5,7,9 Renewal Street

Corinna, ME 04928
Baths
7
Square Ft.
6,247
$675,000
Cash Cow Alert! 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 willRead MoreRead Less
Market LogoCourtesy of Real Broker 207-272-3954
Listing Snapshot
Days Online
9
Last Updated
Full Baths
7
Square Ft.
6,247
Lot Size
0.57 Acres
Year Built
1940
MLS Number
1633758
Additional Details
Property Access
Road Surface Type: "Paved"
Basement
Basement: "Interior", "Full", "Unfinished"
Building
Architectural Style: "Other", "Colonial", Building Area Total: 6,247, Construction Materials: "Wood Siding", "Vinyl Siding", "Wood Frame", Number Of Units Total: 6, Year Built: 1940
Cooling
Cooling Included, Cooling: "Window Unit(s)", "Heat Pump"
Expenses
Operating Expense: $21,520
Floors
Flooring: "Wood", "Tile", "Laminate", "Carpet"
Garage
Garage Included, 2 garage spaces
Heating
Heating: "Other Heat System", "Hot Water", "Heat Pump", "Forced Air", Heating Included
Income
Gross Income: $89,040
Interior Features
Features: "1st Floor Bedroom", "1st Floor Primary Bedroom w/Bath"
Lot
Features: "Open", "Level", "Near Golf Course", "Near Turnpike/Interstate", "Near Town", 0.57 acres, Area: 0.57, 24,829 square feet
Parking
Features: "5 - 10 Spaces", "Paved", "Detached"
Property
Parcel Number: 5renewalstreetcorinna04928, Zoning: Mixed use
Roof
Roof: "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: $3,921, Tax Lot: 041
Utilities
Electric: "Circuit Breakers", Water Source: "Public"
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30 Days Snapshot Of 04928
$125k
-50%
(avg) sold price
2
-33%
homes sold
53
-63%
(avg) days on market
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Fred Andrews
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Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.