Photos: Property ID: 241-2
11 units COMMERICALLY ZONED, situated in downtown Waterville's business district. Property has had many renovations, mostly interior, one new furnacea and weatherization and energy upgrades too numerous to list. Great commercial potential. Already commercially zoned, and 2 units were formally offices, and easy to convert back. On-site laundry, new heating system, hardwood floors, large, sunny apartments, walking distance to downtown Waterville's shopping, restaurants and entertainment. Rarely a vacancy here.
241-243 Main St. is located right next to the Railroad square cinema complex, where the Maine International Film Festival is held, and a stone's throw from downtown Main St. Waterville where Colby and other investors are taking steps to revitalize. This building would make a strategic acquisition due to its location. It stands in the "path of progress" in our opinion and we believe It's only a matter of time before the downtown revitalization efforts find their way to this property.
- 2 Buildings (241-1 & 241-2)
- Natural gas conversion just completed
- 241: 5 units: 4BR, two 2BR, two 1BR
- 243: 6 units: 1 2BR, 5 1BR
- AGI: $83,160 / $6,870 MGI /
- NOI ~ $45,000 based on 50% rule
- List of upgrades & repairs
- Owner occupied option: Live in 4BR, all housing expenses paid, earn $3,445 per month before financing
- Financing: MO $3,081 based on 25% down, 20 year, 4.5% interest.
- ASKING PRICE: $649,000 (FOR BOTH 241-1 & 241-2 TOGETHER)
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