Listing courtesy of The Dunham Group.
The Lofts are a well-maintained, 12-unit mixed-use property, occupying one wing of the historic Freese's Building in downtown Bangor. The building is comprised of 10 market-rate residential apartments and 2 ground-floor commercial suites, condominiumized alongside Freese's Assisted Living and the Maine Discovery (Children's) Museum. Ownership recently completed a significant capital program — new HVAC, domestic hot water systems, and unit-level electrical metering — positioning the asset for a utility-recovery (RUBS) program and reduced near-term capex risk.
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