8 Railroad Avenue Kennebunk, ME
$1,450,000
Baths 2
Square Footage 1,554
Acres 0.11
Description
Are you in search of a rare investment opportunity in Kennebunk? Look no further than 8 Railroad, an exquisite cottage compound featuring TWO three-bedroom units just steps from the white sands of Kennebunk's Mother's Beach and a short trip to the charming downtown. Currently generating substantial annual cash flow as short-term rentals, these cottages offer the flexibility to be rented out or occupied separately. Both cottages are meticulously curated with fine furniture, lighting, cabinetry, counters, appliances, and artwork. The attention to detail is reminiscent of yacht design, with everything thoughtfully placed, creating a subtle, high-end nautical ambiance. The front cottage, 'Fairview,' opens into a lovely living space that connects to an eat-in kitchen with open shelving. A discreet hallway houses a full-size washer and dryer, leading to a barn door that opens to the bathroom. The side bedroom features a queen-size bed, the second bedroom is equipped with bunk beds, and the primary bedroom offers a king-size bed, all with premium mattresses and a soothing blue and white color scheme.
Around the side, you'll find the entrance to 'Seabreeze,' which boasts a private yard and deck space. The entryway leads directly into a kitchen with an eat-in dining table. To the left, a gorgeous living room continues the nautical theme. The hallway reveals a room with a twin trundle bed, ideal for young guests, and a stackable washer and dryer. The spacious bathroom includes a glass door shower, offering more space than typical cottages. The second bedroom has a queen-size bed, while the primary bedroom features a king-size bed and space for a reading chair. The backyard is perfect for outdoor enjoyment, with a picnic table and an array of Adirondack chairs scattered across the property for soaking in the glorious summer days. This property is highly popular as a rental, boasting numerous returning guests and glowing online reviews. Financials available upon request.
Listed by Keller Williams Realty, Holly Mitchell 207-879-9800
Details
MLS 1598842
Status Active
Price $1,450,000
DOM 136 days
Type Multi-Family
Style Cottage, Ranch
Total Baths 2 full baths
Square Feet 1,554 sqft
Lot Size 0.11 acres
Year Built 1955
Taxes Paid $9,031
Lot & Building Features
Cooling Heat Pump
Tax Year 2023
Taxes Paid $9,031
Room Details
Basement Description Crawl Space, Unfinished, Sump Pump, Exterior Only
Unit Features
Unit 1 Full Baths 1
Unit 1 of Bedrooms 3
Unit 1 of Rooms 6
Unit 2 Full Baths 1
Unit 2 of Bedrooms 3
Unit 2 of Rooms 6
Map
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Financing
$
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.