Exceptional Income-Producing Property Just Minutes from Old Orchard Beach! This rare investment opportunity combines strong rental income with exceptional versatility.
Exceptional Income-Producing Property Just Minutes from Old Orchard Beach! This rare investment opportunity combines strong rental income with exceptional versatility. Situated in the heart of Old Orchard Beach, 62 Evergreen Avenue features a beautifully maintained duplex plus a separate rear cottage, creating multiple income streams and endless possibilities for investors, owner-occupants, or multi-generational living. The front duplex offers two thoughtfully updated 2-bedroom units, each featuring modern kitchens, newer appliances, in-unit washers and dryers, and bright, comfortable living spaces. One unit is currently owner-occupied, while the second provides dependable annual rental income. The flexibility to convert either unit to a seasonal or short-term rental offers even greater earning potential. Privately nestled behind the duplex, the detached cottage has a successful track record as a short-term vacation rental during the summer months and a winter rental from October through May, providing an additional, well-established source of income while maintaining privacy for both owners and guests. Outside, enjoy an inviting backyard retreat complete with a fenced yard, spacious patio, outdoor fireplace, and hot tub--perfect for relaxing after a day at the beach or enhancing the guest experience. With off-street parking for up to six vehicles, an established annual rental income and the potential to significantly increase revenue through seasonal rentals, this property offers both immediate cash flow and long-term upside. Whether you're looking to expand your investment portfolio, offset your mortgage with rental income, or own a flexible coastal property just moments from the beach, restaurants, shopping, and all the attractions of Old Orchard Beach, this is an opportunity you won't want to miss.