For Sale
$525,000

16 Railroad AveSanford, ME 04083

High-yield triplex, excellent curb appeal.

Overview

Added:
Dec 11, 2024
Days on market:
114
This meticulously maintained three-unit apartment building at 16 Railroad Ave, Sanford, ME, 04083 is a prime investment opportunity. The property, built in 1920 and extensively renovated in 2024, offers a compelling combination of classic charm and modern updates. The 2,442 square foot building sits on a spacious 9,147 square foot lot and features attractive cedar shingle siding, a new roof, and recently replaced windows and doors. The inviting farmer's porch, constructed with durable composite decking, provides a welcoming outdoor space. The three units boast a 100% occupancy rate, generating a pro-forma NOI of $56,506 and a potential cap rate of 10.76%. The lower unit is a one-bedroom apartment with a recently updated kitchen and bathroom. Ample parking is available with 10 spaces on site. The property's convenient location across from the Mousam Way trails offers residents easy access to walking and biking paths. The building is a three-story structure, zoned R2, and includes double egresses with newer back stairs. This stabilized investment property presents a rare opportunity to acquire a high-performing asset in a desirable location. The asking price is $525,000.

Highlights

  • Just Listed! Three-unit triplex in Sanford, ME for $525,000.
  • Potential 10.76% cap rate with a $56,506 pro-forma NOI.
  • 16 Railroad Ave, Sanford, ME 04083: 2,442 sq ft building on a 9,147 sq ft lot.
  • Recently renovated (2024) with new roof, windows, doors, and composite decking farmer's porch.
  • 100% occupancy, ample parking (10 spaces), and desirable location across from Mousam Way trails.

Property Details for 16 Railroad Ave

Property type
Apartment buildings
Square Feet
2,442 SF
Class
B
Year Built/Renovated
1920/2024
Buildings
1
Stories
3
Units
3

Location Insight

City
Sanford
County
York
State
Maine
Latitude
43.4631892
Longitude
-70.7848128
16 Railroad Ave, Sanford, Maine

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16 Railroad Ave
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