Multi unit apartment buildings for sale in Central Maine
UPDATE: Both properties 169 and 17 are now under contract. Only 28 & 60 Pleasant St. are available for sale, but we're rather not close until January 2025 for tax considerations.
***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***
Package deal or will sell individually: $555,000
***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