16 Walter St, Bangor, ME 04401
- $259,900
- 2
- BA
- 2,008
- SqFt
Listing courtesy of ERA Dawson-Bradford Co..
- List Price
- $259,900
- MLS#
- 1662774
- Status
- ACTIVE
- Type
- Multifamily
- City
- Bangor
- County
- Penobscot
- Bathrooms
- 2
- Living Area
- 2,008
- Lot Size
- 3,920
- Year Built
- 1900
Property Description
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.
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Additional Information
- Living Area
- 2,008
- Electric
- Circuit Breakers
- Water
- Public
- Basement
- Interior Entry, Dirt Floor, Full, Sump Pump, Unfinished, Brick/Mortar
- Cooling
- None
- Year Built
- 1900
- Acres
- 0.09
- Roof
- Shingle
- Foundation
- Brick/Mortar
- Style
- Colonial
- Stories
- 2
- Courtesy Of Listing Office
- ERA Dawson-Bradford Co.
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