UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,144 sqft
Price per Sqft $218
MLS Listing ID 1671323
Bedrooms 3
Full Baths 3
HOA Y/N No
Year Built 1900
Tax Year 2024
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type Single Family Residence
Source Maine Listings
Land Area 1144
Property Description
Unlock substantial value with this versatile 3-unit multi-family property located in the heart of Bangor. Whether you are looking for a savvy owner-occupied residence to offset your mortgage or a turnkey addition to your investment portfolio, this property offers strong economic potential in a high-demand rental market. Unit Composition: 3 residential units totaling 3 bedrooms and 3 full baths. The owner chose not to fill 3rd unit for listing, but has had all 3 units filled and had interest in the current unit. At 700 USD per unit, leases are currently below market value and generate roughly ~25000 USD, gross, per year. Turnkey Portfolio Addition: Benefit from established rental history and the opportunity to optimize the 3rd unit for maximum economic performance. Expenses for 2025 were 6,787.63 USD (natural gas for heat and hot water for all tenants, the building share of water/sewer/electric, insurance and property taxes)--NOI of over 18000! Owner-Occupied Advantage: Use the rental income from two units to significantly offset your mortgage while building equity in a competitive Maine market.
Location
State ME
County Penobscot
Zoning URD-1
Rooms
Basement Interior Entry, Full, Sump Pump, Unfinished
Interior
Interior Features 1st Floor Bedroom
Heating Gas Natural, Baseboard, Hot Water
Cooling None
Flooring Carpet, Laminate, Vinyl, Linoleum
Equipment Internet Access Available
Furnishings Unfurnished
Fireplace No
Appliance Electric Range, Refrigerator
Exterior
Parking Features Paved, 1 - 4 Spaces, On Site
Waterfront Description Nearby,River/Brook/Stream
Roof Type Shingle
Accessibility 32 - 36 Inch Doors
Porch Deck, Porch
Garage No
Building
Lot Description Near Shopping, Near Town, Shopping Mall, Rolling Slope
Entry Level Multi-Level
Foundation Stone, Poured Concrete, Brick/Mortar
Water Public
Architectural Style New Englander, Other
Schools
School District Bangor Public Schools
Others
Tax ID BANG-000030-000000-000038
Nearby School & Business