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About the Listing 2742 - 008245
This 16-unit residential apartment building, located in Bangor, Maine, offers a remarkable investment opportunity in a desirable area. Low expenses with a net operating income of $142,000 +/- annually. 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, newer vinyl siding, 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. Seller has added 2 washers and 2 dryers that tenants can use onsite . Plus new foundation walls*. 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.
Listing Highlights
Status
Active
Days on Site
16
Property Type
Multi-Family
MLS ®
1660566
Year Built
1880
Total Square Footage
2,600
Lot/Acreage
0.26
County
Penobscot
Interior Details
- Bedrooms: 0
- Bathrooms: 16 Full
- Appliances:
- Air Cond:
- Heating: Hot Water
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2600
- Below Ground Sq Ft: 0
- Basement: Full,Exterior Only
- Other:
- Water: Public
Exterior Details
- Lot Description: Open,Level,Intown
- Garage Capacity: N/A
- Zoning: multi family
- Roof: Metal
- Others:
- Sewer: Public Sewer
- Parking Features: 5 - 10 Spaces,Gravel,Off Street,On Street
Financial Details
- Tax Amount: $5,687
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
74-76 Court St Bangor, ME 04401
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