Four-Unit Duplex
170 W Grand Avenue, Old Orchard Beach, ME 04064
For Sale
$1,749,900
Two buildings provide separate utilities, varied layouts, and the flexibility for seasonal or year-round occupancy.
Property Size4,528 SF
Price / SF$386.46
Days on Market179
Property Features for 170 W Grand Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
hardwood and tile flooring
white cabinetry
stainless steel appliances
vaulted ceilings
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Portside Real Estate Group
(207) 536-4222
Listed By:
Cady Toussaint
(207) 604-2389
Source:
Amerorealty
Added: May 15
Changed: Nov 7
Last Checked: Nov 8 at 8:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Portside Real Estate Group
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Investment Insights
Based on property information with market context.
Set on a double lot in Old Orchard Beach, this multifamily property consists of two duplex buildings with four units and 4,528 square feet. The residences contain 11 bedrooms, with hardwood and tile floors, white cabinetry, and stainless steel appliances; some also have vaulted ceilings. Each unit has its own layout and separate utilities. The front building measures 2,053 square feet and received a full renovation in 2010. The rear duplex, 2,475 square feet, was constructed in 2009.
The property is moments from the beach, and the designated parking area faces Jordan Park Marsh and Wildlife Preserve. Eight parking spaces serve the four units. The buildings have been used as a private summer retreat and for seasonal rentals, and the property is suitable for seasonal or year-round use. Zoning is R-3.
The property is moments from the beach, and the designated parking area faces Jordan Park Marsh and Wildlife Preserve. Eight parking spaces serve the four units. The buildings have been used as a private summer retreat and for seasonal rentals, and the property is suitable for seasonal or year-round use. Zoning is R-3.
Key Highlights
- Two duplex buildings on a double lot, with 4 units and 4,528 square feet
- 11 bedrooms and 8 designated parking spaces
- Front building: 2,053 square feet; fully renovated in 2010
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,977
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,540
$1.4M
Cap Rate 7%
$999,671
$999.7K
Cap Rate 9%
$777,522
$777.5K
Market Conditions
NOI Build-Up for 4,528 SF
Gross rent
$134.2K $29.64/SF
− Vacancy
−$7.0K −$1.54/SF
EGI
$127.2K $28.10/SF
− OpEx
−$57.3K −$12.64/SF
NOI
$70.0K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,540
Cap Rate 7%
$999,671
Cap Rate 9%
$777,522
Alternative Uses
Best Use
Apartment 5plus
$999.7K
$874.7K – $1.17M
NOI $69,977 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.67M
NOI $100,475 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
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Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in York County, ME
Properties on Market for Multifamily properties in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings provide separate utilities, varied layouts, and the flexibility for seasonal or year-round occupancy.
Where is this multifamily property located?
The property is located at 170 W Grand Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $1,749,900.
What are key features of this property?
This property features: Two duplex buildings on a double lot, with 4 units and 4,528 square feet; 11 bedrooms and 8 designated parking spaces; Front building: 2,053 square feet; fully renovated in 2010
