Westbrook 5-Unit Residential Apartment Building

Multi-Family for Sale
Catylist Listing ID: 30769413
Property Subtypes: Low-Rise/Garden
Number of Units: 5 Units
Building Size (RSF): 3,882 SF
Gross Building Area: See Agent
Sale Price: $900,000
Unit Price: $180,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/7/2021

Overview / Comments

Rare find! This Westbrook 5-unit was actually designed and built as 5-unit building opposed to an awkward conversion. Very efficient use of space, the building footprint is extremely manageable with no deferred maintenance to address. Built in 1989 and substantially upgraded during vacancies, each unit is nicely designed and laid out. Easy to rent and great history of long-term tenants. New efficient natural gas wall hung boiler. Brand new paved driveways offering plenty of parking. Basement access with coin-op laundry and individual storage units for each tenant. Abutting and adjacent properties are well maintained. Convenient downtown location walking distance to Valley Square, Mast Landing Brewery, area restaurants and the River Walk overlooking the Presumpscot River. An ideal target for a 1031 exchange.

Attachments & Media

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $7,434 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: 05240_028-000-179
Zoning: RGA1
Property Condition: Good
Number of Stories: 2
Year Built: 1989
Year Renovated: 2003
Construction/Siding: Vinyl Siding
Parking Type: Surface
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,179 28,554 94,441
Median Age: 35.19 39.24 38.93
Households: 2,705 11,917 39,910

Contact

Photograph of Listing Agent

Peter Mason

Po-Go Realty NECPE Member
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