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Listed by Jody Hammond EXP Realty

$1,600,000

Est. payment - /mo

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16 Baths

2,600 SqFt

Active

74-76 Court ST Bangor, ME 04401

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Emma Peterson

emma@mainehomeswithemma.com +1(207) 538-0950

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,600 sqft

Price per Sqft $615

MLS Listing ID 1660566

Full Baths 16

HOA Y/N No

Year Built 1880

Tax Year 2025

Lot Size 0.260 Acres

Acres 0.26

Source Maine Listings

Land Area 2600

Property Description

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.

Location

State ME

County Penobscot

Zoning multi family

Direction 74-76 Court Street Bangor

Rooms

Basement Exterior Entry, Full

Interior

Heating Gas Natural, Hot Water

Cooling None

Flooring Tile, Vinyl

Laundry Washer Hookup

Exterior

Parking Features Gravel, 5 - 10 Spaces, Off Street, On Street

Waterfront Description Nearby,River/Brook/Stream

Roof Type Metal

Garage No

Building

Lot Description Intown, Level, Open Lot

Foundation Poured Concrete

Water Public

Architectural Style Colonial

Others

Tax ID 7476courtstreetbangor04401

Virtual Tour https://www.propertypanorama.com/instaview/mreis/1660566

Nearby Locations

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Phone

+1(207) 538-0950

emma@mainehomeswithemma.com

Address

63 Federal St, Suite #3, Portland