6 Unit-Old Orchard Beach, Maine
Multi-Family
for Sale
| Catylist Listing ID: |
30806378 |
| Property Subtypes: |
Mid-Rise
|
| Number of Units: |
6 Units |
| Building Size (RSF): |
2,869 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
4,775 SF
|
| Sale Price: |
$1,100,000 |
| Unit Price: |
$183,333.33 Per Unit |
| Property Use Type: |
Investment |
| Usable Size (USF): |
2,430 SF |
| Sale Terms: |
Cash to Seller, Other |
| Cap Rate: |
Undisclosed |
| Average Occupancy Rate: |
100 |
| Last Updated: |
5/18/2023 |
Overview / Comments
Year-round 6-unit apartment building within two blocks of the beach. Good mix of one and two bedroom units. Office could be converted into a studio apartment. Currently units are rented year-round month to month. Tenants pay heat, electricity, hot water and cable. All units separately metered. Good on-site parking.
Good opportunity to capture summer rentals as an AirB&B, J-1 housing, H2B or monthly vacationeers. Many options.
|
Additional Details
| Nearest MSA: |
Portland-South Portland |
| County: |
York |
| Tax ID/APN: |
OOBH-000312-000010-000016 |
| Zoning: |
R-2 |
| Percent Occupied: |
100% |
| Property Located Between: |
West Grand Ave. & Saco Ave. |
| Highway Access: |
I-195 access ramp to the Maine Turnpike is approx., 2 miles away. |
| Airports: |
Portland International Jetport |
| Site Description: |
The property is a corner lot. |
| Area Description: |
The area is residential with a mixture of single and multi-family properties. The beach is two blocks away. |
| Total Number of Buildings: |
1 |
| Property Condition: |
Good |
| Number of Stories: |
2 |
| Year Built: |
1925 |
| Year Renovated: |
1995 |
| Roof Type: |
Gable |
| Construction/Siding: |
Wood Frame |
| Exterior Description: |
Cedar shingles-painted |
| Parking Type: |
Surface |
| Parking Description: |
Parking in the rear of the building and across the street. |
| Total Parking Spaces: |
10 |
| Laundry: |
Laundromat Nearby |
| Sprinklers: |
None |
| Heat Type: |
Electricity |
| Heat Source: |
Baseboard |
| Fuel: |
Electric |
| Air Conditioning: |
Window Unit |
| Internet Access: |
Cable |
| Zoning Description: |
R-2 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Land Ownership: |
Fee Simple |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,132 |
21,270 |
50,925 |
| Median Age: |
47.83 |
45.7 |
42.66 |
| Households: |
2,155 |
9,778 |
21,992 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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