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Daniel Picard

daniel@rootsinmaine.com +1(207) 571-0839

Listed by Bruce Ludka Maine Realty 2000

$ 9,999,500

Est. payment | -/mo

30 Baths

38,592 SqFt

Save Virtual Tour

$ 9,999,500

Est. payment | -/mo

Save Virtual Tour

30 Baths

38,592 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 38,592 sqft

Price per Sqft $259

MLS Listing ID 1660904

Full Baths 30

HOA Y/N No

Year Built 1985

Tax Year 2025

Lot Size 3.800 Acres

Acres 3.8

Source Maine Listings

Land Area 38592

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

Direction Forest Avenue to #1390 at Meadowbrook Apartments.

Rooms

Other Rooms Shed(s)

Basement Exterior Entry

Interior

Heating Baseboard, Hot Water

Cooling None

Flooring Carpet, Laminate, Other, Luxury Vinyl

Exterior

View Trees/Woods

Roof Type Shingle

Garage No

Building

Lot Description Near Public Transit

Entry Level Multi-Level

Water Public

Architectural Style Colonial

Others

Tax ID PTLD-000294-C000068-000001

Virtual Tour https://www.propertypanorama.com/instaview/mreis/1660904

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+1(207) 571-0839

daniel@rootsinmaine.com

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1390 Forest AVE Portland, ME 04103