Catylist ID:
#30855374
Old Orchard Beach Short Term Rental Property - Coming Soon!
Hospitality
for Sale
| Catylist Listing ID: | 30855374 |
| Property Subtypes: | Vacation Rental(s) |
| Number of Units: | 1 Units |
| Building Size (RSF): | See Agent |
| Gross Building Area: | See Agent |
| Sale Price: | $849,000 |
| Unit Price: | $849,000 Per Unit |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 9/14/2023 |
Overview / Comments
|
Welcome to 18 Wesley Avenue, also known as The Eagle's Nest. Now is your chance to own this Short-Term-Rental Property being sold fully furnished & turnkey that brings in over $155,000 in income annually. This stunning home is nestled near the Seaside Pavilion and closely situated to 7 miles of sandy beach along the Atlantic Ocean, in Old Orchard Beach; a city full of fresh air, hospitality, and rustic charm. Before planning this home in 2020, the owner wondered how the new would interact and harmonize with the surroundings, so that they could form a harmonious combination without dimming the spirit and individuality of the house itself, which serves as an experience, a space to create memories and a multi-generational place of reprieve for many. The aftermath is a prime example of modern/vintage interplay inside a home! The floor plan draws its inspiration from traditional multi-level homes, which includes three areas consisting of two separate living areas and kitchens in the heart of the home and bedrooms located on every floor and a roof top deck to entertain and take in the fresh air. Vintage elements include the original polished floors, eclectic collection of original hardwood which lends itself perfectly to the headboards and the modern sinks and the original beams that dominate the second floor living quarters, exuding character. The juxtaposition of modernity and history create this enchanting home; separate quarters contrasting. The metaphor for the relation between the old and the new, the private and the common, indoor, and outdoor that provides a quiet sanctuary for all to enjoy and for memories to be created. This home is perfect for investors looking for a strong Airbnb income or an ideal compound to occupy! Not to be overlooked; chances like this are hard to find! 4 Bedrooms, 4 Bathrooms Average Daily Rate: $1,640 (height of the seasonal rental) Expected occupancy rate: 91.30% (height of the seasonal rental) Yearly income: 2022 - $158,504.00 2023 - $154,747.65 (to date) Yearly expected expenses: $25,751.68 Need annual permit & verify current rental situation. |
Attachments & Media
Financials
| Finance Data Year | 2023 |
|---|---|
| Real Estate Taxes - Annual($) | $7,708 (Annual) |
| Potential Rental Income | $154,747 (Annual) |
| Gross Operating Income | $22,375 (Annual) |
| Actual or Proforma Year | Actual |
| Finance Data Year | 2022 |
| Real Estate Taxes - Annual($) | $7,708 (Annual) |
| Potential Rental Income | $158,504 (Annual) |
| Gross Operating Income | $22,375 (Annual) |
| Net Operating Income | $136,128 (Annual) |
| Actual or Proforma Year | Actual |
Additional Details
| Nearest MSA: | Portland-South Portland |
| County: | York |
| Tax ID/APN: | 31200-311-12-6 |
| Zoning: | R2 |
| Retail Clientele: | General, Family, Business, Traveler, Tourist, Convention, Other |
| Construction/Siding: | Vinyl Siding |
| Sprinklers: | Wet |
| Heat Type: | Electricity |
| Heat Source: | Heat Pump |
| Air Conditioning: | Other |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 4,987 | 19,773 | 49,997 |
| Median Age: | 47.72 | 44.93 | 42.22 |
| Households: | 2,614 | 9,153 | 21,479 |
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