Bought with The Maine Real Estate Group
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Key Details
Sold Price $850,000
Property Type Multi-Family
Listing Status Sold
Square Footage 2,215 sqft
MLS Listing ID 1596904
Sold Date 10/23/24
Style Cape
Full Baths 4
Half Baths 2
HOA Y/N No
Abv Grd Liv Area 2,215
Originating Board Maine Listings
Year Built 1965
Annual Tax Amount $5,773
Tax Year 2024
Lot Size 0.410 Acres
Acres 0.41
Property Description
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.
Location
State ME
County York
Zoning GB-1
Rooms
Basement Full, Interior Entry, Unfinished
Interior
Interior Features Furniture Included, Other
Heating Heat Pump
Cooling Heat Pump
Flooring Tile, Laminate, Carpet
Laundry Washer Hookup
Exterior
Garage 5 - 10 Spaces, Paved, On Site, Inside Entrance, Off Street
Garage Spaces 3.0
Waterfront No
View Y/N No
Roof Type Shingle
Street Surface Paved
Porch Porch
Parking Type 5 - 10 Spaces, Paved, On Site, Inside Entrance, Off Street
Garage Yes
Building
Lot Description Level, Open Lot, Landscaped, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Near Town
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Cape
Structure Type Vinyl Siding,Wood Frame
Schools
School District Rsu 23
Others
Energy Description Electric, Solar
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Paul Rondeau
Broker Associate | License ID: BA923327
Broker Associate License ID: BA923327