$1,500,000
SOLD NOV 18, 2025

518 Ossipee Trail E Gorham, ME 04038

-- Bed
9 Baths
4,640 Sq Ft
8.69 Acres

Recently Sold

$323 Per Sq Ft

8 Days on Market

Highlights

  • 8.69 Acre Lot
  • No HOA
  • Forced Air Heating System
  • Village Elementary School Rated A-
  • Landscaped
  • Carpet

About This Home

As of November 2025

Excellent Investment Opportunity! This well-maintained property features a total of 9 units, including two duplexes and a 5-unit building. Each unit is separately metered for heat and electricity, with tenants responsible for their own utilities. The property boasts a solid rental history and individual heating systems for each unit. The current owner has prioritized upkeep, with major updates already completed, including a new roof and new windows. While the property is already stable and cash-flowing, there is significant upside potential through cosmetic upgrades and rent increases, as current rents are below market. Don't miss this opportunity to own a reliable, income-producing asset with room to grow! NOI: 134,919.31

Last Agent to Sell the Property

Will Van Wickler

Keller Williams Realty Brokerage Phone: (207) 232-8877 Listed on: 07/01/2025

Keller Williams Realty

Last Buyer's Agent

Christopher Davis

Real Broker

Real Broker

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,207

Year Built

  • Built in 1941

Lot Details

  • 8.69 Acre Lot
  • Landscaped

Parking

  • Paved Parking

Home Design

  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 9 Full Bathrooms
  • 4,640 Sq Ft Home
  • 1-Story Property

Flooring

  • Carpet
  • Vinyl

Basement

  • Basement Fills Entire Space Under The House
  • Doghouse Basement Entry
  • Interior Basement Entry

Utilities

  • No Cooling
  • Forced Air Heating System
  • Private Water Source
  • Private Sewer

Listing and Financial Details

  • Tax Lot 14
  • Assessor Parcel Number 514OssipeeTrailGorham7614-1

Community Details

Overview

  • No Home Owners Association
  • 9 Units

Building Details

  • Operating Expense $22,281
  • Gross Income $157,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,207

Year Built

Built in 1941

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 8.69
  • MLS Status: Closed
  • Directions: Route 25 (Ossipee Trail) to #514 just before the Standish Town Line.
  • Above Grade Finished Sq Ft: 4640.0
  • Architectural Style: Ranch
  • Garage Yn: No
  • Building Stories: 1
  • Year Built: 1941
  • Attribution Contact: (207) 232-8877
  • Contract Information:List PriceSqFt: 323.28
  • Property Information:Seasonal: No
  • Water Info:Water View2: No
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Has Basement: Doghouse, Interior Entry, Full
  • Full Bathrooms: 9
  • Flooring: Carpet, Vinyl

Exterior Features

  • Lot Features: Near Town, Landscaped
  • Waterfront: No
  • Construction Type: Wood Frame, Vinyl Siding
  • Roof: Shingle

Garage/Parking

  • Attached Garage: No
  • Parking Features: Paved, 11 - 20 Spaces

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Private Sewer
  • Utilities: Utilities On
  • Water Source: Private

Condo/Co-op/Association

  • Association: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 378536.4
  • Parcel #: 514OssipeeTrailGorham7614-1
  • Zoning: SR

Multi Family

  • Number Of Units Total: 9
  • Annual Gross Income: 157200.0
  • Annual Operating Expense: 22280.69

Tax Info

  • Tax Annual Amount: 6207.0
  • Tax Lot: 14

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/18/2025 11/18/25 Sold $1,500,000 0.0% $323 / Sq Ft
07/09/2025 07/09/25 Pending -- -- --
07/01/2025 07/01/25 For Sale $1,500,000 0.0% $323 / Sq Ft
06/16/2025 06/16/25 Pending -- -- --
05/16/2025 05/16/25 For Sale $1,500,000 -- $323 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Will Van Wickler

    Seller's Agent in 2025

    Will Van Wickler

    Keller Williams Realty

    (207) 232-8877

    1 in this area

    232 Total Sales

    Will Van Wickler
    Section Image
  • Christopher Davis

    Buyer's Agent in 2025

    Christopher Davis

    Real Broker

    (207) 756-2442

    4 in this area

    138 Total Sales

    Christopher Davis
    Section Image
See All Agents

Map

Source: Maine Listings

MLS Number: 1622877

Maine Listings
Maine Cumberland County Gorham 04038

518 Ossipee Trail E, Gorham, ME

Sold

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