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About the Listing 1122 - 020224
This premier multi-unit property offers a strategic blend of stable cash flow and significant value-add potential in the heart of Bangor. The upper level features a reliable, long-term tenant with an exemplary history, while the recently renovated lower level, requiring only minor finishing touches, is perfect for immediate owner-occupancy or a premium rental. Investors will benefit from day-one equity growth as current rents are well below market value and already feature approval for Section 8 increases. Beyond the interior's potential for forced appreciation, the property is situated directly on the natural gas line; converting the current oil-fired boiler to natural gas allows a free hookup from Bangor Gas, drastically reducing overhead and maximizing monthly margins. Unrivaled in convenience, this asset is within walking distance of the Waterfront, the Cross Center, and downtown dining, while sitting on a major bus route. Do not miss this chance to secure a high-performance asset in an optimal location.
Listing Highlights
Status
Active
Days on Site
1
Property Type
Multi-Family
MLS ®
1662774
Year Built
1900
Total Square Footage
2,008
Lot/Acreage
0.09
County
Penobscot
Interior Details
- Bedrooms: 0
- Bathrooms: 2 Full
- Appliances:
- Air Cond:
- Heating: Oil,Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2008
- Below Ground Sq Ft: 0
- Basement: Interior,Brick/Mortar,Dirt Floor,Full,Sump Pump,Unfinished
- Other:
- Water: Public
Exterior Details
- Lot Description: Level,Sidewalks,Intown,Near Golf Course,Near Shopping,Near Turnpike/Interstate,Neighborhood,Near Public Transit
- Garage Capacity: N/A
- Zoning: Residential
- Roof: Shingle
- Others:
- Sewer: Public Sewer
- Parking Features: Gravel,Common,5 - 10 Spaces
Financial Details
- Tax Amount: $3,024
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
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Questions About..
16 Walter St Bangor, ME 04401
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