multi unit properties for sale in Maine

Our multi-family portfolio: Upgrades


Upgrades & Repairs: 2009-2014



Please note that these repairs listed are only a summary, and there are many more I have not listed. We are constantly repairing and upgrading properties, and it's hard to keep up.

It should be noted that all buildings have been through some sort of energy audit with follow-up weatherization and heating system retro fitting. We have reduced annual oil usage on two of our 7 unit buildings from 4,500 gals to 2,300 gals. We've decreased usage on our 11 unit from 5,500 gals to 3,300 gals. Additionally, this 11 unit will be converted to natural gas this year resulting in a further reduction of at least 30%. We've upgraded most boilers to Pensotti™ & Trio™ direct vent boilers or similar, which offer easy natural gas conversion.

Flooring is being replaced, unit-by-unit, with Engage Essentials™ luxury plank vinyl with 11 mil wear layer (vs. 4 mil that Home Depot Allure has). All painting is two tone, with either a light beige or bluish slate for wall color, and semi gloss white for trim. (No antique white on our watch!)

If reviewing actual financial reports or schedule E's, please consider that every available dollar of profit has been reinvested in these buildings. Our repairs + capital expenses have been in the 30%-50% range vs. 8%-15%, but we've done this deliberately, with the intention of retiring with largely trouble free buildings. In other words, the schedule E's will show a larger than normal amount of repairs expense, and it might make the buildings look "unprofitable" if not viewed in the proper context that these buildings are being brought up to very high standards. We are nearly 90% done with our desired upgrades. In fact you will see that reflected in 2014's tax returns vs. 2013.

