111 Summit Terrace Road
South Portland, ME 04106 ·
96 Units · Multifamily For Sale
|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|
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.
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