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

Overview

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

Listing Details 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

Contract Information

Original List Price
1500000

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
Total Half Baths
0
SqFt Finished Below Grade
0

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
Yes
# Heating Units
9
# Water Heaters
9

More Information

Units

# of 2 BD Units
9

Unit 1

Lease
Yes
Level
First
Security Deposit
Yes
Monthly Rent
1500
# Full Baths
Yes
# of Rooms
Yes
# 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
Yes
# 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
Yes
# 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
Yes
# 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
Sewer
Yes

Unit 5

Lease
Yes
Level
First
Security Deposit
Yes
Monthly Rent
1300
# Full Baths
Yes
# 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
Yes
# 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
Yes
# 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
Yes
# 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
Yes
# 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

Site

Well Landscaped
Yes

Location

Near Town
Yes

Roads

Public
Yes

Style

Ranch
Yes

Construction

Wood Frame
Yes

Basement

Full
Yes

Exterior

Vinyl Siding
Yes

Roof

Shingle
Yes

Heat System

Forced Air
Yes

Heat Fuel

Oil
Yes

Income & Expenses

Gross Income
157200
Operating Expenses
22280.69

Cooling

None
Yes

Floors

Carpet
Yes
Vinyl
Yes

Parking

11 - 20 Spaces
Yes

Electric

Circuit Breakers
Yes

Gas

No Gas
Yes

Sewer

Private Sewer
Yes

Water

Private
Yes

Driveway

Paved
Yes

Basement Entry

Doghouse
Yes
Interior
Yes

Water Heater

Electric
Yes

Vehicle Storage

No Vehicle Storage
Yes

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

IDX
Listing Office: Keller Williams Realty
Selling Office: Real Broker
Last Updated: November - 21 - 2025
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 ©2026 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.
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