Bought with F.O. Bailey Real Estate
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Key Details
Sold Price $425,000
Property Type Multi-Family
Listing Status Sold
Square Footage 3,482 sqft
MLS Listing ID 1565224
Sold Date 08/07/23
Style Multi-Level,New Englander
Full Baths 7
HOA Y/N No
Abv Grd Liv Area 3,482
Originating Board Maine Listings
Year Built 1878
Annual Tax Amount $3,415
Tax Year 2022
Lot Size 4,356 Sqft
Acres 0.1
Property Description
7-Unit Multi-Family in Auburn for $395,000. This investment opportunity features seven thoughtfully laid-out apartments (Three 1-beds and four 2-room studios) in a central and convenient location. OPEN HOUSES & showings will be MONDAY 3:30-4:30 PM AND TUESDAY 12:00-1:00 PM. Well maintained, the units are entirely rentable as-is, providing an immediate income stream, or they can be renovated to maximize income further. This is an excellent opportunity for stable rental income and long-term growth in a sought-after location with some of the most exponential price trends in the state. The building's layout consists of three units on the first floor, three units on the second floor, and one additional unit on the third floor, making optimal use of the building's size. Tenants enjoy convenient access through two separate entrances—one at the front for five units and another at the back catering to the last two units. The property benefits from its prime location in Auburn's downtown district, with proximity to a wide range of amenities, shops, trendy restaurants, and easy access to public transportation offers an enticing package for potential tenants. OPEN HOUSES & showings will be MONDAY 3:30-4:30 PM AND TUESDAY 12:00-1:00 PM.
Location
State ME
County Androscoggin
Zoning T-5.1
Direction Building is off of Spring St, back entrance is on Drummond Ct.
Rooms
Basement Bulkhead, Dirt Floor, Exterior Entry, Interior Entry, Unfinished
Interior
Heating Hot Water, Forced Air, Baseboard
Cooling None
Flooring Carpet
Laundry Laundry - 1st Floor, Main Level
Exterior
Garage 5 - 10 Spaces, Paved, Common, On Site
Waterfront No
View Y/N No
Roof Type Shingle
Street Surface Paved
Parking Type 5 - 10 Spaces, Paved, Common, On Site
Garage No
Building
Lot Description Level, Sidewalks, Intown
Story 3
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Multi-Level, New Englander
Structure Type Wood Siding,Shingle Siding,Wood Frame
Others
Restrictions Unknown
Energy Description Oil
Financing Cash
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Paul Rondeau
Broker Associate | License ID: BA923327
Broker Associate License ID: BA923327