8 Old Orchard Road Old Orchard Beach, ME SOLD

$850,000
Baths 6
Square Footage 2,215
Acres 0.41
Photo of 8 Old Orchard Road Old Orchard Beach ME 04064

Sold By

Kristin Rofe, The Maine Real Estate Group



Description

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.


Listed by EXP Realty, Roslind Anton 888-439-8743
Sold by The Maine Real Estate Group, Kristin Rofe 207-329-4534

Details

MLS 1596904
Status Closed
Price $850,000
DOM 100 days
Type Multi-Family
Style Cape
Total Baths 4 full, 2 half baths
Square Feet 2,215 sqft
Lot Size 0.41 acres
Year Built 1965
Taxes Paid $5,773

Lot & Building Features

Cooling Heat Pump
Tax Year 2024
Taxes Paid $5,773

Room Details

Basement Description Full, Unfinished, Interior Entry

Unit Features

Unit 1 Full Baths 1
Unit 1 of Bedrooms 1
Unit 1 of Rooms 3
Unit 2 Full Baths 1
Unit 2 Half Baths 1
Unit 2 of Bedrooms 1
Unit 2 of Rooms 3
Unit 3 Full Baths 1
Unit 3 of Bedrooms 1
Unit 3 of Rooms 3
Unit 4 Full Baths 1
Unit 4 Half Baths 1
Unit 4 of Bedrooms 1
Unit 4 of Rooms 3

Map

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Financing

$
20%
0.67928823529412%
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.


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