Renovated Three-Unit Residential
107 Ocean Avenue, Old Orchard Beach, ME 04064
MULTI_FAMILY - Other - Old Orchard Beach, ME
Property size:
2,199 SFLot size:
0.09 AcresPrice / SF:
$295/SF- Added:
- Jun 15, 2026
- Days on Market:
- 9
- Last Refresh:
- Jun 23 at 2:06 pm
Property Features for 107 Ocean Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Basement
- Parking features
- On Street
- Patio and Porch features
- Porch
- Pets allowed
- No
- Interior features
- Shower
- Basement
- Unfinished, Partial
- Standard status
- Active
- Size
- 2,199 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 4116
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Electric (Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1880
- Number of units
- 3
- Flooring type
- Tile, Wood, Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Mitchell Holman (207) 831-2518
Listing office Century 21 North East 653 Roosevelt Trail, Windham, ME (800) 844-7653
Listing date Jun 15, 2026
MLS# 1652589
Listing URL
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Three‑unit property in Old Orchard Beach with an 8.4% cap rate
- Significant renovations completed in 2022: new roof and siding, updated electrical/plumbing, numerous new windows, and exterior improvements
- 2022 upgrades include three new heating systems and three new hybrid water heaters
- Each unit is separately metered with its own electrical panel, dual heating systems, and individual propane tanks
- Two enclosed glass porches, a porch, and a backyard, plus ample basement storage
- Utilities: public water and public sewer; parking is on‑street, with a driveway installed
Overview
This three-unit residential income property offers a turnkey setup with extensive improvements completed in 2022. Exterior work includes a new roof and siding, exterior upgrades, updated electrical and plumbing systems, three new heating systems, three new hybrid water heaters, and numerous new windows. Interior renovations provide updated living spaces across all units. Additional features include two enclosed glass porches and a peaceful backyard, along with ample basement storage. Each unit is separately metered, with its own electrical panel, dual heating systems, and individual propane tanks to support straightforward management.
The property is located at 107 Ocean Avenue in Old Orchard Beach, Maine, and is described as a short distance to the beach. A driveway has been installed, reducing the need for tenants to seek off-street parking. Zoning is listed as R2, supporting multi-unit residential use in accordance with local requirements.
With renovations already completed and unit systems separated for operational independence, the property may suit investors, Airbnb-style operators, or an owner-occupant seeking a multi-unit arrangement. The listing also states an 8.4 cap rate. Buyers should confirm all details and any financing or use requirements with appropriate local authorities during due diligence.
The property is located at 107 Ocean Avenue in Old Orchard Beach, Maine, and is described as a short distance to the beach. A driveway has been installed, reducing the need for tenants to seek off-street parking. Zoning is listed as R2, supporting multi-unit residential use in accordance with local requirements.
With renovations already completed and unit systems separated for operational independence, the property may suit investors, Airbnb-style operators, or an owner-occupant seeking a multi-unit arrangement. The listing also states an 8.4 cap rate. Buyers should confirm all details and any financing or use requirements with appropriate local authorities during due diligence.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.9k | $25.44 |
| − Vacancy | −$2.8k | −$1.26 |
| EGI | $53.2k | $24.18 |
| − OpEx | −$16.0k | −$7.25 |
| NOI | $37.2k | $16.93 |
2,199 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$531.8K
$465.3K – $620.4K
NOI $37,225 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$485.5K
$424.8K – $566.4K
NOI $33,984 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$697.1K
$609.9K – $813.3K
NOI $48,795 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Old Orchard Beach
- County
- York
- State
- Maine
- Longitude
- -70.388684
- Latitude
- 43.511289
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three separately metered units with extensive 2022 renovations, dedicated heating, and a newly installed driveway for off-street parking.
Where is this triplex located?
The property is located at 107 Ocean Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Three‑unit property in Old Orchard Beach with an 8.4% cap rate; Significant renovations completed in 2022: new roof and siding, updated electrical/plumbing, numerous new windows, and exterior improvements; 2022 upgrades include three new heating systems and three new hybrid water heaters
