NOT LISTED FOR SALE

57 Cedar Ave Old Orchard Beach, ME 04064

-- Bed
7 Baths
3,257 Sq Ft
8,276 Sq Ft Lot

Last Sold October 04, 2024

Last sale price $737,000 $226 Per Sq Ft

5 Days on Market

Highlights

  • Nearby Water Access
  • Country Club
  • New Englander Architecture
  • Public Beach
  • Property is near public transit
  • Corner Lot

About This Home

As of October 2024

Rare opportunity in the heart of Old Orchard Beach! Discover an exceptional investment less than a half mile to the sand and surf. This 7-unit is fully rented (month to month) and offers immediate cash flow with 3 efficiency units, 3 one-bedroom apartments, and 1 two-bedroom apartment—all with under-market rents, providing significant potential for future income growth. Nestled in the heart of Old Orchard Beach, this property is convenient to local amenities, including shops, dining, and entertainment. Off-street parking is an added bonus, making this a prime choice for investors looking to expand their portfolio in a sought-after location. This property is perfect for long-term tenants or Airbnb potential. Don't miss out on this exceptional opportunity!

Last Agent to Sell the Property

Scott Townsend

Keller Williams Realty Brokerage Email: scottandsunny@kw.com Listed on: 08/08/2024

Keller Williams Realty

Co-Listed By

Kathy Harvey-Brown

Keller Williams Realty Brokerage Email: scottandsunny@kw.com

Last Buyer's Agent

Nancy Moreshead

The Real Estate Store

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,827

Year Built

  • Built in 1920

Lot Details

  • 8,276 Sq Ft Lot
  • Public Beach
  • Corner Lot
  • Level Lot
  • Open Lot

Home Design

  • New Englander Architecture
  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 7 Full Bathrooms
  • 3,257 Sq Ft Home
  • Unfinished Basement
  • Exterior Basement Entry
  • Laundry on main level

Flooring

  • Carpet
  • Laminate

Parking

  • Common or Shared Parking
  • Shared Driveway

Outdoor Features

  • Nearby Water Access
  • Outbuilding

Location

  • Property is near public transit
  • Property is near a golf course
  • City Lot

Utilities

  • No Cooling
  • Heating System Uses Oil
  • Baseboard Heating
  • Hot Water Heating System
  • Natural Gas Not Available
  • Private Water Source
  • Oil Water Heater

Listing and Financial Details

  • Legal Lot and Block 13 / 8
  • Assessor Parcel Number OOBH-000312-000008-000013

Community Details

Overview

  • No Home Owners Association
  • 7 Units

Recreation

  • Country Club

Building Details

  • Operating Expense $15,000
  • Gross Income $74,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,827

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 0.19
  • Road Surface Type: Paved
  • Co List Office Mls Id: 1898
  • Co List Office Phone: 207-879-9800
  • MLS Status: Closed
  • Directions: From Saco Ave, take Union Ave or Washington Ave to Cedar Ave.
  • Above Grade Finished Sq Ft: 3257.0
  • Architectural Style: New Englander, Other Style
  • Garage Yn: No
  • Year Built: 1920
  • Attribution Contact: scottandsunny@kw.com
  • Location Information:Leased Land: No
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 0.19
  • Property Information:Total Baths: 7.0
  • Property Information:SqFt Finished Above Grade: 3257.0
  • Property Information:Garage: No
  • Site:Corner Lot: Yes
  • Site:Level: Yes
  • Site:Open: Yes
  • Water Info:Water Frontage2: No
  • Water Info:Water View2: No
  • Construction:Wood Frame: Yes
  • Roof:Shingle: Yes
  • Heat System:Baseboard: Yes
  • Heat System:Hot Water: Yes
  • Heat Fuel:Oil: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Exterior:Vinyl Siding: Yes
  • Driveway:Common2: Yes
  • Basement:Unfinished: Yes
  • Floors:Laminate: Yes
  • Gas:No Gas: Yes
  • Property Information:Number of Units: 7
  • Income Expenses Gross Income: 74400.0
  • Income Expenses Operating Expenses: 15000.0
  • Location:Near Public Beach: Yes
  • Amenities:Laundry - 1st Floor: Yes
  • Recreational Water:Nearby: Yes
  • Water:Private2: Yes
  • Water Heater:Oil2: Yes
  • Location:Near Country Club: Yes
  • Washer/Dryer Other Location: Yes
  • Location:Near Railroad: Yes
  • Style:New Englander: Yes
  • Other Structures:Out Building: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Has Basement: Bulkhead, Exterior Entry, Unfinished
  • Full Bathrooms: 7
  • Flooring: Laminate, Carpet
  • Interior Amenities: Other

Exterior Features

  • Lot Features: Corner Lot, Level, Open Lot, Intown, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Neighborhood, Other, Near Railroad
  • Waterfront: No
  • Construction Type: Vinyl Siding, Wood Frame
  • Other Structures: Outbuilding
  • Roof: Shingle

Garage/Parking

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

Utilities

  • Laundry Features: Laundry - 1st Floor, Main Level
  • Cooling: None
  • Cooling Y N: No
  • Heating: Hot Water, Baseboard
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Utilities: Utilities On
  • Water Source: Private

Condo/Co-op/Association

  • Association: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 8276.4
  • Parcel #: OOBH-000312-000008-000013
  • Zoning: R2

Multi Family

  • Number Of Units Total: 7
  • Annual Gross Income: 74400.0
  • Annual Operating Expense: 15000.0

Tax Info

  • Tax Annual Amount: 6827.0
  • Tax Block: 8
  • Tax Book Number: 11844
  • Tax Lot: 13
  • Tax Map Number: 312
  • Tax Year: 23

Range of Values:

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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
10/04/2024 10/04/24 Sold $737,000 +17.9% $226 / Sq Ft
08/13/2024 08/13/24 Pending -- -- --
08/08/2024 08/08/24 For Sale $625,000 -- $192 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Scott Townsend

    Seller's Agent in 2024

    Scott Townsend

    Keller Williams Realty

    (207) 252-0720

    19 in this area

    511 Total Sales

    Scott Townsend
    Section Image

  • K

    Seller Co-Listing Agent in 2024

    Kathy Harvey-Brown

    Keller Williams Realty

    (207) 939-6195

    6 in this area

    88 Total Sales

    Kathy Harvey-Brown
    Section Image
  • Nancy Moreshead

    Buyer's Agent in 2024

    Nancy Moreshead

    The Real Estate Store

    (207) 329-3545

    114 in this area

    124 Total Sales

    Nancy Moreshead
    Section Image
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Map

Source: Maine Listings

MLS Number: 1599767

Maine Listings
Maine York County Old Orchard Beach 04064

57 Cedar Ave, Old Orchard Beach, ME

This home is located at 57 Cedar Ave, Old Orchard Beach, ME 04064 since 08 August 2024. This property was built in 1920. 57 Cedar Ave is a home located in York County with nearby schools including Jameson Elementary School, Loranger Memorial School, and Old Orchard Beach High School.

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