33 Forest Avenue Orono, ME 04473
Discover a unique investment opportunity in the heart of ORONO—ideal for capitalizing on the high demand for university-adjacent housing. 🗝This prime property features a spacious duplex, and a sweet, detached ranch home, all on the same lot, offering possibilities for either income producing or owner occupied options. The duplex consists of a 3-bedroom, 1.5-bath unit on the first floor and a 4-bedroom, 1-bath unit on the second floor, perfect for accommodating student groups or families. The renovated 2-bedroom, 1-bath cottage comes with its own private backyard, providing additional space to expand your living & entertaining area outdoors. The units are all in move-in ready condition, and feature modern improvements combined with the old house charm of hardwood floors, enclosed porches and built-ins. Each apartment has it's own laundry, which is a must-have amenity for prospective tenants. Natural gas heating ensures energy efficiency and cost savings, making this property even more appealing. The newly paved driveway offers ample parking space, enhancing the value for potential renters. Located in a sought-after area close to the university, this property is a rare find for investors looking to secure consistent rental income in a thriving market. 2023 gross rental income was over $80k and is rarely vacant due to word-of-mouth interest whenever an apartment becomes available.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyPenobscot
- Taxes$8,359
- HOA/Condo/Coop Fees$0
- Days on Site36 Days
- MLS StatusActive
- MLS ID Number1602288
- Home Size Source N/A
- Year Built1930
- Lot Size0.28 Acres
- Full Baths3
- Partial Baths1
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General Features
- Style DuplexCottageColonialMulti- LevelRanch
- Construction Vinyl SidingClapboard
- Parking 5 - 10 SpacesPavedOff Street
- Sewer Public Sewer
- Electric Circuit Breakers
- Basement FullInterior EntryUnfinished
- Acreage 0.28
- Water Public
- Foundation StoneConcrete PerimeterBrick/ Mortar
- Zoning MDR
Interior Features
- Cooling None
- Heating Multi- ZonesHot WaterBaseboard
- Flooring WoodVinylLaminate
- Interior 1st Floor BedroomIn-Law FloorplanOne-Floor LivingStorage
- Fireplaces 0
- Laundry Features Laundry - 1st FloorUpper LevelMain Level
- Fireplace No
Exterior Features
- Roof Shingle
- Waterfront Property No
- Lot LevelOpen LotSidewalksIntownNear Golf CourseNear Shopping
- Patio And Porch Glass EnclosedPorch
- Other Structures Shed(s)