16 Walter Street

Bangor ME 04401

2008 sq. ft.

3920.4 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

This premier multi-unit property offers a strategic blend of stable cash flow and significant value-add potential in the heart of Bangor. The upper level features a reliable, long-term tenant with an exemplary history, while the recently renovated lower level, requiring only minor finishing touches, is perfect for immediate owner-occupancy or a premium rental. Investors will benefit from day-one equity growth as current rents are well below market value and already feature approval for Section 8 increases. Beyond the interior's potential for forced appreciation, the property is situated directly on the natural gas line; converting the current oil-fired boiler to natural gas allows a free hookup from Bangor Gas, drastically reducing overhead and maximizing monthly margins. Unrivaled in convenience, this asset is within walking distance of the Waterfront, the Cross Center, and downtown dining, while sitting on a major bus route. Do not miss this chance to secure a high-performance asset in an optimal location.

Features

2 bathrooms

2008 sq. ft. floor area

3920.4 sq. ft. lot size

Multi-Family

Property history for 16 Walter Street

2021

Sold

$115,000

09 Jul 2021 by Michael Townsend, of The Maine Real Estate Network

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