Price Reduced Listing
176 Court Street , Bangor, ME 04401
Bangor, ME 04401
Description
Discover the potential of 176 Court Street, Bangor, ME 04401, a meticulously maintained 3-4 unit residential property situated in the heart of Bangor. Ideal for investors seeking stable income, this property features a mix of units ranging from 1-bedroom to 2-bedrooms, all leased to reliable tenants, including one who has resided for over 15 years. This investment stands out with its substantial Net Operating Income due to remarkably low operating expenses, ensuring profitable margins. Each unit offers comfortable living spaces with modern amenities and consistent updates to meet tenant needs, making it a turnkey operation for the new owner. Located in a prime area close to shops, schools, and public transportation, the building enjoys steady demand. Financially, the property generates $58,800 annually with an attractive 8% cap rate. This is a compelling opportunity for those looking to expand their portfolio or enter the market with a dependable, income-producing asset.
Details
| MLS# | 1606822 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 95 |
| Listing Provided By | EXP Realty | Jason Edwards |
Features
| Bath(s) | 4 Total |
|---|---|
| SQ Feet | 2,266 |
| Basement | Y |
| Story(s) | 2 |
| Units | 4 |
| Zoning | URD2 |
| Acreage | 0.14 |
Market Activity 04401
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Learn More About This Property
| State | ME |
|---|---|
| County | Penobscot |
| City | Bangor |
| Zip Code | 04401 |
| Listing VS Median (in 04401) | |
Price: $429,000 low | high Med: $319,500 SqFt: 2,266 low | high Med: 2,040 $ / SqFt: $189 low | high Med: $157 On Site: 95 low | high Med: 14.000000 | |