$2,100,000

Est. Mortgage $0/mo *

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34 Arundel Road, Arundel, ME, 04046

34 Arundel Road, Arundel, ME, 04046
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5 Full / 3 Half baths

1996

Other Style

15,164 sqft

Diversified Income Property With Income Expansion Availability ! Two large buildings 'fully sprinklered' on 2.54 acres with parking for 42 cars. The front building consists of four levels of commercial or residential space or both offering 6,900 SF above grade & 2,640 SF of a partially finished basement with a full walk out stairway on each end of the building. The front tenant pays the heat & electricity. The rear building consists of 5,936 SF, two levels of living space offering Four-3 bedroom ''loft style'' apartments & a one car garage. The electricity & heat are included in the rear buildings monthly rent. The front building is currently being leased as a daycare mainly occupying the 1st level & the outside playground. The 2nd floor, 3rd floor & basement levels have room for future ''major income expansion'' after the lease terminates. All the current leases are below market rate. The front building has a floor plan for 6 apartments. Zoning will allow for 10 apartments total. This property would also make a great 10 unit condo conversion offering very large loft style units, or an office building, restaurant or a combination of uses. 3 minute drive to Kennebunkport's Dock Square & Beaches. Many different options for the creative investor. Great existing tenants. Very nice property & well maintained. Terrific location. Well worth previewing! Seller will contribute towards buyers closing costs.

Status:

Active

Type:

Multi-family

Laundry Remarks:

Laundry - Coin

Units:

5

Zoning:

TCD

Garage:

1-car

Heating:

Radiant, Forced Air

Cooling:

None

Basement:

Walk-Out Access, Full, Sump Pump, Doghouse, Interior Entry

Parking:

21+ Spaces, Paved, On Site, Inside Entrance

Acreage:

2.54

Est. Taxes:

$13,025

Construction

Wood Siding, Clapboard, Wood Frame

Utilities

Utilities On

Lot Description:

Level, Open Lot, Landscaped, Wooded, Near Golf Course, Near Public Beach, Near Shopping

Amenities:

Bathtub, Shower, Storage

MLS #:

1599977

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Realty Sales Inc