Investors Take Notice! Fantastic opportunity to own this income-producing 5-unit property complete with a 6 unit storage building. Conveniently located close to downtown, this property offers plenty of parking for tenants and guests. Strong rental history with room for even more growth. Key features include: Natural gas heat for efficiency, newer deck for added value, updated kitchen in one of the units, and refinished hardwood floors in select areas With reliable tenants already in place and tons of potential to increase returns, this property is a must-see for any serious investor. 48-hour notice required for showings.
Investors take notice! Money making 6 unit with storage building. Plenty of parking and close to downtown. Property features natural gas heat, newer deck and a updated kitchen in one of the units. Some hardwood floors that were just refinished as well. Great rental history with tons of potential. Required 48 hour notice for showing please.
MREIS #1291829
May 31, 2017
Sold
$200,000
$40/sq ft
Jan 4, 2017
Listed
$256,750
$51/sq ft
Money making 6 unit building, fully rented with great parking. Newer boiler, natural gas, and close to downtown. Storage building needs finishing touches. Motivated Seller!! 48 Hours notice required for showings.
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
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Baths
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Stories
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Lot width
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Lot depth
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Lot size
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Year renovated
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Sq. Ft.
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Year built
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Style
Multi-Family (5+ Unit)
County
Penobscot County
APN
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Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on Apr 28, 2023.
URD-2
Urban Residence 2 District
The Urban Residence 2 District is established to stabilize and protect the essential characteristics of certain traditional residential areas which are substantially developed with one-family to four-family detached dwellings and to promote and encourage a suitable environment for family life. Development in this district is intended to be limited primarily to the existing low- to medium-density residential use.
Permitted uses
Include but are not limited to:
Day care facility
Housing-Group
Housing-Single unit
Housing-Multiple units
Property details
Parking
Parking Information
Parking Features: 5 - 10 Spaces, Gravel
Interior
Virtual Tour
Bathroom Information
# of Baths (Full): 6
Basement Information
Basement Entry: Walk-Out Access, Brick/Mortar, Full, Partial, Exterior Only
Interior Features
Interior Features: Storage
Furnished: Unfurnished
Accessibility Features: 32 - 36 Inch Doors
Flooring: Laminate, Carpet
Other Equipment: Internet Access Available
Multi-Unit Information
# of Units Total: 5
# of 1 Bedroom Units: 2
# of 2 Bedroom Units: 1
# of 3 Bedroom Units: 2
Operating Expense: $29,287.35
Gross Income: $67,099.65
Unit 1 Information
# of Bedrooms: 2
Actual Rent: $1,350
Dedicated Gas Meter: No
Dedicated Water Heater: No
Electric: No
Has Heat: Yes
Level: First
Refrigerator: Yes
Sewer: Yes
Water: Yes
Unit 2 Information
# of Bedrooms: 3
Actual Rent: $1,400
Dedicated Gas Meter: No
Dedicated Water Heater: No
Electric: No
Has Heat: Yes
Level: Second
Refrigerator: Yes
Sewer: Yes
Water: Yes
Unit 3 Information
# of Bedrooms: 1
Actual Rent: $600
Dedicated Gas Meter: No
Dedicated Water Heater: No
Electric: No
Has Heat: Yes
Level: First
Refrigerator: Yes
Sewer: Yes
Water: Yes
Unit 4 Information
# of Bedrooms: 3
Actual Rent: $1,200
Dedicated Gas Meter: No
Dedicated Water Heater: No
Electric: Yes
Has Heat: Yes
Level: Basement
Refrigerator: Yes
Sewer: Yes
Water: Yes
Unit 5 Information
# of Bedrooms: 1
Actual Rent: $900
Dedicated Gas Meter: No
Dedicated Water Heater: No
Electric: No
Has Heat: Yes
Level: First
Refrigerator: Yes
Sewer: Yes
Water: Yes
Exterior
Building Information
Construction Materials: Vinyl Siding, Wood Frame
Foundation Details: Block, Granite, Brick/Mortar
Roof: Shingle
Total Building Area (Sq. Ft.): 5,015
Exterior Features
Patio & Porch Features: Deck
Other Structures: Outbuilding
Property Information
Year Built: 1880
Above-Grade Finished Area (Sq. Ft.): 5,015
Levels: Multi-Level
Lot Information
Lot Size (Sq. Ft.): $9,147.60
Lot Size (Acres): 0.21
Lot Size Source: Public Records
Lot Features: Corner Lot, Intown, Near Golf Course, Near Shopping, Near Public Transit
Road Surface Type: Paved
Zoning: URD-2
Financial
Tax Information
Annual Tax Amount: $5,124
Tax Year: 2024
Utilities
Utility Information
Has Heating
Heating: Hot Water, Baseboard
Electric: Circuit Breakers
Sewer: Public Sewer
Utilities: Utilities On
Utilities On: Yes
Water Source: Public
Water Heater: Off Heating System
Location
Location Information
Unparsed Address: 64 Cedar Street, Bangor, ME 04401
Directions: Corner of Cedar and Second Street.
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Multi-Family (5+ Unit)
Year Built: —
Year Renovated: —
County: Penobscot County
APN: —
Home facts updated by county records on Apr 28, 2023
Around this home
Schools
Vine Street School
Public PreK-3 • Assigned • 0.5mi
8/10
James F. Doughty School
Public 6-8 • Assigned • 0.4mi
6/10
Bangor High School
Public 9-12 • Assigned • 2.4mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 91° expected this year, 15 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Bangor, ME • 04401
Average low and high temperatures (°F)
27
10
30
8
42
24
52
35
65
45
76
54
82
60
81
54
73
49
61
40
46
32
32
14
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 7.5 hours in
June and 2.9 hours in December, placing it below the
U.S. average for solar exposure.