835 Ocean Avenue, Wells, ME 04090 (MLS # 1661953)

PRICE $795,000 BEDS 3 BATHS 1 HOME SIZE 884 sqft LOT SIZE 11,326 sqft Request More Info Schedule a Showing

Located on the corner of Ocean Avenue and Eldridge Road, this unique coastal offering includes an existing 884 square foot ranch-style home situated on approximately .26 acres just a short walk to Wells Beach. Originally built in 1935, the home features 3 bedrooms, 1-bathroom, public water, and public sewer, along with frontage on both Ocean Avenue and Eldridge Road. Seasonal marsh views and a highly desirable location near the coast create immediate appeal for investors, builders, or buyers looking to secure property in one of Wells' most sought-after beachside neighborhoods. Subject to local approvals, buyers may choose to renovate the existing structure, replace it with a new single-family residence, or remove the home entirely to construct a duplex allowing for two residential units. This flexibility creates several potential strategies including personal use, vacation ownership, long-term rental income, condominium conversion, build-and-sell opportunities, or a long-term investment hold. Potential future changes to accessory dwelling unit (ADU) regulations may further enhance the property's versatility and value. The referenced parcel division is being utilized strictly for marketing purposes and has not been formally created or recorded. Buyers also can purchase the entire undivided parcel, which offers expanded redevelopment possibilities similar to those described above, including the potential for additional lot configurations and increased overall unit yield, subject to local approvals. Few opportunities in Wells offer this combination of location, infrastructure, and redevelopment potential so close to the coast. Call today for more information!