Fully Leased Downtown Apartment Building

Multi-Family for Sale
Catylist Listing ID: 30457120
Property Subtypes: Mid-Rise
Number of Units: 18 Units
Building Size (RSF): 22,816 SF
Gross Land Area: 0.23 Acres
Sale Price: $3,700,000
Unit Price: $205,555.56 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Last Updated: 9/16/2019

Overview / Comments

PRICE REDUCED! Fully leased downtown luxury apartment building. Building amenities include intercom guest entry, on-site parking, elevator, laundry services and individual storage space. 18 apartments feature climate control, granite counter tops, stainless steel appliances and custom woodwork.

Located in downtown Bangor, within walking distance to many shops, restaurants, Hollywood Casino, Darlington's Waterfront Pavilion and the Cross Insurance Arena. Convenient access to the Maine Turnpike and a short commute to the University of Maine and Eastern Maine Medical Center. See attached non-disclosure agreement for complete investor Offering Memorandum.

Additional Details

Nearest MSA: Bangor
County: Penobscot
Submarket/Township: Bangor/Brewer
Submarket Type: Central Business District
Tax ID/APN: 042-196
Zoning: DOWNTOWN DEVELOPMENT
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 4
Year Built: 1800
Year Renovated: 2016
Roof Type: Mansard
Construction/Siding: Brick
Parking Type: Structure
Total Parking Spaces: 12
Passenger Elevators: 1
Laundry: Shared
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Heat Pump
Fuel: Electric
Air Conditioning: Engineered System

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,214 39,742 52,502
Median Age: 35.58 38.26 38.85
Households: 6,502 17,610 22,948
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