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Listed by Tyler Stewart Elevate Maine Realty
$ 400,000
Est. payment /mo
Active
323 Cumberland ST Rumford, ME 04276
8 Baths
6,300 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,300 sqft
Price per Sqft $63
MLS Listing ID 1652952
Full Baths 8
HOA Y/N No
Year Built 1920
Tax Year 2025
Lot Size 6,098 Sqft
Acres 0.14
Source Maine Listings
Land Area 6300
Property Description
8-unit multifamily investment delivering strong in-place income and substantial value-add potential. Currently operating at a 10.6% cap rate, the property includes 2 vacant units, offering immediate opportunity to renovate and lease at market rents with a projected 16%+ stabilized cap. The asset features a versatile unit mix of (1) 4-bedroom, (3) 3-bedroom, and (4) 1-bedroom units, appealing to a broad tenant base. Separate electric and a solid structure support efficient operations and long-term durability. Several long-term tenants provide consistent cash flow while improvements are executed. Well located just minutes from downtown and major employers, this is a compelling high-yield opportunity with clear upside through unit upgrades and rent optimization.
Location
State ME
County Oxford
Zoning Unk
Direction GPS Friendly
Rooms
Basement Interior, Full, Unfinished
Interior
Heating Hot Water, Baseboard
Cooling Window Unit(s)
Flooring Vinyl, Tile
Exterior
Parking Features 1 - 4 Spaces, Common
Garage Spaces 1.0
Roof Type Flat
Garage Yes
Building
Lot Description Level, Sidewalks, Intown
Entry Level Multi-Level
Water Public
Architectural Style Other
Others
Tax ID RUMF-000113-000000-000254
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