21 Cobb RdBath, ME 04530

Property Details for 21 Cobb Rd

Year built

1820

Lot size

0.40 AC

Property size (Sq ft)

5,654 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a well-maintained, five-unit apartment building located at 21 Cobb Road in Bath, Maine. The property, situated on a 0.4-acre lot, boasts ample parking. Built in 1820 and extensively renovated in 2019, this Class B multifamily building offers 5,654 square feet of living space, with each unit averaging a spacious layout. The asking price is $895,000, translating to $179,000 per unit and a compelling price per square foot of $158.30. The property enjoys a strong net operating income (NOI) of $83,584, resulting in an attractive 9.34% capitalization rate. All units feature in-unit laundry, with three sets owned by the seller. Utilities are separately metered for water and electricity, simplifying management and cost allocation. The building is equipped with a newer Buderus hot water boiler, ensuring efficient and reliable heating. Its convenient location offers close proximity to downtown Bath, Bath Iron Works, and a 40-minute commute to Portland. The property is zoned R-1 and features a two-story building. The property's APN is 25/13. This is a rare opportunity to acquire a well-performing multifamily asset in a desirable Maine location. The current ownership is Bilokonsky Midcoast Properties, LLC.

Location Insight

City

Bath

County

Sagadahoc

State

Maine

Latitude

43.914

Longitude

-69.824

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