Historical Multifamily Sale Listing - Summit Terrace

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Summit Terrace

111 Summit Terrace Road, South Portland, ME 04106

N/A

96 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
96
Building Size:
96,000 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
7%
Lot Size:
6.98 AC
Listing ID
17266652
Last Updated
335 days ago

Description

Summit Terrace is a packaged offering consisting of 96 garden style, two-bedroom apartments on 6.98 acres of land. An abutting 7.76 acre land parcel can be made available for an additional $2,000,000. The units are situated in eight separate buildings with 12 units per building. All exterior construction is brick, masonry and stucco. The interiors are constructed of drywall over concrete block and double insulated for maximum efficiency. The property has an office building with storage and separate parking to accommodate the administrative and management needs of the facility. The buildings are in excellent condition.

The complex is located in the coastal community of South Portland, Maine, just across the Casco Bay Bridge from downtown Portland and only a few minutes from area parks, beaches, boating, shopping and restaurants.

Map of 111 Summit Terrace Road, South Portland, ME 04106 (Cumberland County)

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Created 7/28/2011