |
43.7 |
| Households: |
2,044 |
8,416 |
13,167 |
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