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Property view

8 Old Orchard Road, 
Old Orchard Beach, ME 04064

$850,000


Bed


6

Baths


2,215

Sq Ft


Multi-Family

Sold

Listed by

Roslind Anton

Bought with The Maine Real Estate Group

eXp Realty

MLS#

1596904

Source:

ME MREIS

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About This Home

8 Old Orchard Road

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.

Home Facts

Multi-Family

6 Baths

Built in 1965

Price Summary

839,000

$378 per Sq. Ft.

MLS #:

1596904

Sold:

October 23, 2024


Rooms & Interior

Bathrooms

Total Bathrooms:

6

Full Bathrooms:

4

Interior

Living Area:

2,215 Sq. Ft.


Structure

Structure

Architectural Style:

Cape

Building Area:

2,215 Sq. Ft.

Year Built:

1965


Lot

Lot Size (Sq. Ft):

17,859


Finances & Disclosures

Finances

Price:

$839,000

Price per Sq. Ft:

$378 per Sq. Ft.

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