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Attention developers and investors! Here's a fantastic opportunity to own a multi-unit investment property in the heart of Saco, Maine. This property is currently being used as a 2-family unit, but conditional approvals are in place for the construction of five additional condo units each 2BR/1.5BA units. 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.The plans for the additional units have been recorded, and a draft of HOA documents is available for review, although they would need to be completed in order for the city to recognize this as a Condo association. You will also have access to building plans from the city file, allowing you to move forward with the construction process quickly.This property's location is unbeatable, with its close proximity to downtown Saco, shopping centers, restaurants, and schools. It's also conveniently located just a 20-minute drive from the bustling city of Portland and only 90 miles from Boston.This investment opportunity 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 with most of the approvals in place.
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Listing Office: Greater Portland