Bought with Non MREIS Agency
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Key Details
Sold Price $494,000
Property Type Multi-Family
Listing Status Sold
Square Footage 6,700 sqft
MLS Listing ID 1547124
Sold Date 03/23/23
Style Colonial,Other Style,Single Wide
Full Baths 8
HOA Y/N No
Abv Grd Liv Area 6,700
Originating Board Maine Listings
Year Built 1940
Annual Tax Amount $4,037
Tax Year 2021
Lot Size 8.000 Acres
Acres 8.0
Property Description
8 Unit complex with an 11% cap rate and great CASH FLOW - and this is without the 8th unit rented!! This property consists of a 4 unit building, a single family, a very large barn that could be used for storage and has an efficiency along with 2 mobile homes. A few updates include new metal roofs, a few updated units, all underground pipes were excavated and placed under frost line in 2020 and a new well water pump installed in 2020. This property is ready for another investor to enjoy the cash flow or possibly update it further and potentially add units on the 8 acres. The financials speak for themselves!!
Location
State ME
County Penobscot
Zoning MU
Rooms
Basement Bulkhead, Brick/Mortar, Dirt Floor, Walk-Out Access, Full, Sump Pump, Doghouse, Interior Entry, Unfinished
Interior
Interior Features 1st Floor Bedroom, One-Floor Living, Shower
Heating Multi-Zones, Hot Water
Cooling None
Flooring Wood, Vinyl, Laminate
Basement Type Bulkhead,Brick/Mortar,Dirt Floor,Walk-Out Access,Full,Sump Pump,Doghouse,Interior Entry,Unfinished
Exterior
Parking Features 21+ Spaces, Gravel, Detached
Garage Spaces 4.0
Utilities Available 1
View Y/N Yes
View Trees/Woods
Roof Type Metal,Shingle
Street Surface Paved
Garage Yes
Building
Lot Description Level, Open Lot, Near Town, Rural
Foundation Stone, Slab, Brick/Mortar
Sewer Private Sewer
Water Private, Well
Architectural Style Colonial, Other Style, Single Wide
Structure Type Wood Siding,Vinyl Siding,Mobile,Wood Frame
Others
Energy Description Propane, Gas Bottled
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