Bought with Maine Street Realty, Inc.
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Key Details
Sold Price $227,500
Property Type Multi-Family
Listing Status Sold
Square Footage 3,000 sqft
MLS Listing ID 1507426
Style Other
Full Baths 4
Year Built 1950
Annual Tax Amount $2,120
Tax Year 2020
Lot Size 0.480 Acres
Property Description
Are you looking for $Cash Flow$? Then look not further than this 4 unit building, plus garage with 12ft ceilings, plus a complete bonus storage/workshop above the garage on the second story. With ground level access to both the upper and lower units the possibilities are endless. Lower units were once a store, garage has been used for a fabrication and metalworking facilities and that doesn't count the upper units. The garage was built with R-22 ICF (insulated concrete forms) and has been pre-plumbed for hot water heating with zone from main building. Dedicated 200 amp service with meter and panel. 10 Ft garage door Great opportunity to be a live-in owner and have your tenants cover your housing and even a good portion of your living expenses. Start your own business and have the commercial space you need in addition to housing all in one easily financeable package. This fully rented fourplex is currently leased at will but all tenants are multi-year. Total vacancy since current owner purchased the building in 2003 is an amazing 2.4%.
Centrally located with convenient access to the market square business district, post office, hospital, schools , playgrounds, grocery store and meandering river.
- 35 minutes to Sunday River ski area.
- 25 minutes to Mt Abram ski area.
- 5 minutes to Stephens Memorial Hospital.
- 5 minutes to Oxford Hills. Comprehensive High School.
- 13 minutes to Oxford Casino.
With newer roofing, heating system, and many updates the realm of possible revenue sources nearly limitless. With strong rental demand and plenty of amenities close by the future looks bright for this investment. Current rents already blow the 1% rule most investors look for away by nearly an additional 50%. Rents have been held constant due to long term tenants and are below market. Many value add options to leverage ROI even higher. Limited photos of interior for tenant privacy.
Location
State ME
County Oxford
Zoning 11
Interior
Heating Hot Water, Baseboard
Cooling None
Flooring Vinyl, Tile, Other, Laminate
Equipment Internet Access Available
Exterior
Parking Features Storage Above, Auto Door Opener, 5 - 10 Spaces, Paved, On Site, Detached, Off Street
Garage Spaces 2.0
Utilities Available 1
View Y/N No
Roof Type Metal
Building
Lot Description Corner Lot, Intown
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding,Wood Frame
Schools
School District Rsu 17/Msad 17
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