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Property Description

A rare two unit opportunity in the heart of Biddeford that blends flexibility, income, and lifestyle in one smart move. With 2,152 square feet total, this well maintained property offers two spacious units, each featuring three bedrooms and one full bathroom, opening the door to multiple possibilities.

The first floor unit is occupied by a long term tenant (month-to-month Rental Agreement) and offers easy single level living with hot water baseboard heat. Upstairs, the second unit is vacant and move in ready after recent updates including fresh interior paint, some new flooring, and new fixtures. This unit is heated by a Rinnai heater with electric baseboard backup and features a charming sun porch, perfect for unwinding after a long day.

Both units include separate laundry hookups, vinyl windows, and thoughtful layouts. Major improvements include a sewer line replacement approximately five years ago and a roof replaced approximately seven years ago. The property also underwent lead paint abatement in 2014, offering peace of mind for future owners.

Outside, enjoy a deep paved driveway for off street parking, a fenced in front yard, and a separate fenced in back yard, a rare find for a multi unit property. This building has consistently generated $51,000 per year in rental income and presents an excellent opportunity for owner occupancy, multi generational living, or renting both units.

Located in an intown neighborhood close to downtown Biddeford, you are minutes from local restaurants, breweries, shops, the riverwalk, and the growing arts and dining scene. Quick access to the Maine Turnpike, nearby beaches, and the University of New England makes this location as convenient as it is exciting.

Strong numbers, smart updates, and a location people love. This is Biddeford living done right.

(Interior photos are virtually staged)

Overview

Property Status
Sold
Lot Size
3,920.4 Sq.Ft.
MLS ID
1650253
Property Type
Multi-Family
Year Built
1900

Features & Amenities

Total Area
2,142 Sq.Ft.
Neighborhood
Biddeford
Architecture Styles
New Englander
Stories
2
Water Source
Public
Utilities
Utilities On
Roof
Shingle
Lot Features
Level, Sidewalks, Intown, Near Shopping, Near Turnpike/Interstate, Near Railroad
Parking
1 - 4 Spaces, 5 - 10 Spaces, Paved, On Site, Off Street
Heat Type
Zoned, Hot Water, Forced Air, Direct Vent Heater, Baseboard
Air Conditioning
None
Laundry Room
Laundry - 1st Floor, Upper Level, Main Level, Washer Hookup
Other Interior Features
1st Floor Bedroom, One-Floor Living, Other, Shower, Storage
Sewer
Public Sewer
Sales Price
$497,500
Real Estate Tax
$4,956/yr
Zoning
R2

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5 Oak Place

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for your interest in 5 Oak Place, Biddeford, ME 04005

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