19 Unit Apartment

Multi-Family for Sale
Catylist Listing ID: 30498976
Property Subtypes: Low-Rise/Garden, Other
Number of Units: 19 Units
Building Size (RSF): 13,216 SF
Gross Land Area: 4.50 Acres
Sale Price: $950,000
Unit Price: $50,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/14/2020

Overview / Comments

Modern Nineteen Unit Apartment Complex in excellent condition and fully occupied. This property offers exceptional cash flow, financials and a capitalization rate of 8.89%. Comprised of two buildings on 4.5 acres; the larger fifteen unit building was constructed in 1990 as an assisted living facility and later converted to apartments. The four unit was built in 2009 and features all two bedroom units and a sprinkler system. Both buildings are single story and handicapped accessible. The spacious lot offers ample paved parking and the ability to add eight additional units. The property also features public water, sewer, and underground electrical power installed. Nice quiet rural setting yet less then a mile to I-95 and closer then you might think to Waterville (15 minutes), Augusta (30 minutes), Bangor (45 minutes) and Portland (1 hour, 15 minutes). Please DO NOT go to property or speak with tenants unless on a showing with the listing agent

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Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Tax ID/APN: CLNT-000016-000000-000020

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,157 9,924
Median Age: 41.41 40.93
Households: 1,674 4,050


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