1055 Middle RdWarren, ME 04864

Property Details for 1055 Middle Rd

Year built

1972

Lot size

20.00 AC

Property size (Sq ft)

1,672 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Warren

County

Knox

State

Maine

Latitude

44.1625

Longitude

-69.2707

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