Auburn Value-Add 7 Unit

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30757069
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Mid-Rise, Other
Status: Pending
Number of Units: 7 Units
Building Size (RSF): 3,712 SF
Gross Building Area: See Agent
Gross Land Area: 0.17 Acres
Sale Price: $375,000
Unit Price: $53,571.43 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/7/2021

Overview / Comments

- Seven (7) one (1) bedroom unit multifamily building
- Value add through unit improvements and under market rents
- Ideal owner-user or investment opportunity
- 0.17± AC site
- In close vicinity to Downtown, Washburn School, Auburn Middle School and Edward Little High School
- Recent major capital improvements including roof, boiler, exterior stairs, vinyl replacement windows and more
- Current Gross: $44,640.00 ($531/month/unit)
- Potential Gross: $63,900.00 ($760/month/unit)
- Current NOI (8% reserves): $22,652.84
- Current Cap Rate: 6.04%
- Proforma Cap Rate: 11.18%
- Sale Price: $375,000 ($53,571/unit)


Finance Data Year 2020
Real Estate Taxes - Annual($) $4,400 (Annual)
Potential Rental Income $63,900 (Annual)
Gross Operating Income $44,640 (Annual)
Net Operating Income $22,652 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Lewiston-Auburn
County: Androscoggin
Tax ID/APN: 01010_250-395
Zoning: MFU
Percent Occupied: 100%
Site Description: Adjacent to Chestnut Park, equipped with basket ball courts and a playground
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 3
Year Built: 1920
Roof Type: Arched
Construction/Siding: Wood Frame
Parking Type: Surface
Parking Description: 3-4 off street spots are available
Total Parking Spaces: 4
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,106 46,914 59,530
Median Age: 35.56 37.13 38.35
Households: 5,955 20,030 25,186


Photograph of Listing Agent

Timothy J. Millett

Porta & Company NECPE Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.