Listed by Elevate Maine Realty - Tyler Stewart
$1,000,000
93-99 & 98 Maine Avenue Rumford, ME 04276
Details
APN RUMF-000117-000000-000159
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,448
Units 18
Cap Rate 9.65%
NOI $96,465
Pro-Forma Cap Rate 15.6%
Pro-Forma NOI $155,998
Buildings 2
Acreage 0.560
Zoning Residential
Multifamily | 18 Units
Marketing description
Rare investment package offering 18 total units across two properties located directly across the street from one another in Rumford. The portfolio includes a 12-unit at 93-99 Maine Avenue and a 6-unit at 98 Maine Avenue, with a desirable mix of 6 one-bedrooms, 6 two-bedrooms, and 6 three-bedrooms. With just two vacancies, the properties are currently producing a 9.65% cap rate, with projected upside exceeding 14% through rent increases and value-add improvements. A turnkey opportunity with immediate cash flow and exceptional long-term growth potential.
Listing Contacts
Listed by Elevate Maine Realty - Tyler Stewart
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$96,465.00
$8,038.75/mo
Valuation Metrics
0
DSCR
9.65%
Cap Rate
9.65%
ROI
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