8-unit multifamily investment delivering strong in-place income and substantial value-add potential. Currently operating at a 10.6% cap rate, the property includes 2 vacant units, offering immediate opportunity to renovate and lease at market rents with a projected 16%+ stabilized cap. The asset features a versatile unit mix of (1) 4-bedroom, (3) 3-bedroom, and (4) 1-bedroom units, appealing to a broad tenant base. Separate electric and a solid structure support efficient operations and long-term durability. Several long-term tenants provide consistent cash flow while improvements are executed. Well located just minutes from downtown and major employers, this is a compelling high-yield opportunity with clear upside through unit upgrades and rent optimization.
Courtesy of Elevate Maine Realty 207-879-9800
Listing Snapshot
Days Online
0
Last Updated
Full Baths
8
Square Ft.
6,300
Lot Size
0.14 Acres
Year Built
1920
MLS Number
1652952
Additional Details
Basement
Basement: "Interior", "Full", "Unfinished"
Building
Architectural Style: "Other", Building Area Total: 6,300, Construction Materials: "Vinyl Siding", "Wood Frame", Number Of Units Total: 8, Year Built: 1920
Cooling
Cooling Included, Cooling: "Window Unit(s)"
Expenses
Operating Expense: $33,570
Floors
Flooring: "Vinyl", "Tile"
Garage
Garage Included, 1 garage space
Heating
Heating: "Hot Water", "Baseboard", Heating Included
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.
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