Property #29 (SFH)
  • New front door 2011
  • New carpet LR 2011
  • New paint throughout 2011
  • New shingles 2007
  • New furnace 2007
  • New windows upstairs 2007
  • Exterior paint (most of house) 2011
  • Landscaping
Property #7 (SFH)
  • New paint throughout
  • Plumbing upgrades
  • Wood floors professionally sanded and refinished
  • New windows and doors 2007
  • New furnace 2007
  • New chimney and liner 2012
  • Efficiency Maine air sealing program 2013
Property #9 (SFH)
  • New siding 2010
  • Painted and repaired metal roof 2010
  • Shingled garage roof 2010
  • Reinforced and repaired basement and foundation 2013
  • Efficiency Maine air sealing program 2013
  • CFLs installed
Property #26 (2 Unit)
  • Both chimneys torn down to roof and rebuilt 2016
  • Chimney liners 2012
  • New furnace unit 1 2011
  • New furnace unit 2 2013
  • 2 new elec. Water heaters 2011
  • Weatherization 2011 (sealing, caulking, insulating top of basement)
  • Efficiency Maine air sealing program 2013
  • New paint throughout unit 1 2011
  • Mostly new roof 2010
  • Landscaping
  • Heating pipes insulated 2013
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
  • Although residents pay own heat at this building, we did reduce oil consumption from 950 gallons to 600 gallons in unit 1, and had a similar reduction in unit 2.
  • VINYL REPLACEMENT WINDOWS THROUGHOUT IN PROGRESS 2016 and to be finished spring 2017
Property #2 (2 Unit)
  • Complete weatherization 2010 (caulk, seal, etc.)
  • Weatherization of attic (9" cellulose) 2010
  • Foam insulated basement 2010
  • New furnace and hot water heater 2010
  • New paint and flooring throughout 2010
  • Some electrical and plumbing upgrades 2010
  • Chimney and foundation pointing 2012
  • New Engage Essentials™ luxury vinyl plank flooring and paint throughout unit #2 2013
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
Property #28P (4 Unit)
  • Electric upgrade 2010 (fuses to 200 amp entrance)
  • New shingles garage 2010
  • New paint and flooring throughout units 2F and 2R
  • Electrical and plumbing upgrades 2010
  • New hot water heater 2010
  • Foam insulated basement 2010
  • Landscaping
  • New ceiling fan # 2F 2011
  • All new vinyl windows throughout 2013-2015
  • CFLs installed
Property #60 (4 Unit)
  • Foam insulated basement 2010
  • Sealed and insulated attic to R60 January 2016
  • Exterior paint 2010
  • Unit 2: all new paint, upgrades and flooring throughout 2014
  • Unit 1: all new paint, upgrades and flooring throughout 2016
  • Weatherization 2011 (sealing, caulking, etc.)
  • Landscaping
  • Efficiency Maine air sealing program 2013
  • Heating pipes insulated 2013
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
  • New Engage Essentials™ flooring in BR unit 3.
Property #169 (7 Unit)
  • Foam insulated basement 2010
  • Many new windows (changed worst ones, repaired or immobilized remaining)
  • Weatherization of doors and existing windows
  • Weatherization of attic (9" cellulose)
  • Landscaping
  • Exterior painting, inc. sealing and caulking: one side of building per year beginning 2011
  • Extra weatherization of attic done to cure ice jams near laundry room
  • New tub surround, bath exhaust and paint #5 2011
  • New paint 2010 & 2015 #6
  • Remove carpets and restore original hardwood in #6 2015
  • 50% shingles replaced 2009
  • 25% shingles replaced 2013, remaining scheduled for 2015
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
  • Oil consumption reduced from 4,500 gallons to 2,300 gallons.
Property #28H (8 Unit)
  • New roof, vinyl siding and windows 2005
  • New 80 gallon water heater 2016
  • New paint and upgrades throughout units #4 and #6 2011
  • New laundry room 2011
  • Various exterior painting and improvements
  • New doors on 1,3,4,5,6,8
  • Foam insulate laundry room and basement 2011
  • Clean out basement
  • Remove and replace visible knob and tube in basement 2011
  • New vinyl windows and trim wrapped 2012
  • New circulator pumps 2013
  • Complete luxury plank vinyl flooring and painting, new appliances unit 8 2013.
  • New flooring, paint, kitchen and electrical upgrades in units 1 & 3 & 4 2013
  • New flooring, paint, kitchen and electrical upgrades in units 7 2012
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
  • #5 - 2013 & 2014. New luxury plank flooring 2 rooms, new bath sink, new toilet, 2 new windows, new closet doors, complete painting (2 coats), kitchen cabinet repairs
Property #241 BLDG 1 (6 Units out of 11)
  • New lighting several units
  • Converted to natural gas June 2015
  • Foam insulated basement 2010
  • New direct vent furnace 2010
  • Tons of weatherization top to bottom 2010-2011 (Efficiency Maine HESP program)
  • Entrances and foyers painted 2011
  • New paint and flooring in 3 units 2010
  • New front deck 2010
  • Roof repaired 2010 100%
  • All trim exterior painted 2011
  • Many areas of trim replaced 2011
  • New doors 3 & 6
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
  • #1: 2013. New flooring and ceilings installed, kitchen, bath, laundry and entry areas.
  • #6: various. Unit upgraded to "high end" with wine racks, new flooring, book cases, new bath, full paint, new windows, etc.
  • New vinyl replacement windows throughout
Property #241 BLDG 2(5 Units out of 11)
  • New lighting several units
  • Converted to natural gas June 2015
  • Foam insulated basement 2010
  • Some vinyl windows 2010-2011
  • Tons of weatherization top to bottom 2010-2011
  • Laundry room created 2010
  • Units 6,4,2 repainted, new flooring 2010
  • New paint various exterior 2011 (all trim, some siding)
  • New weatherized entrance 2010
  • Weatherization of attic (9" cellulose)
  • Landscaping 2011
  • New doors, 5 & 6 2011
  • New entry door (sealed entry mail area from building envelope) 2011
  • New bath or kitchen exhaust 5 and 6 in 2011
  • Unit #3 completely redone (flooring, new door, toilet, paint, plumbing, electric)
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
  • Oil consumption reduced from 5,500 gallons to 3,300 gallons. (includes both buildings)
Property #17 (7 Unit)
  • First building to complete Efficiency Maine's Multi unit efficiency program
  • New furnace and boiler mate (72 gallon)
  • Cellulose insulation in attic
  • New front and rear door. New doors in 3-4 apartments.
  • New limit thermostats, low-flow shower heads & CFL light bulbs (most or all units)
  • 2015: New 60 minute fire rated doors on all 3rd floor apartments, emergency lighting and lighted exit signs.
  • Siding and wrapping in needed areas 2015-2016
  • New shingles 2016
  • Unit 1 - 2014: New luxury plank vinyl throughout, new toilet, refrigerator, electric, plumbing, new windows throughout, new paint every surface. New backsplashes, many other minor repairs
  • Unit 2 - 2013: New paint throughout, new tub surround and hardware, new paint throughout, new windows throughout, new door, screen door added, new kitchen cabinets, bathroom vanity.
  • Unit 3- 2013: New flooring and paint throughout. New front door, new toilet, some electrical and plumbing upgrades, other minor cosmetic repairs
  • Unit 4 - 2013: New paint throughout, new plumbing hardware, new paint throughout, new windows throughout, new door, electrical upgrades.
  • Unit - 5: 2013 New paint throughout, new plumbing hardware, new paint throughout, new windows throughout, new door, electrical upgrades.
  • Unit - 6: 2013 New paint throughout, new plumbing hardware, new paint throughout, new windows throughout, new door, electrical upgrades.
  • Unit 7: Nothing: unit has been inhabited and maintained beautifully by resident for 21 years. It looks like a vintage 1956 home.
  • Oil consumption reduced from 4,500 gallons to 2,400 gallons.
Deferred Maintenance & Planned Upgrades (In general)
This is a difficult category. There's always SOMETHING more we can do to make the buildings more desirable, but I will define "deferred maintenance" as something that should be done as soon as possible because it's either broken, looks horrible, or will quickly get worse or lead to something else breaking or being worse if we don't fix it soon. I also list upgrades we are planning in later years.
  • 169: 25% of roof needs replacement. Some exterior painting, 2 apartments to be updated if multi year tenants (10+ years) move out.
  • 17: 80% roof replacement, few windows left to replace (7-8), some siding repair, sand and paint common area. (3 story victorian staircase)
  • 28: New heating system. Currently original steam boiler. Works impeccably and has been maintained annually by same company since mid forties, but it deserves retirement!
  • 28H: 2 apartments left to be updated, and other desired upgrades here and there (We would want to replace some older flourescent lighting with updated models, a few stoves and fridges are nearing retirement, and eventually we may need to install a fire escape for the 3rd floor.
  • 241-243: Would like to paint 241 exterior a new color. Minor exterior cosmetics, some jacking and leveling on 243 building (estimates obtained)
  • 26: Would like to waterproof basement, do more weather sealing, finish roofing (20%)
  • 9: This house needs complete refurbishing but current tenant wants to buy as is for $37,000 so we are "deliberately deferring" all maintenance.
  • 60: would like to put vinyl siding but not necessary. Would also like to insulate attic. 2 apartments to be updated if multi year tenants (8+ years) move out.