$839,000

Pending

Est. Mortgage $0/mo *

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8 Old Orchard Road, Old Orchard Beach, ME, 04064

8 Old Orchard Road, Old Orchard Beach, ME, 04064
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4 Full / 2 Half baths

1965

Cape

2,215 sqft

You don't see property like this every day. It is a pleasure to offer this 4- unit where the owner has updated 4 kitchens, 3.5 baths, installed 5 heat pumps for heat and AC, all powered by the brand-new solar panels on the brand-new roof!! Electricity expected to run $21.55/ unit / month. Gross revenue is $81,600 +/- (estimated for owner's unit) and expenses including property taxes and vacancy are $12,913+/-. Today this building has an 8.2 cap rate and that is before you consider renting the 3- bay garage or expanding the Air BnB possibilities. New electrical panels, Buderus boiler and a basement you can actually use make this a great property to own long-term. Located 5 minutes from the beach, the Pier, Ocean Park, Bidd-Saco Country Club, and Funtown, there are all kinds of opportunities to either live and have fun or make this a great investment, or both. Showing Thursday 4-6 and Saturday 1-3pm.

Status:

Pending

Type:

Multi-family

Laundry Remarks:

Washer Hookup

Units:

4

Zoning:

GB-1

Frontage:

222

Garage:

3-car

Heating:

Heat Pump

Cooling:

Heat Pump

Basement:

Full, Interior Entry, Unfinished

Levels:

2

Parking:

5 - 10 Spaces, Paved, On Site, Inside Entrance, Off Street

Acreage:

0.41

Est. Taxes:

$5,774

Construction

Vinyl Siding, Wood Frame

Utilities

Utilities On

Lot Description:

Level, Open Lot, Landscaped, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Near Town

Amenities:

Furniture Included, Other

MLS #:

1596904

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of EXP Realty LLC