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.


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

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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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