MLS Number 1560539
- Square Feet 2,314
- Acreage 0.75
Attention developers and investors! I have found a fantastic opportunity for you to own a multi-unit investment property in the heart of Saco, Maine. The property is currently being used as a 2-family unit, but there are conditional approvals in place for the construction of five additional condo units, each consisting of 2 bedrooms and 1.5 bathrooms .
The approved plan includes a triplex, a duplex, and the conversion of the existing 2-family unit into a single-family unit upon completion of the project. This means that you have the potential to create a total of seven units in this property. The plans for the additional units have been recorded, and a draft of HOA (Homeowners Association) documents is available for review. However, it's important to note that these documents would need to be completed for the city to officially recognize this as a Condo association.
Moreover, you'll have access to the building plans from the city file, which will enable you to move forward with the construction process quickly. This property boasts an unbeatable location, with close proximity to downtown Saco, shopping centers, restaurants, and schools. Additionally, it's conveniently located just a 20-minute drive from the bustling city of Portland and only 90 miles from Boston, making it an ideal investment opportunity.
With most of the approvals already in place, this property offers endless possibilities for income potential in a highly desirable area. Don't miss out on this fantastic opportunity to own a multi-unit investment property in an ideal location.
Listed by Keller Williams Realty