921 Ocean Ave is aland property for lease in Portland, ME.
At 3.1 acres, it is an ideal site a for a planned residential unit development (PRUD) which is a permitted use in the R-3 zone for gross land area of 3.0 acres or more. Site has road frontage on Ocean Avenue and Presumpscot Street.
20 dwelling units are allowed before applicable deductions and up to 25% density bonus addition for workforce housing. Survey, constraints analysis, storm water management report and preliminary subdivision plan have been prepared for 2.35 acres of the assemblage.
Incorporating the single family home of 1,344 +/- SF with an assessed value of $171,100 in to the PRUD appears to be the optimal path to highest and best use.
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