Listed by The Boulos Company Portland
$10,650,000
Hollis Apartment Portfolio
Details
APN See Exhibit A
Property Type Multifamily
Sub Type Apartment Portfolio
Square Footage 48,516
Units 63
Cap Rate 7.63%
Price per SqFt $220
Year Built 1983
Buildings 12
Stories 2
Acreage 164.950
Zoning RR3
Ownership Hollis Properties, LLC & Hollis Countryside Properties, LLC
63-Unit Multifamily Portfolio | 7.63% Cap Rate | Southern Maine Value-Add Opportunity
Marketing description
The portfolio comprises (2) one-bedroom, (60) two bedroom, and (1) three-bedroom townhouse-style units, featuring a well-balanced mix of layouts designed to meet a broad range of renter needs in Southern Maine.
Highly uniform townhouse design reduces operational complexity (standardized finishes, mechanicals, and unit layouts). *Current management willing to stay on
Attractive basis in a supply-constrained York County rental market with solid household incomes and limited competing rental stock
85% to 90% of the units have been rehabbed with new kitchens, flooring, paint, carpeting, etc., while all the properties feature newer metal roofs (2022) and pavement among other CapEx items.
Listing Contacts
Listed by The Boulos Company Portland
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