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117 & 115 Park Street, 
Orono, ME 04473

$525,000


Bed


3

Baths


3,385

Sq Ft


Multi-Family

Pending

Listed by

Florentina Davis

Nexthome Experience

Last updated:

February 23, 2026, 05:09 PM

MLS#

1652214

Source:

ME MREIS

About This Home

117 & 115 Park Street

Exceptional income-producing package located just one mile from the University of Maine, offering two fully leased and well-maintained properties in a prime in-town setting. This unique opportunity includes a 2-unit duplex at 117 Park Street (2BR/1BA and 3BR/1BA) along with a 4BR/1BA single-family home at 115 Park Street--ideal for investors seeking strong, consistent cash flow in Orono's high-demand rental market. Extensive capital improvements further enhance long-term value and operational efficiency. At 115 Park Street, updates include a new roof (2024), new boiler (2023), new electrical system (2023), and new appliances (2018). At 117 Park Street, renovations include a complete upstairs gut renovation (2012), full downstairs remodel (2013), new electrical system (2013), new appliances (2013), new vinyl siding and trim (2014), and building envelope upgrades with 1'' foam insulation (2014). These substantial improvements help minimize deferred maintenance and support long-term investment stability. Currently generating $63,600 in gross annual income, the property delivers immediate cash flow with clear upside potential as rents are brought to market rates. In addition to its proximity to the University of Maine, shopping, dining, and everyday amenities, the property is positioned in an area experiencing continued investment and development--including a recently approved Starbucks location by the local planning board. The Commercial 11:11 zoning permits up to five unrelated occupants per unit--creating the potential for 15+ tenants across three units and offering compelling value-add and future expansion opportunities. Offered at $525,000, this is a standout investment opportunity in Orono's thriving rental market.

Home Facts

Multi-Family

3 Baths

Built in 1920

Price Summary

525,000

$155 per Sq. Ft.

MLS #:

1652214

Last Updated:

February 23, 2026, 05:09 PM


Rooms & Interior

Bathrooms

Total Bathrooms:

3

Full Bathrooms:

3

Interior

Living Area:

3,385 Sq. Ft.


Structure

Structure

Architectural Style:

Colonial, Contemporary

Building Area:

3,385 Sq. Ft.

Year Built:

1920


Lot

Lot Size (Sq. Ft):

25,264


Finances & Disclosures

Finances

Price:

$525,000

Price per Sq. Ft:

$155 per Sq. Ft.

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MREIS Multiple Listing Service™ systemListing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.