Orono ME Multi Family for Sale
$250,000
Address not provided Orono, ME 04473
- Type:
- Multi-Family
- Sq.Ft.:
- 3,838
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 6 Acres
- Year built:
- 1949
- Baths:
- 3.00
- MLS#:
- 1607001
View additional info
Courtesy: ERA Dawson-Bradford Co.
207-947-6788
ADDITIONAL INFORMATION
Fantastic and rare opportunity to own a large, beautiful 6 acre lot in Orono, ME with two rental properties. One house has two 2 bedroom units with a full, dry basement and a new propane furnace. The other house is a one bedroom unit with electric heat and a crawl space. Both houses need some work, but can provide significant income when complete. Another option could be to rent out the small house for income and restore the larger house with the new furnace to a single family home on a beautiful sloping six acre lot in a desirable neighborhood. Property is located on a dead end street across from the golf course with access to a nature reserve with trails at the end of the road. Other properties on the road include beautiful single family homes.
$599,900
33 Avenue Orono, ME 04473
- Type:
- Multi-Family
- Sq.Ft.:
- 4,125
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.28 Acres
- Year built:
- 1930
- Baths:
- 4.00
- MLS#:
- 1602288
View additional info
Courtesy: EXP Realty
888-439-8743
ADDITIONAL INFORMATION
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.
Orono Real Estate
The median home value in Orono, ME is $309,000. This is higher than the county median home value of $227,800. The national median home value is $338,100. The average price of homes sold in Orono, ME is $309,000. Approximately 63.11% of Orono homes are owned, compared to 26.95% rented, while 9.94% are vacant. Orono real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Orono real estate agent to arrange a tour today!
Orono, Maine has a population of 11,481. Orono is less family-centric than the surrounding county with 21.47% of the households containing married families with children. The county average for households married with children is 26.71%.
The median household income in Orono, Maine is $51,233. The median household income for the surrounding county is $55,125 compared to the national median of $69,021. The median age of people living in Orono is 22.5 years.
Orono Weather
The average high temperature in July is 79.7 degrees, with an average low temperature in January of 7 degrees. The average rainfall is approximately 42.4 inches per year, with 69.1 inches of snow per year.