8 Old Orchard Road Old Orchard Beach, ME 04064
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyYork
- Taxes$5,773
- HOA/Condo/Coop Fees$0
- Days on Site36 Days
- MLS StatusPending
- MLS ID Number1596904
- Home Size Source N/A
- Year Built1965
- Lot Size0.41 Acres
- Full Baths4
- Partial Baths2
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General Features
- Style Cape
- Construction Vinyl Siding
- Parking 5 - 10 SpacesPavedOn SiteInside EntranceOff Street
- Sewer Public Sewer
- Electric Circuit Breakers
- Basement FullInterior EntryUnfinished
- Number of Stories 22
- Acreage 0.41
- Water Public
- Garage Spaces 3
- Foundation Concrete Perimeter
- Zoning GB-1
Interior Features
- Cooling Heat Pump
- Heating Heat Pump
- Flooring TileLaminateCarpet
- Interior Furniture IncludedOther
- Laundry Features Washer Hookup
Exterior Features
- Roof Shingle
- Waterfront Property No
- Lot LevelOpen LotLandscapedNear Golf CourseNear Public BeachNear ShoppingNear Turnpike/ InterstateNear Town
- Patio And Porch Porch