8 Unit complex with an 11% cap rate and great CASH FLOW - and this is without the 8th unit rented!! This property consists of a 4 unit building, a single family, a very large barn that could be used for storage and has an efficiency along with 2 mobile homes. A few updates include new metal roofs, a few updated units, all underground pipes were excavated and placed under frost line in 2020 and a new well water pump installed in 2020. This property is ready for another investor to enjoy the cash flow or possibly update it further and potentially add units on the 8 acres. The financials speak for themselves!!
Closed
$494,000
171 Riverside Drive, Eddington, ME 04428
16beds
6,700sqft
Multi Family
Built in 1940
-- sqft lot
$599,700 Zestimate®
$74/sqft
$1,373 Estimated rent
Home value
$599,700
$462,000 - $744,000
$1,373/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: January 12, 2025 at 07:12pm
Listed by:
NextHome Experience
Bought with:
Non MREIS Agency
Source: Maine Listings,MLS#: 1547124
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 16
- Bathrooms: 8
- Full bathrooms: 8
Heating
- Hot Water, Zoned
Cooling
- None
Features
- 1st Floor Bedroom, One-Floor Living, Shower
- Flooring: Laminate, Vinyl, Wood
- Basement: Doghouse,Interior Entry,Bulkhead,Dirt Floor,Walk-Out Access,Full,Sump Pump,Unfinished,Brick/Mortar
Interior area
- Total structure area: 6,700
- Total interior livable area: 6,700 sqft
- Finished area above ground: 6,700
- Finished area below ground: 0
Property
Parking
- Total spaces: 4
- Parking features: Gravel, 21+ Spaces, Detached
- Garage spaces: 4
Features
- Has view: Yes
- View description: Trees/Woods
Lot
- Size: 8 Acres
- Features: Near Town, Rural, Level, Open Lot
Details
- Additional structures: Barn(s)
- Parcel number: EDDIM005L009003099
- Zoning: MU
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial,Other
- Property subtype: Multi Family
Materials
- Mobile, Wood Frame, Vinyl Siding, Wood Siding
- Foundation: Slab, Stone, Brick/Mortar
- Roof: Metal,Shingle
Condition
- Year built: 1940
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Private Sewer
- Water: Private, Well
- Utilities for property: Utilities On
Community & neighborhood
Location
- Region: Eddington
Other
Other facts
- Body type: Single Wide
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 3/23/2023 | Sold | $494,000-20.2%$74/sqft |
Source:  Maine Listings #1547124 Report a problem | ||
| 1/25/2023 | Pending sale | $619,000$92/sqft |
Source: Maine Listings #1547124 Report a problem | ||
| 11/10/2022 | Price change | $619,000+3.2%$92/sqft |
Source: Maine Listings #1547124 Report a problem | ||
| 11/10/2022 | Price change | $600,000-7.6%$90/sqft |
Source:  NextHome #1547124 Report a problem | ||
| 11/7/2022 | Price change | $649,000+8.2%$97/sqft |
Source: Maine Listings #1547124 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $669 +14% | $33,858 |
| 2023 | $587 +6% | $33,858 |
| 2022 | $554 +3.7% | $33,858 +10% |
Find assessor info on the county website
Neighborhood: 04428
Nearby schools
GreatSchools rating
- NAEddington SchoolGrades: PK-1Distance: 1.8 mi
- 7/10Holbrook SchoolGrades: 5-8Distance: 7.3 mi
- 9/10Holden SchoolGrades: 2-4Distance: 5.8 mi
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