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1390 Forest Avenue

Portland ME 04103

30
38592 sq. ft.
165528 sq. ft.
Multi-Family
Currently for sale - view listing

Overview

''MAJOR INVESTMENT OPPORTUNITY'' This is a rare opportunity to own this well maintained 44 unit apartment complex featuring 5 separate buildings on a beautiful 3.8 Acre lot that is extremely convenient to everything including public transportation. The 5 buildings consist of 3 three story 12 unit buildings and 2 two story 4 unit buildings, all units are 2 bedroom, 3 different styles with some including a laundry, heat & hot water included with natural gas, an additional extensive shop area / storage / office spaces with a half bath below unit #5, large shed, ample parking with guest spaces, nice lawn area, lots of updates & improvements including windows, excellent rental history, currently fully occupied with mostly long term tenants & great payment history. THIS IS A VERY SOLID ALL AROUND MULTIUNIT RENTAL PROPERTY WITH GREAT OVERALL NUMBERS, MOSTLY LONG TERM TENANTS, LOW TURNOVER, RARE VACANCIES, THE POTENTIAL FOR INCREASED RENTS, SUBSTANTIALLY MORE VERSATILITY & SIGNIFICANTLY HIGHER FINANCIAL YEILDS IN THE FUTURE WHEN THE CURRENT AFFORDABLE HOUSING USE, WITH 100% PROPERTY TAX EXEMPTION, MAY BE DISCONTINUED AND ALLOW FOR MULTIPLE OTHER OPTIONS....CALL BRUCE LUDKA FOR MORE INFORMATION.

Features

30 bathrooms
38592 sq. ft. floor area
165528 sq. ft. lot size
Multi-Family

Happy sellers in Portland

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We have insufficient information to provide an overview of customer satisfaction for Portland. Viewing the agent profiles, reviews and sales for Portland can provide insights for this location.

Local market activity for multi families in Portland

In the last 12 months, 33 multi families similar to 1390 Forest Avenue, have been sold.

This represents a 14% increase in multi families sales when compared to the previous 12 months.

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Sales:
(619) 566-0008
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