Listed by Elevate Maine Realty - Tyler Stewart
$300,000
48 Essex Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,348
Units 5
Cap Rate 7.6%
NOI $22,815
Pro-Forma Cap Rate 11.82%
Pro-Forma NOI $35,457
Price per SqFt $90
Class C
Year Built 1923
Multifamily | 5 Units | $60,000/unit
Marketing description
Fully occupied 5-unit multifamily offering strong in-place income and attractive returns. The property features a diverse unit mix and is currently operating at an approximate 10.5% cap rate, providing solid cash flow from day one. Recent capital improvements include upgraded electrical with full knob-and-tube removal, a heating system installed in 2022, and a flat roof estimated to be 5-10 years old. A well-maintained, turnkey investment with proven performance and strong fundamentals.
Listing Contacts
Listed by Elevate Maine Realty - Tyler Stewart
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$22,815.00
$1,901.25/mo
Valuation Metrics
0
DSCR
7.61%
Cap Rate
7.61%
ROI
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