multi unit properties for sale in Maine

Multi unit apartment buildings for sale in Central Maine

48 Unit "Turn key" house & multi-unit rental portfolio for sale. Package deal or sell separately.

Note: Properties are priced rock bottom based on traditional sale and have very little room to negotiate. If commissions come into play, prices will need to be revised upward.
Owners would like to retire, and sell their pride and joy: A "turn-key" portfolio of 11 well-managed multi-family apartment buildings and single family homes, located in Central Maine right off interstate 95. Our portfolio consists of 8 apartment buildings and 3 single family homes totaling 48 units, all within 2 miles of each other. We have updated these buildings mercilessly; (complete list here.)

This is Central Maine, more specifically Waterville-Winslow. Here you'll find 3 major colleges as well as two thriving hospitals. Culture is alive and well here: Waterville hosts the Maine International Film Festival, and has a thriving downtown / cultural center. The real estate investment climate in Central Maine is much less volatile than most areas. (More area information here).

Our rental properties are located in desirable, safe neighborhoods in Waterville & Winslow. We have a great management and maintenance team in place: heating, plumbing, electrical, maintenance people have worked for us for years and are well integrated. Management team fully in place since 2009. Continue with current management or take over the day to day management yourself. Buildings are well cared for, with above average spending on capital improvements every year.

Although we've had a great time creating our "mini real estate empire," we're ready to move on. We run 3 businesses and we've made a decision to scale back and enjoy our lives a bit more. So feel free to contact us by phone or email. Our preference is to sell all of the properties as a package deal but we will sell single or multiple buildings. Our goal is to find a "good home" for this well-performing portfolio and our stellar residents. Maybe it's time for you to make the leap.

Rental property portfolio summary

  • 11 Buildings totaling 48 units within a 2 mile radius, just off I-95 in Waterville Maine
  • Up To 13% Cap Rate (Avg 10%)
  • LOW vacancy (approx 1/2% 2015, 3% 2014 & 2013)
  • Projected ROIE: 22%*
  • True "turn key" with same management team in place since 2009
  • Package deal or will separate
  • $380,000 gross annual income w/upward potential
  • Constant ongoing improvements
  • PRICE: $2,241,000
    ***See prices for each building here***
maine real estate for sale apartment buildings for sale in central maine
*Projected ROIE & cap rate based on full asking price, 20 year financing, 5% interest, 25% down payment, expenses as projected. See financing tab for information on low or no money down sample arrangement

Contact us for more information or APODs