Orono, ME 04473 33 Forest Avenue
$650,000
64 more
Presented By: EXP Realty;
Home Details
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.
Presented By: EXP Realty;
Interior Features for 33 Forest Avenue
Bathrooms
Half Baths1
Total Baths4
Other Interior Features
Above Grade Finished Area4125.0
Air Conditioning Y/NNo
BasementFull, Interior Entry, Unfinished
Basement (Y/N)No
Below Grade Finished Area0.0
Electric On Property Y/NNo
Fireplace Y/NNo
FlooringWood, Vinyl, Laminate
Heating Y/NYes
Laundry FeaturesLaundry - 1st Floor, Upper Level, Main Level
Total Fireplaces
General for 33 Forest Avenue
Additional Parcels Y/NNo
Architectural StyleDuplex, Cottage, Colonial, Multi-Level, Ranch
Attached Garage No
Carport Y/NNo
CityOrono
Construction MaterialsVinyl Siding, Clapboard, Wood Frame
CoolingNone
CountyPenobscot
ElectricCircuit Breakers
Full Baths3
Garage Y/NNo
Gross Income80400.0
HeatingMulti-Zones, Hot Water, Baseboard
Home Owner Association Y/NNo
Home Warranty Y/NNo
Interior Features1st Floor Bedroom, In-Law Floorplan, One-Floor Living, Storage
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet12196.8
Lot Size UnitsAcres
MobileHomeRemainsYNNo
New ConstructionNo
NumberOfUnitsTotal3
Operating Expense18446.0
Other StructuresShed(s)
Patio/Porch FeaturesGlass Enclosed, Porch
Property TypeMulti-Family
Property_sp_Information_co_Owner_sp_OccupiedNo
Rent Control Y/NNo
RoofShingle
Senior Community Y/NNo
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount8359.0
Tax Lot030
Tax Year2024
View Y/NNo
Waterfront Y/NNo
Year Built1930
ZoningMDR
Exterior for 33 Forest Avenue
Building Area Total4125.0
Crops Included Y/NNo
Foundation DetailsStone, Concrete Perimeter, Brick/Mortar
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLevel, Open Lot, Sidewalks, Intown, Near Golf Course, Near Shopping
Lot Size Acres0.28
Lot Size Area0.28
Lot Size SourcePublic Records
Open Parking Y/NNo
Parking Features5 - 10 Spaces, Paved, Off Street
Road Surface TypePaved
SpaNo
Water SourcePublic
Additional Details
Price History
Morgan Camplin
Loan Officer