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Monet Yarnell

monet@sell207.com +1(207) 461-4740

Listed by Bruce Ludka Maine Realty 2000

$9,999,500

Est. payment - /mo

30 Baths

38,592 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 38,592 sqft

Price per Sqft $259

MLS Listing ID 1660904

Full Baths 30

HOA Y/N No

Year Built 1985

Tax Year 2025

Lot Size 3.800 Acres

Acres 3.8

Source Maine Listings

Land Area 38592

Property Description

''MAJOR INVESTMENT OPPORTUNITY'' This is a rare opportunity to own this well maintained 44 unit apartment complex featuring 5 separate buildings on a beautiful 3.8 Acre lot that is extremely convenient to everything including public transportation. The 5 buildings consist of 3 three story 12 unit buildings and 2 two story 4 unit buildings, all units are 2 bedroom, 3 different styles with some including a laundry, heat & hot water included with natural gas, an additional extensive shop area / storage / office spaces with a half bath below unit #5, large shed, ample parking with guest spaces, nice lawn area, lots of updates & improvements including windows, excellent rental history, currently fully occupied with mostly long term tenants & great payment history. THIS IS A VERY SOLID ALL AROUND MULTIUNIT RENTAL PROPERTY WITH GREAT OVERALL NUMBERS, MOSTLY LONG TERM TENANTS, LOW TURNOVER, RARE VACANCIES, THE POTENTIAL FOR INCREASED RENTS, SUBSTANTIALLY MORE VERSATILITY & SIGNIFICANTLY HIGHER FINANCIAL YEILDS IN THE FUTURE WHEN THE CURRENT AFFORDABLE HOUSING USE, WITH 100% PROPERTY TAX EXEMPTION, MAY BE DISCONTINUED AND ALLOW FOR MULTIPLE OTHER OPTIONS....CALL BRUCE LUDKA FOR MORE INFORMATION.

Location

State ME

County Cumberland

Zoning 54

Direction Forest Avenue to #1390 at Meadowbrook Apartments.

Rooms

Other Rooms Shed(s)

Basement Exterior Entry, Other

Interior

Heating Gas Natural, Baseboard, Hot Water

Cooling None

Flooring Carpet, Laminate, Other, Luxury Vinyl

Exterior

Parking Features Paved, 21+ Spaces, On Site

View Trees/Woods

Roof Type Shingle

Garage No

Building

Lot Description Near Public Transit

Entry Level Multi-Level

Water Public

Architectural Style Colonial

Others

Tax ID PTLD-000294-C000068-000001

Virtual Tour https://www.propertypanorama.com/instaview/mreis/1660904

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Nearby School & Business

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Phone

+1(207) 461-4740

monet@sell207.com

Address

111 High St, Belfast, ME

1390 Forest AVE Portland, ME 04103