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About the Listing 1198 - 024624
**71 First St, Bangor, ME** Solid 5 unit investment property with the big ticket items already taken care of. The current owner has made major capital improvements, including a new roof, new siding, new windows, and an updated natural gas furnace. These are some of the most expensive items investors typically face with older multifamily properties, giving the next owner a strong foundation from day one. The building offers a desirable unit mix with two 2 bedroom apartments and three 1 bedroom apartments. All units are currently on month to month leases, creating flexibility for a new owner to improve operations, adjust rents, and increase overall income potential. While the exterior and major systems have already been addressed, the interiors still offer room for value add improvements. Cosmetic updates to the units could help support higher rents, attract stronger tenants, and create forced appreciation over time. This is a property where the next investor can focus on increasing income instead of immediately replacing major building components. Located in Bangor with convenient access to downtown, hospitals, shopping, restaurants, and major employers, 71 First Street offers both current rental income and future upside. A strong option for an investor looking for a multifamily asset with completed capital improvements, flexible leases, and a clear path to improved cash flow.
Listing Highlights
Status
Active
Days on Site
29
Property Type
Multi-Family
MLS ®
1668153
Year Built
1900
Total Square Footage
2,776
Lot/Acreage
0.11
County
Penobscot
Interior Details
- Bedrooms: 0
- Bathrooms: 5 Full
- Appliances: ENERGY STAR Qualified Appliances, Cable
- Air Cond: Window Unit(s)
- Heating: Gas Natural,Baseboard
- Fireplaces: 2
- Floor: Laminate,Vinyl,Hardwood,Plank
- Above Ground Sq Ft: 2776
- Below Ground Sq Ft: 0
- Basement: Interior Entry,Dirt Floor
- Other:
- Water: Public
Exterior Details
- Lot Description: Business District,Intown,Near Golf Course,Near Shopping,Near Town,Level
- Garage Capacity: N/A
- Zoning: 14 Urban Res Dist 2
- Roof: Shingle
- Others:
- Sewer: Public Sewer
- Parking Features: On Site,Off Street
Financial Details
- Tax Amount: $3,111
- Taxes w/Assessments: N/A
- Tax/Property ID: BANG-000035-000000-000155
- Tax Year: 2024
Payment Calculator
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Questions About..
71 1st St Bangor, ME 04401
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