57 Oxford St, Augusta, ME 04330

Property Description

The property includes a two-unit farmhouse as a residential rental. The main feature is an existing Bank Barn with a 3,000 sq. ft. footprint per level above the full basement/garage with concrete floor. This three-story framed space offers significant cubic footage and loft levels, providing the potential to build out an average of six or more additional 1,500 sq. ft. residential units. All utilities can be housed in the expansive garage/basement space to service the new units. Due to shifting market conditions, local contractor availability post-COVID-19, and personal physical limitations, the current owner has decided to pass this concept on to a new developer or builder rather than completing the project themselves. This property represents a major opportunity for various development concepts: such as senior housing, a tiny home community, assisted living, low-income housing, or a boarding home, as well as 100+ market rate units OR over 400 low income units, per the Augusta zoning allowances, as the property is in a high density residential development district. Potential buyers are encouraged to explore the various state and local assistance programs for which this project may qualify. Buy both lots @ the listed/asking price, or buy just one of either separately deeded lot for $1,557,000.00 Also listed in land category (MLS # 1666418), and in Multi-Family (MLS# 1672763)