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38 Diamond Drive

Waterboro, ME 04061

3 beds
1 bath
768 sqft
10,454 sqft lot
$10,416 per sqft
1984 build
– on site

Exciting investment opportunity for 23 single-family properties located within and proximal to the waterfront neighborhood of Lake Arrowhead. An expansive community that is only 35-minutes from the bustling city of Portland, 1 hour from abundant recreational opportunities of the mountain regions, and 2 hours from Boston. This portfolio's location is ideal for all that Maine has to offer. Portfolio comprises of desirable 2-story Cape Cod style homes. All providing the option for first floor-living with a bedroom and bath privately tucked into the back of the homes. Two additional bedrooms are located upstairs and 14 of the properties have a larger floor plan providing additional flex space for a den or office on the first floor. Some properties offer added value with direct lakefront living, walkout basements, and exceptional privacy with larger lots up to 2 acres. Quality construction is evident in these owner-built properties which have well-maintained systems, metal roofs, solid 2x6 construction, dry basements, and radon mitigation systems. All of the properties have been used for long-term rentals and are non-smoking. The Lake Arrowhead Association boasts multiple beaches for water activities such as swimming and kayaking. With two Community Centers, including indoor and outdoor pools, basketball and volleyball courts, room rentals, fitness center and other amenities this location draws long-term renters, vacationers, and home buyers. This is an exceptional investment portfolio poised for value appreciation and revenue growth. Lake Arrowhead does allow short-term vacation rentals; a potential, high-growth revenue stream not realized by the current owner. Notes: This is a portfolio sale of 23 single-family homes. 21 properties are within the Lake Arrowhead Association. Seller is willing to split up portfolio. A list of all properties is attached. Also, MLS Commercial #1605396

Listing courtesy of MREIS / Real Broker

Last checked: Checking… • Last updated Dec 13, 2024 •

MLS# 1605398 —

The Building

Year Built:

1984
Construction Materials:

Wood Siding, Wood Frame
Roof:

Metal
Basement:

Walk-Out Access, Full, Interior Entry, Unfinished
Direction Faces:

None
Window Features:

None
Building Features:

None
Building Area Total:

768.0
Building Area Source:

Public Records

Interior

Rooms Total:

6
Kitchen:

true
Fireplace:

false
Fireplace Features:

None

Room Dimensions

Living Area:

None

Financial & Terms

Land Lease:

false

Location

Directions:

None

The Property

Lot Features:

Rolling Slope, Wooded, Neighborhood
Lot Size:

10,454 Sqft
Lot Size Area:

0.24
Lot Size Acres:

0.24
Lot Size Units:

Acres
Lot Size Source:

Public Records
Lot Size Dimensions:

None
Zoning:

Lake Arrowhead
Property Attached:

No
View:

Scenic, Trees/Woods
Current Use:

None
Possible Use:

None
Topography:

None
Waterfront:

true
Road Surface Type:

Gravel
Waterfront Features:

Lake
Other Equipment:

None

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Annual Amount:

$3,861

Beds

Bedrooms Total:

3

Baths

Full Baths:

1
Three Quarter Baths:

None
Partial Baths:

None
Quarter Baths:

None

The Listing

Virtual Tour URL Branded:

None

Heating & Cooling

Heating:

Multi-Zones, Hot Water, Baseboard
Heating:

true
Cooling:

false
Cooling:

None

Utilities

Utilities:

Utilities On
Electric:

Circuit Breakers
Sewer:

Septic Existing on Site
Water Source:

Public

Appliances

Appliances:

Refrigerator, Gas Range

Schools

Elementary School:

None
Middle Or Junior School:

None
High School:

None

The Community

Subdivision Name:

Lake Arrowhead Association
Spa Features:

None
Pool Private:

No
Water Body Name:

Lake Arrowhead
Association Amenities:

None
Association Fee Includes:

None
Association:

true
Association Fee:

1100.0
Association Fee Frequency:

Annually

Parking

Garage:

false
Attached Garage:

false
Carport Spaces:

None
Parking Features:

1 - 4 Spaces, Gravel, On Site

Monthly cost estimate

Asking price

$8,000,000

Expense	Monthly cost
Mortgage	$42,837
Taxes	$321
Insurance	$2,200
Utilities	$315 See report
Total	$45,673/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Air Pollution Index

Provided by ClearlyEnergy

Sale history

Date	Event	Source	Price	% Change
11/25/24 Nov 25, 2024	Price Changed	MREIS	$8,000,000	-5.9%
11/18/24 Nov 18, 2024	Listed / Active	MREIS	$8,500,000
10/28/24 Oct 28, 2024	Sold Subject To Contingencies	MREIS	$8,500,000

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This house located in Waterboro, ME 04061 is currently for sale for $8,000,000. 38 Diamond Drive is a 768 square foot house with 3 beds and 1 bath that has been on Estately for 78 days. This house is in the attendance area of Massabesic High School.

Listing Provided Courtesy of Real Broker

Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2024 Maine Real Estate Information System, Inc. All Rights Reserved. This website does not display complete Listings. Certain Listings of other real estate brokerage firms have been excluded.