518 Ossipee Trail E, Gorham, ME 04038 (MLS# 1622877)

518 Ossipee Trail E, Gorham, ME 04038

$1,500,000
Property Type: Multi-Family Baths: 9 Square Footage: 4,640 Lot Size (sq. ft.): 378,536 Status: Closed
Current Price: $1,500,000 List Date: 7/01/2025 Last Modified: 11/21/2025

Description

Excellent Investment Opportunity! This well-maintained property features a total of 9 units, including two duplexes and a 5-unit building. Each unit is separately metered for heat and electricity, with tenants responsible for their own utilities. The property boasts a solid rental history and individual heating systems for each unit. The current owner has prioritized upkeep, with major updates already completed, including a new roof and new windows. While the property is already stable and cash-flowing, there is significant upside potential through cosmetic upgrades and rent increases, as current rents are below market. Don't miss this opportunity to own a reliable, income-producing asset with room to grow! NOI: 134,919.31

Supplements: ********

More Information MLS# 1622877

Location Information

Street #: 518 Street Name: Ossipee Street Type: Trail Street Direction: E County: Cumberland Town: Gorham State/Province: ME Zip Code: 04038 Leased Land: No Book: 31852 Page: 236 Map: 76 Lot: 14 Zoning: SR Zoning Overlay: Unknown Association: No Full Tax Amount $: 6207 Tax Year: 2025 Tree Growth Y/N: No Geo Lat: 43.724946 Geo Lon: -70.534079

Contract Information

Status: Closed Original List Price: 1500000 Sold Price: $1,500,000 Current Price: $1,500,000

Property Information

Surveyed: Unknown Seasonal: No Deed/Conveyance Type Offered: Warranty Number of Units: 9 Total Baths: 9 Total Full Baths: 9 Year Built: 1941 SqFt Finished Above Grade: 4640 SqFt Finished Total: 4640 Garage: No Lot Size Acres +/-: 8.69 Source of Acreage: Public Records

Status Change Info

Pending Date: 2025-07-09 Closed Date: 2025-11-18 Closed Price: 1500000

Water Info

Water Frontage: No Water View: No

Building Info

# Stories: 1 # Heating Units: 9 # Water Heaters: 9

Units

# of 2 BD Units: 9

Unit 1

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1500 # Full Baths: 1 # of Rooms: 1 # of Bedrooms: 4 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 2

Lease: No Level: First Security Deposit: Yes Monthly Rent: 1500 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 3

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1400 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 4

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1500 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Water: Yes

Unit 5

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1300 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 6

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1500 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 7

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1400 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 8

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1500 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 9

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1500 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Sold Info

Appraiser Email Address: tcatamount@gmail.com

Property Features

Site: Well Landscaped Location: Near Town Roads: Public Style: Ranch Construction: Wood Frame Basement: Full Basement Entry: Doghouse; Interior Exterior: Vinyl Siding Roof: Shingle Heat System: Forced Air Heat Fuel: Oil Water Heater: Electric Cooling: None Floors: Carpet; Vinyl Driveway: Paved Parking: 11 - 20 Spaces Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: No Gas Sewer: Private Sewer Water: Private

Documents

Listing Office: Keller Williams Realty
Last Updated: November - 21 - 2025
518 Ossipee Trail E, Gorham, ME 04038- MLS# 1622877
Broker Attribution: (207) 232-8877
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. Copyright ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.
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