Kennebunk Income Property

Multi-Family for Sale
Catylist Listing ID: 30149081
Property Subtypes: Low-Rise/Garden
Number of Units: 7 Units
Building Size (RSF): 6,054 SF
Gross Building Area: See Agent
Gross Land Area: 0.19 Acres
Sale Price: $828,000
Unit Price: $118,285.71 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Last Updated: 11/14/2017

Overview / Comments

Beautiful Greek Revival Colonial in Kennebunk Village. Walking distance to all town services and amenities. Just a stone's throw from the Mousam River.

This is an impossible to find 7-unit building in Kennebunk. Very strong rental market. Demand far exceeds supply in this attractive coastal town. Owners are in the process of adding two new exterior fire escapes and formalizing the Town approval of this building as a legal 7 unit. Looks to be a solid 8% Cap Rate!

It's currently demised nicely into two (2) two-bedroom apartments and five (5) one-bedroom apartments. Updates and improvements have been done. This attractive income property shows very well.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $5,006 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Taxing Authority: Town of Kennebunk
Tax ID/APN: 051/097
Zoning: VR -- VILLAGE RESIDENTIAL

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,102 12,056 21,873
Median Age: 49.79 49.34 48.21
Households: 1,503 5,332 9,223

Contact

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