57 Cedar Ave Old Orchard Beach, ME 04064
Highlights
- Nearby Water Access
- Country Club
- New Englander Architecture
- Public Beach
- Property is near public transit
- Corner Lot
About This Home
As of October 2024Rare 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
Keller Williams Realty Brokerage Email: scottandsunny@kw.com
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
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 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
MLS Number: 1599767
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Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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