28 Merchants Plaza

FOR SALE: 105-Unit LIHTC Apartment Portfolio

Freese’s Building and Freese’s Assisted Living are connected properties via party wall sitting on a combined 0.47 acres of land in Downtown Bangor. The Heights property is a garden style complex three minutes from Downtown Bangor sitting on just over 2 acres of land. This offering is a rare opportunity for investors to enter the Bangor multi-family market with sizable scale and immediate potential for rent growth. The portfolio consists of 73 urban mid-rise units and 32 garden style units totaling 105 units, 74 of which have rental subsidy vouchers.. The Freese’s properties are located at 10 Water Street and 28 Merchants Plaza. They are abutting the main bus station servicing the downtown area and a large public parking garage. The buildings consists of several first floor retail units and two (2) separately owned condo units occupied and owned by the Children’s Museum and The Lofts. The Heights is located at 44 Boyd Street and sits just above the Bangor River. This property includes three residential buildings sitting on a cul de sac and one maintenance building that provides a laundry room for the tenants. The property includes 44 parking spaces.