Six-unit multifamily on Cumberland Street offering significant upside through filling vacancies. While the property is currently 50% vacant, all units are rent-ready and positioned for immediate occupancy. The property features separate electric and a functional layout that supports straightforward management. Once fully leased, the projected stabilized cap rate is over 18%, presenting a strong return profile for investors focused on cash flow and value creation. With units ready to be placed and clear income upside through stabilization, this asset offers a defined path to improved performance in a proven rental market. Financials available upon request.
Courtesy of Elevate Maine Realty 207-203-9022
Listing Snapshot
Days Online
52
Last Updated
Full Baths
6
Square Ft.
4,680
Lot Size
0.14 Acres
Year Built
1925
MLS Number
1653046
Additional Details
Basement
Basement: "Interior", "Full", "Unfinished"
Building
Architectural Style: "Other", Building Area Total: 4,680, Construction Materials: "Vinyl Siding", "Wood Frame", Number Of Units Total: 6, Year Built: 1925
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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