multi unit properties for sale in Maine

Multi unit apartment buildings for sale in Central Maine

UPDATE: All properties have been sold except 28 & 60 Pleasant St., which are available for sale in 2025. Please note: We all like to negotiate. It's part of the joy of being an investor, but unfortunately the prices on these properties are firm. We simply cannot accept any less than full asking price due to the tax implications, and extensive upgrades that we've done and continue to do. What we can promise is that we can look ourselves (and the buyer) square in the eye and know deep down that both sides are getting a good deal with these prices and terms.
Purchase Price: $555,000

(Cash or bank financing)
  • 2 Multi-family buildings with a total of 8 units walking distance apart, just off I-95 in Waterville Maine
  • Average 7% Cap rate
  • Less than avg. 1% vacancy (2013-2021)
  • Projected ROIE: 22%***
  • True "turn key" with management in place, or manage yourself.
  • $84,000~ gross annual income (AGI) w/room for increases
  • Managed & updated by owner
  • Positioned as "best-in-class" for recession resistance & solid performance through all phases of the economic cycle
maine real estate for sale apartment buildings for sale in central maine
***Projected 31% ROIE & cap rate are based on purchasing at listed price, using 20 year financing, 4% interest rate, 20% down payment, and expenses as projected in our excel analyzer here. This spreadsheet details all expenses and income, and provides cash-on-cash returns and return on equity with variables such as self-management vs. hiring a property management company, fully mortgaged vs. mortgage-free etc.

Multi family portfolio summary

We started in 2009, building a portfolio of 51 units (13 buildings) and what remains are the last two buildings totaling 8 units. These are our best performing properties, and managing them is fairly easy, but we are ready to retire, and sell this "turn-key" portfolio of well-managed multi-family apartment buildings located in Waterville Maine right off interstate I-95. Buildings are well cared for, with ongoing investments in capital improvements, minimizing deferred maintenance concerns upon purchase. See our list of improvements, both completed and pending here.
These investment properties are located in Waterville & Winslow Maine. Here you'll find 3 good colleges, with another less than a half hour away (Colby, Thomas, KVCC, U.M.A.) as well as two major hospitals. Waterville Maine hosts the Maine International Film Festival, and has a thriving downtown. (Read more about the Waterville area here) including Colby's downtown revitilization efforts.

These rental properties are located in desirable, safe neighborhoods in Waterville & Winslow. We have a well-established, capable maintenance team in place: heating, plumbing, electrical, and maintenance people have worked for us for years and are well integrated. As an investor, you have a choice of using our maintenance team or saving money and taking care of it yourself. We also have two proven property managers here in Waterville that are ready to take over for you.
Contact us for more information