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Listed by Keller Williams Realty
$360,000
6 Baths
4,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Square Footage 4,500 sqft
MLS Listing ID 1646825
Style Other
Full Baths 6
HOA Y/N No
Abv Grd Liv Area 4,500
Year Built 1923
Annual Tax Amount $2,322
Tax Year 2024
Lot Size 7,840 Sqft
Acres 0.18
Source Maine Listings
Land Area 4500
Property Description
Well-located 6-unit multifamily comprised of a desirable unit mix of three (3) 2-bedroom apartments and three (3) 3-bedroom apartments. The property currently has one rent ready vacancy, providing immediate upside through lease-up and income stabilization.
The building is operating at a 10.5% cap rate, with a clear path to increased performance. Through rent optimization and full occupancy, the property shows potential to achieve a 14%+ cap rate, making this an attractive opportunity for investors seeking both cash flow and value appreciation.
Additional upside is supported by a newer furnace, helping reduce near-term capital expenditure concerns while improving operational efficiency.
An ideal acquisition for investors looking to step into a light value-add opportunity with meaningful income growth potential.
The building is operating at a 10.5% cap rate, with a clear path to increased performance. Through rent optimization and full occupancy, the property shows potential to achieve a 14%+ cap rate, making this an attractive opportunity for investors seeking both cash flow and value appreciation.
Additional upside is supported by a newer furnace, helping reduce near-term capital expenditure concerns while improving operational efficiency.
An ideal acquisition for investors looking to step into a light value-add opportunity with meaningful income growth potential.
Location
State ME
County Oxford
Zoning Res
Rooms
Basement Interior, Full, Unfinished
Interior
Heating Hot Water, Baseboard
Cooling None
Flooring Wood, Vinyl
Exterior
Parking Features 1 - 4 Spaces, Paved, Off Street
Utilities Available 1
View Y/N No
Roof Type Flat
Garage No
Building
Lot Description Level, Intown
Story 3
Foundation Stone, Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Other
Structure Type Vinyl Siding,Wood Frame
Others
Restrictions Unknown
Energy Description Oil
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