1390 Forest AVE, Portland, ME 04103
1390 Forest AVE, Portland, ME 04103
1390 Forest AVE, Portland, ME 04103
1390 Forest AVE, Portland, ME 04103
1390 Forest AVE, Portland, ME 04103
1390 Forest AVE, Portland, ME 04103
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Daniel Picard

Daniel Picard

+1(207) 571-0839
Listed by Bruce Ludka Maine Realty 2000
$ 9,999,500
Est. payment | /mo

39,592 SqFt

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$ 9,999,500
Est. payment | /mo
Save Virtual Tour

39,592 SqFt

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 39,592 sqft

Price per Sqft $252

MLS Listing ID 1660908

HOA Y/N No

Year Built 1985

Tax Year 2025

Lot Size 3.800 Acres

Acres 3.8

Property Sub-Type Investment

Source Maine Listings

Land Area 39592

Property Description

''MAJOR INVESTMENT OPPORTUNITY'' This is a rare opportunity to own this well maintained 44 unit apartment complex featuring 5 separate buildings on a beautiful 3.8 Acre lot that is extremely convenient to everything including public transportation. The 5 buildings consist of 3 three story 12 unit buildings and 2 two story 4 unit buildings, all units are 2 bedroom, 3 different styles with some including a laundry, heat & hot water included with natural gas, an additional extensive shop area / storage / office spaces with a half bath below unit #5, large shed, ample parking with guest spaces, nice lawn area, lots of updates & improvements including windows, excellent rental history, currently fully occupied with mostly long term tenants & great payment history. THIS IS A VERY SOLID ALL AROUND MULTIUNIT RENTAL PROPERTY WITH GREAT OVERALL NUMBERS, MOSTLY LONG TERM TENANTS, LOW TURNOVER, RARE VACANCIES, THE POTENTIAL FOR INCREASED RENTS, SUBSTANTIALLY MORE VERSATILITY & SIGNIFICANTLY HIGHER FINANCIAL YEILDS IN THE FUTURE WHEN THE CURRENT AFFORDABLE HOUSING USE, WITH 100% PROPERTY TAX EXEMPTION, MAY BE DISCONTINUED AND ALLOW FOR MULTIPLE OTHER OPTIONS....CALL BRUCE LUDKA FOR MORE INFORMATION.

Location

State ME

County Cumberland

Zoning 54

Rooms

Other Rooms Shed(s)

Basement Other

Interior

Heating Gas Natural, Baseboard, Hot Water

Cooling None

Flooring Carpet, Laminate, Luxury Vinyl, Other

Exterior

Parking Features 21+ Spaces, On Site, Paved

Roof Type Shingle

Building

Lot Description Near Shopping

Entry Level Multi-Level

Water Public

Others

Tax ID PTLD-000294-C000068-000001

Virtual Tour https://www.propertypanorama.com/instaview/mreis/1660908

Maine MLS (MREIS) IDX

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Daniel Picard

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+1(207) 571-0839

daniel@rootsinmaine.com

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1390 Forest AVE