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33 Forest Avenue, Orono, ME 04473

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For Sale

$599,900

3 baths • 1 half baths • 4,125 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • $145.43
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 1602288

Courtesy Of EXP REALTY LLC
PO Box 864, Rangeley, ME 04970
(888) 439-8743

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock, Porch
  • Architecture Style
    Colonial
  • Exterior Type
    Vinyl Siding
  • Floor Covering
    Laminate, Vinyl, Wood
  • Heating System
    Baseboard, Hot Water
  • Lot Size
    0.28 Acres

Map and Directions

Directions to 33 Forest Avenue, Orono, ME 04473

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Copyright © 2024 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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