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Multi-Family for Sale: 8 Old Orchard Road, Old Orchard Beach, ME 04064 SOLD

4 full, 2 half baths
$850,000
$850,000
8 Old Orchard Road, Old Orchard Beach, ME 04064 SOLD
4 full, 2 half baths
$850,000
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Floor Plans
Selling Price: $850,000
Original List Price: $839,000
Sold at 101.3% of list price
Sold Date: 10/23/2024
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
City Old Orchard Beach
County York
School District RSU 23
MLS 1596904
Status Closed
DOM 100 days
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.

Room Features

Basement Description Full, Unfinished, Interior Entry

Virtual Tours for 8 Old Orchard Road Old Orchard Beach, ME

Lot & Building Features

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

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

Price History of 8 Old Orchard Road, Old Orchard Beach, ME

Date Name Price Difference
07/15/2024 Listing Price $850,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Map of 8 Old Orchard Road, Old Orchard Beach, ME

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Listed by EXP Realty, Roslind Anton 888-439-8743
Sold by The Maine Real Estate Group, Kristin Rofe 207-329-4534
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20%
0.67928823529412%
6.75%
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Listing information courtesy of: EXP Realty

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. ©2024 Maine Real Estate Information System, Inc. All Rights Reserved. This web site does not display complete Maine Listings. Certain Maine Listings of other real estate brokerage firms have been excluded.