Direct Oceanfront Unique 2 Family Condo Investment Property

Multi-Family for Sale
Catylist Listing ID: 30085307
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 1,504 SF
Gross Building Area: See Agent
Gross Land Area: 0.45 Acres
Sale Price: $895,000
Unit Price: $447,500 Per Unit
Property Use Type: Investment
Building Name: Building 4
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/17/2018

Overview / Comments

Unique 2 family condo in Oceanfront Condominium Association with Deluxe Oceanfront Motel. Property offers two 2 bedroom, 1 bath condo units with living room with gas fireplace, sunroom with additional sleeping area, and steps to private sandy beach and path to 7 miles of public beach. Direct oceanfront and rents for $2,400 per week per unit in summer and $1,200 per month per unit in winter (upside potential as below market). Fully furnished, applianced and equipped. Originally single family so conversion possible. Ideal money maker with million dollar views and turnkey ready for immediate summer income. AC units and efficient direct vent gas heaters. Use of common swimming pool and possible maid and laundry service for fee TBD.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $5,456 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: 00BH-000301-000005-000009-000004
Zoning: BRD
Community Amenities: Outdoor Pool, Play Ground
Property Located Between: Beatrice Way and Wavelet Street
Highway Access: Close to Scarborough and Saco highway exits
Airports: Close to Portland Jetport
Site Description: Beautiful direct oceanfront building included in Oceanfront Condominiums along with Deluxe Oceanfront Motel
Area Description: Steps out back door to 7 miles of beautiful public beach and small private beach area in rear of property with path to public beach
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1921
Roof Type: Arched
Construction/Siding: Vinyl Siding
Exterior Description: Vinyl siding
Parking Type: Surface
Parking Description: Parking for 2 cars provided for both units
Heat Type: Propane, Space Heaters
Heat Source: Other
Fuel: Gas
Air Conditioning: Window Unit
Interior Description: Each condo has gas fireplace, open concept living room overlooking ocean, two large bedrooms, full bathroom, sunroom and both fully furnished and equipped
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,379 14,726 46,272
Median Age: 46.52 47.34 43.5
Households: 1,165 6,804 20,099
© Copyright Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.