Modern finishesNatural gas boilerAll new radiant heatingEfficient layouts
A rare opportunity to own a completely transformed income-producing property just minutes from Bangor's vibrant Waterfront Concerts and Hollywood Casino. Formerly an industrial building, this property has been meticulously converted into an upscale, single-level three-unit apartment complex with virtually every major component replaced or upgraded.
The extensive renovation includes all new radiant heating, natural gas boiler, plumbing, electrical systems, sewer line, roof, siding, windows, kitchens bath and much more, creating a low-maintenance, simple turnkey investment for years to come without headaches. The thoughtfully designed units offer modern finishes, efficient layouts, and strong tenant appeal.
The property consists of:
One 1-bedroom unit renting for $950/month
One 1-bedroom unit renting for $1,100/month
One spacious 2-bedroom, 2-bath unit with in-unit laundry renting for $1,800/month
Additional income potential is generated through the on-site coin-operated laundry facility. Tenants pay their own electricity, helping keep operating expenses low. Natural gas runs at a very low cost, averaging around $1,000 a winter and each unit is equipped with its own heat pump!
Located just a short distance from Bangor's popular waterfront concerts, restaurants, breweries, and entertainment venues, this property presents excellent potential for continued long-term rental income or future short-term rental/Airbnb opportunities (subject to local regulations).
Whether you're an investor seeking strong cash flow, a portfolio addition with significant capital improvements already completed, or someone looking for a unique property with versatile income potential.
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Zillow last checked:
Listing updated:
Listed by:
NextHome Experience
Source: Maine Listings,MLS#: 1667547
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 4
Bathrooms: 4
Full bathrooms: 4
Heating
Heat Pump, Radiant
Cooling
Heat Pump
Appliances
Laundry: Laundry - Coin
Features
1st Floor Bedroom
Flooring: Concrete
Windows: Double Pane Windows
Has fireplace: No
Interior area
Total structure area: 2,400
Total interior livable area: 2,400 sqft
Finished area above ground: 2,400
Finished area below ground: 0
Property
Parking
Parking features: Paved, 5 - 10 Spaces, On Site, Off Street
Features
Stories: 1
Lot
Size: 0.4 Acres
Features: Near Shopping, Near Town, Other, Level, Open Lot
Details
Zoning: RES/COM
Construction
Type & style
Home type: MultiFamily
Architectural style: Contemporary,Ranch
Property subtype: Multi Family
Materials
Steel Frame, Wood Frame, Metal Clad
Foundation: Poured Concrete, Slab
Roof: Flat,Membrane
Condition
Year built: 1930
Utilities & green energy
Electric: Circuit Breakers, Three Phase
Sewer: Public Sewer
Water: Public
Utilities for property: Utilities On
Green energy
Energy efficient items: 90% Efficient Furnace, Double Wall (12''+) Construction, LED Light Fixtures
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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