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Bangor,ME 04401
Key Details
Property Type Commercial Sale
Sub Type Multi Family
Listing Status Active
Square Footage 2,300 sqft
Price per Sqft $476
MLS Listing ID 1632547
Lot Size 0.260 Acres
Property Sub-Type Multi Family
Property Description
This 16-unit residential apartment building, located in Bangor, Maine, offers a remarkable investment opportunity in a desirable area. The property is conveniently situated on a bus route and is within walking distance to downtown Bangor, where residents can enjoy shopping, restaurants, and various amenities. Featuring off-street parking, the building has undergone numerous updates, including upgraded wiring, new Brewer vinyl siding, and fresh flooring and paint in all common areas. Additionally, new fire-rated exterior doors were installed, and the front roof was replaced in 2024, ensuring structural integrity and safety.
The property consists of 16 total units, with 8 of them equipped with high-output baseboard heaters. Many units have also been enhanced with updated kitchenettes and appliances, making them appealing to prospective tenants. The building maintains a low vacancy rate and generates strong cash flow, making it a rare find in the market with 16 units contained within a single structure.
Situated in the heart of Penobscot County, Bangor is a vibrant city known for its rich history and cultural significance. The area provides a blend of urban conveniences and natural beauty, featuring a variety of shopping venues, diverse dining options, and ample access to outdoor activities. This strong community atmosphere, along with Bangor's strategic location, positions it as an attractive market for multi-family investments.
Location
State ME
County Penobscot
Zoning multi-family
Interior
Heating Zoned,Hot Water
Flooring Wood,Vinyl,Tile
Exterior
Parking Features 5 - 10 Spaces
View Y/N No
Roof Type Metal
Building
Lot Description Downtown,Bus Line
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding,Wood Frame