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Property view

27 Summer Street, 
Biddeford, ME 04005

$545,000


Bed


3

Baths


2,854

Sq Ft


Multi-Family

Sold

Listed by

Jeremy Lock

Bought with Coldwell Banker Realty

Waypoint Brokers Collective

MLS#

1570519

Source:

ME MREIS

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About This Home

27 Summer Street

Perched on the edge of Biddeford's vibrant downtown, this attractive brick 2-unit is just a few short blocks away from amazing restaurants, breweries, and distilleries, which translates to an abundant pool of tenants as everyone wants to be near the action. But what really sets this building apart, is that in addition to its long-term units, it has an extensively renovated lockout unit with its own ensuite bathroom that creates the perfect setup for a short-term rental. You couldn't ask for a better entry point into the short-term rental space as you have rental income from two long-term units to help offset the vacancies between bookings creating a more consistent income stream. For the investor who plans to self-manage and maximize STR income, this building could easily cash flow. And we're talking cash flow after taking into account repairs AND vacancies. When was the last time you encountered a 2-unit that could boast that?! Newly installed replacement windows are the cherry on top. Such a great building to add to your portfolio!

Home Facts

Multi-Family

3 Baths

Built in 1900

Price Summary

499,000

$174 per Sq. Ft.

MLS #:

1570519

Sold:

October 13, 2023


Rooms & Interior

Bathrooms

Total Bathrooms:

3

Full Bathrooms:

3

Interior

Living Area:

2,854 Sq. Ft.


Structure

Structure

Architectural Style:

Multi-Level

Building Area:

2,854 Sq. Ft.

Year Built:

1900


Lot

Lot Size (Sq. Ft):

2,613


Finances & Disclosures

Finances

Price:

$499,000

Price per Sq. Ft:

$174 per Sq. Ft.

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