Portland 10 Unit

Multi-Family for Sale
Catylist Listing ID: 30807318
Property Subtypes: Mid-Rise
Number of Units: 10 Units
Building Size (RSF): 9,980 SF
Gross Building Area: See Agent
Gross Land Area: 10,646 SF
Sale Price: $1,895,000
Unit Price: $189,500 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/17/2022

Overview / Comments

Solid, clean, well maintained & well managed 10 unit apartment building in the heart of Portland conveniently located near Thompson's Point, Maine Medical Center, Mercy Hospital, Hadlock Field, downtown, the West End and just off 295. 5 One BR units and 5 Two BR units as well as a full walk out basement, detached four car garage and plenty of on and off street parking has made this an enjoyable property for this owner to own for over 20 years. Lovely features in the apartments such as hardwood floors, nice varnished original moldings and trim, built-ins, lots of large newer windows - all help to make the units desirable and nice to live in - very easy to rent. This owner has only had vacancies when refreshing or updating the units during their natural transitions. A couple tenants have enjoyed the building for over 20 years. 2 updated Viessman Boilers with natural gas burners for heat and hot water, rubber membrane roofs were inspected and updated in 2012, new reclaim asphalt driveway surface in May 2022, coin op laundry in clean, well lit basement also help to make this a great place to live. City living yet mature trees and the quiet dead end street allows for quality of life while making this a very unique turn key investment opportunity. Fully rented and ready for the next owner.

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: 05170_067 H012
Zoning: R6
Percent Occupied: 100%
Property Condition: Average
Number of Stories: 3
Year Built: 1910
Roof Type: Flat
Construction/Siding: Vinyl Siding
Parking Type: Structure, Surface
Parking Description: 4-Car garage plus surface parking.
Total Parking Spaces: 10
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas, Hot Water
Heat Source: Baseboard
Fuel: Gas
Lot Frontage: 168
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,482 85,968 121,704
Median Age: 34.67 37.65 39.1
Households: 9,481 39,485 54,645

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