290 Penney Road, New Gloucester, ME 04260 (MLS # 1678845)

Price $449,999
Status Active Under Contract
Beds 0
Baths 3 Baths
Home size 2,752 sqft
Lot Size 1.09 ac
Discover this versatile and meticulously maintained property that offers a unique blend of residential and commercial potential. The property features three separate units: two spacious 2-bedroom, 1-bathroom units ideal for tenants or extended family, and a third unit permitted as a 1-chair hair salon, which the has been renting out as a comfortable studio apartment. A detached 2-car garage provides ample parking and storage, while each unit has its own separate utilities, simplifying management and billing. The property has been very well cared for and is in excellent condition, reflecting pride of ownership. Currently generating over $5,000 per month, it offers strong income potential and cash flow. Additionally, the property has been pre-inspected for general building and septic systems, ensuring peace of mind with no surprises. Whether you're an owner-occupant looking for a live-in space with rental income or an investor seeking a turnkey asset with commercial flexibility, this property presents an outstanding opportunity to own a well-priced, income-producing asset with excellent future potential.
Property Type(s): Multi Family
Last Updated 10/16/2026 Year Built 1982
Garage Spaces 2.0 County Cumberland

Additional Details

AIR Heat Pump, Other
AIR CONDITIONING Yes
BASEMENT Finished, Full, Partial, Yes
CONSTRUCTION Frame, Other, Vinyl Siding
GARAGE Yes
HEAT Forced Air, Heat Pump, Propane
LOT 1.09 acre(s)
LOT DESCRIPTION Level
LOT DIMENSIONS 1.09
MLS STATUS Active Under Contract
PARKING Gravel, Detached
SEWER Private Sewer
STORIES 1
STYLE Other, Ranch
TAXES 3532
WATER Private
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Listing data is derived in whole or in part from the Maine IDX & is for consumers'' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.© 2026 Maine Real Estate Information System, Inc. All Rights Reserved.

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