UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Square Footage 6,247 sqft
MLS Listing ID 1633758
Style Other,Colonial
Full Baths 7
HOA Y/N No
Abv Grd Liv Area 6,247
Year Built 1940
Annual Tax Amount $3,921
Tax Year 2025
Lot Size 0.570 Acres
Acres 0.57
Source Maine Listings
Land Area 6247
Property Description
This is the kind of property investors dream about. A cap rate north of 10 percent, steady income, and the chance to own an entire street. Opportunities like this do not come along often.
You get three well-maintained buildings plus an oversized garage. The first building is a spacious three unit with a 3 bedroom, 1 bath, a 2 bedroom, 2 bath, and a 2 bedroom, 1 bath. Two units have been beautifully renovated, and the third is home to a long-term tenant of more than 15 years.
The second building delivers two massive apartments, each well over 1,300 square feet. One is a 3 bedroom, 1 bath, and the other is a 2 bedroom, 1 bath. Both are in great condition and rented to quality tenants.
The third building is a charming 2-3 bedroom, 1 bath single family home with spotless tenants who treat the place like their own. Add in an oversized two car garage for bonus income potential, and you have multiple revenue streams on day one.
Tenants love the yards, quiet dead end location, and open parking lot where kids can safely ride bikes and play. You will love the consistent occupancy and strong rental history.
Perfectly located under 10 minutes to Newport, 15 minutes to Pittsfield, and just 35 minutes to Bangor, Waterville, and Skowhegan. With the 100 percent bonus depreciation that just passed, the timing could not be better to lock this in and offset your taxes.
Serious investors know that opportunities like this do not sit around. Call today before someone else takes it off the market.
Location
State ME
County Penobscot
Zoning Mixed use
Rooms
Basement Interior, Full, Unfinished
Interior
Interior Features 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath
Heating Other Heat System, Hot Water, Heat Pump, Forced Air
Cooling Window Unit(s), Heat Pump
Flooring Wood, Tile, Laminate, Carpet
Exterior
Parking Features 5 - 10 Spaces, Paved, Detached
Garage Spaces 2.0
View Y/N No
Roof Type Shingle
Street Surface Paved
Garage Yes
Building
Lot Description Open, Level, Near Golf Course, Near Turnpike/Interstate, Near Town
Sewer Public Sewer
Water Public
Architectural Style Other, Colonial
Structure Type Wood Siding,Vinyl Siding,Wood Frame
Others
Energy Description Oil, K-1Kerosene, Electric
