This Multifamily Property is Off-Market.

111 Summit Terrace Road
South Portland, ME 04106 ·

96 Units · Multifamily For Sale

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Summit Terrace

Price N/A Property Sub-type Garden/Low-Rise
No. Units 96 Property Use Type Investment
Building Size 96,000 SF Cap Rate 7%
Property Type Multifamily Lot Size 6.98 AC
Listing ID: 17266652 Date Created: 07/28/2011 Last Updated: 05/16/2013

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.

Research

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

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