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
Book: 31852
Leased Land: No
Page: 236
Map: 76
Lot: 14
Zoning Overlay: Unknown
Association: No
Tree Growth Y/N: No
Street #: 518
Street Name: Ossipee
Street Type: Trail
Street Direction: E
County: Cumberland
Town: Gorham
State/Province: ME
Zip Code: 04038
Zoning: SR
Full Tax Amount $: 6207
Tax Year: 2025
Geo Lat: 43.724946
Geo Lon: -70.534079
Property Information
Surveyed: Unknown
Seasonal: No
Number of Units: 9
Deed/Conveyance Type Offered: Warranty
Lot Size Acres +/-: 8.69
Total Baths: 9
Total Half Baths: 0
SqFt Finished Above Grade: 4640
SqFt Finished Below Grade: 0
Garage: No
Total Full Baths: 9
Year Built: 1941
SqFt Finished Total: 4640
Source of Acreage: Public Records
Site
Well Landscaped: 1
Location
Near Town: 1
Roads
Public: 1
Water Info
Water Frontage: No
Water View: No
Style
Ranch: 1
Construction
Wood Frame: 1
Basement
Full: 1
Exterior
Vinyl Siding: 1
Roof
Shingle: 1
Heat System
Forced Air: 1
Building Info
# Stories: 1
# Heating Units: 9
# Water Heaters: 9
Heat Fuel
Oil: 1
Income & Expenses
Gross Income: 157200
Operating Expenses: 22280.69
Cooling
None: 1
Floors
Carpet: 1
Vinyl: 1
Units
# of 2 BD Units: 9
Parking
11 - 20 Spaces: 1
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
Electric
Circuit Breakers: 1
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
Utilities
Utilities On: 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
Gas
No Gas: 1
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
Sewer: Yes
Water: Yes
Sewer
Private Sewer: 1
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
Water
Private: 1
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
Driveway
Paved: 1
Sold Info
Appraiser Email Address: tcatamount@gmail.com
Basement Entry
Doghouse: 1
Interior: 1
Water Heater
Electric: 1
Vehicle Storage
No Vehicle Storage: 1
Contract Information
Status: Closed
Original List Price: 1500000
Sold Price: $1,500,000
Current Price: $1,500,000
Status Change Info
Pending Date: 2025-07-09
Closed Date: 2025-11-18
Closed Price: 1500000
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
Deed Public Access ›
Listing Office:
Keller Williams Realty
IDX
Last Updated: November - 21 - 2025
Broker Attribution:
(207) 232-8877
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