Looking for a turnkey multi-unit, the major work has already been done AND short distance to the beach? Then welcome to 107 Ocean Ave in Old Orchard Beach, offering a cap rate of 8.
Looking for a turnkey multi-unit, the major work has already been done AND short distance to the beach? Then welcome to 107 Ocean Ave in Old Orchard Beach, offering a cap rate of 8.4! This three unit property has had significant renovations completed in 2022, which include a new roof and siding, exterior improvements, updated electrical and plumbing systems, three new heating systems, three new hybrid water heaters, and numerous new windows! Extensive interior renovations have also been completed, offering updated living spaces throughout. Additional features include two closed in glass porches, a peaceful backyard, and ample basement storage. A driveway has been installed, so no need for tenants to look for off street parking! Each unit is separately metered with its own electrical panel, dual heating systems, and individual propane tanks, which offer ease of management. Whether you're seeking an investment property, Airbnb, or owner occupied multi-unit in a desirable location that the heavy lifting has already been done, please reach out to me!