For Sale
$750,000

1055 Middle RdWarren, ME 04864

Six-Unit Apartment Complex, 20 Acres

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a six-unit multifamily property situated on a spacious 20-acre lot in Warren, Maine. The property comprises two buildings: a three-bedroom, two-bathroom main house (potentially owner-occupied) and an adjacent building with a mix of one- and two-bedroom units. Recent updates include new carpeting, windows, electrical and plumbing systems. The main house roof was replaced in 2018, and the back roof was newly installed in 2023. Each unit features its own meter and Rinnai heater, simplifying management and utility billing as tenants pay their own utilities. The property boasts a strong rental history, currently operating at 100% occupancy with a proactive re-renting strategy. A large garage offers ample storage or workshop space. The expansive acreage allows for potential expansion with additional rental units or the construction of a new residence. The property's zoning permits multi-family use. The asking price is $750,000, representing $125,000 per unit and $448.56 per square foot for the 1,672 square foot building. This property is easily shown with advance notice to tenants. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property with significant upside potential in a desirable Maine location.

Highlights

  • $750,000 asking price for a six-unit multifamily property.
  • Six units, totaling 1,672 square feet, with a price per square foot of $448.56.
  • 100% occupancy rate.
  • Two buildings on a 20-acre lot, built in 1972, with two stories.
  • Multi-family zoning.
  • Each unit has its own meter and Rinnai heater; tenants pay their own utilities.

Property Details for 1055 Middle Rd

Property type
Apartment buildings
Square Feet
1,672 SF
Year Built
1972
Buildings
2
Stories
2
Lot Size (sq. ft)
871,200 SF
Units
6

Location Insight

City
Warren
County
Knox
State
Maine
Latitude
44.1625357
Longitude
-69.2706898
1055 Middle Rd, Warren, Maine

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1055 Middle Rd
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