Price Reduced 7.71%

$599,900

Est. Mortgage $0/mo *

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Price History

$650,000
9/3/2024

$599,900
10/18/2024

33 Forest Avenue, Orono, ME, 04473

33 Forest Avenue, Orono, ME, 04473
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3 Full / 1 Half baths

1930

Duplex, Cottage, Colonial, Multi-Level, Ranch

4,125 sqft

Discover a unique investment opportunity in the heart of ORONO—ideal for capitalizing on the high demand for university-adjacent housing. 🗝This prime property features a spacious duplex, and a sweet, detached ranch home, all on the same lot, offering possibilities for either income producing or owner occupied options. The duplex consists of a 3-bedroom, 1.5-bath unit on the first floor and a 4-bedroom, 1-bath unit on the second floor, perfect for accommodating student groups or families. The renovated 2-bedroom, 1-bath cottage comes with its own private backyard, providing additional space to expand your living & entertaining area outdoors. The units are all in move-in ready condition, and feature modern improvements combined with the old house charm of hardwood floors, enclosed porches and built-ins. Each apartment has it's own laundry, which is a must-have amenity for prospective tenants. Natural gas heating ensures energy efficiency and cost savings, making this property even more appealing. The newly paved driveway offers ample parking space, enhancing the value for potential renters. Located in a sought-after area close to the university, this property is a rare find for investors looking to secure consistent rental income in a thriving market. 2023 gross rental income was over $80k and is rarely vacant due to word-of-mouth interest whenever an apartment becomes available.

Status:

Active

Type:

Multi-family

Laundry Remarks:

Laundry - 1st Floor, Upper Level, Main Level

Units:

3

Zoning:

MDR

Frontage:

62

Heating:

Multi-Zones, Hot Water, Baseboard

Cooling:

None

Basement:

Full, Interior Entry, Unfinished

Parking:

5 - 10 Spaces, Paved, Off Street

Acreage:

0.28

Est. Taxes:

$8,359

Construction

Vinyl Siding, Clapboard, Wood Frame

Lot Description:

Level, Open Lot, Sidewalks, Intown, Near Golf Course, Near Shopping

Amenities:

1st Floor Bedroom, In-Law Floorplan, One-Floor Living, Storage

MLS #:

1602288

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of EXP Realty