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Real Estate Foreclosure Auction 17-260
40-Unit Development Property
Former Independent Living Facility
110 College Ave.
Thursday, December 14, 2017 at 11AM
Real Estate: Consists of a 1.961+/- acre parcel with 220+/- ft. on College Ave. and 63+/- ft. on Myrtle St. The site is located in Medium Density Residential and Commercial C zones and is in close proximity to the newly revitalized downtown district. Improving the site is a wood-frame, single story building containing 21,917+/-SF above grade. The building is designed with 40-units with each having a private bathroom and all located on the main level. The breakdown is (34) single room units and (6) two room suites (1BR) with one having a kitchenette. The building was constructed in 1959 as a motel with a restaurant and lounge in the basement, and was later converted to an assisted living facility with the last use being a private pay, independent living facility. The main level has a central lobby, library/den, common area with living room, dining room and small resident kitchen, commercial kitchen, beauty parlor, office, public restroom and a housekeeping unit. The basement contains 6,336+/-SF and has function rooms, kitchen, laundry room, boiler room, restrooms, offices and storage areas. Other features include a covered patio, sprinkler system and fire alarm system. Reference Waterville Tax Map 58, Portion of Lot 61.
Preview: Wednesday, November 29th from 1:30-2:30PM
Directions: Heading north on I-95, take exit 130, right onto Main St., left at light onto Armory Rd., straight onto Hazelwood Ave., right onto College Ave. to property on the right.
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Terms: A $10,000 deposit (nonrefundable as to highest bidder) in CASH or CERTIFIED U.S. FUNDS, made payable to the Keenan Auction Co., Inc. (deposited with the Auctioneer as a qualification to bid), increased to 10% of the purchase price within 5 calendar days of the sale, with balance due and payable within 30 days from date of auction. The property will be sold by public auction subject to all outstanding municipal assessments. Conveyance of the property will be by release deed. All other terms will be announced at the public sale. For a Property Information Package visit KeenanAuction.com or call (207) 885-5100 and request by auction number 17-260. Richard J. Keenan #236. Our 45th Year and 7,724th Auction.
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