Listed by F.O. Bailey Real Estate
$1,275,000
Trophy Multi Family For Sale
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 26,572
Units 38
Cap Rate 9.25%
NOI $118,000
Occupancy 90%
Price per SqFt $48
Class C
Year Built 1906
Buildings 1
Stories 4
Acreage 0.150
Zoning Commercial
Investment Type Value Add
Multifamily | 38 Units | $33,553/unit
Marketing description
Excellent opportunity to purchase this brick Rumford Maine trophy property known as the “Hotel Harris”. Built in 1906 this 26,572 +/- SF mixed use building offers (2) commercial retail units (restaurant + beauty salon) & 36 apartments (22) 1 bedrooms + (14) studios offering upside through raising rents! This western ME gem is home to Black Mountain - 30 minutes to Sunday River - 55 Min to saddleback and hour and half to Portland. Please don’t miss the opportunity to own a historic property in one of the last areas in Maine that still offers lots of upside!
Listing Contacts
Listed by F.O. Bailey Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$118,000.00
$9,833.33/mo
Valuation Metrics
0
DSCR
9.25%
Cap Rate
9.25%
ROI
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