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183-185 Main Street

Belfast

$779,999

beds   ·   8 baths   ·   6,700 sqft   ·   0.34 acres   ·   taxes: $6,552   ·   MLS#: 1649465

Welcome to 183-185 Main St, a compelling opportunity to acquire a two-building multifamily property located in the heart of downtown Belfast. The property totals approximately 6,700± square feet and is positioned directly on Main Street, offering walkable access to the waterfront, restaurants, shops, and local amenities. Per municipal records, the property is assessed as a four (4) unit multifamily. The property has been operated as an eight (8) unit residential rental for approximately 20 years, consisting of seven (7) one-bedroom units and one (1) two-bedroom unit. Buyer to perform all due diligence regarding unit count, zoning, fire/life safety, and permitted use. Current in-place monthly income is approximately $6,850, with one unit currently owner-occupied. Market rents support approximately $1,100/month for one-bedroom units and $1,400/month for the two-bedroom unit, including the owner-occupied unit. Upon lease-up and stabilization, the property supports an estimated additional $3,900/month, for a total stabilized monthly income of approximately $10,750±, offering clear upside through rent optimization. The offering includes two separate buildings on one parcel, providing flexibility for ownership, management, and future improvements. Strong downtown rental demand, Main Street frontage, and proximity to Route 1 contribute to long-term investment appeal. This property is well-suited for investors seeking a stable downtown asset with in-place income and identifiable upside. Property offered as-is.

MORE DETAILS

Structure

  • Electric : Circuit Breakers
  • Year Built : 1858
  • Style : Colonial
  • Flooring : Wood, Vinyl, Tile, Other, Laminate
  • Roof : Metal
  • Basement : Interior, Walk-Out Access, Partial, Bulkhead, Exterior Only
  • Heating : Hot Water, Direct Vent Furnace
  • Cooling : None

Site

  • Water Source : Public
  • Sewer : Public Sewer
  • Zoning : R 10
  • Road Surface Type : Paved
Listing provided by Dream Home Realty LLC

Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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Camden Real Estate participates in MREIS' Maine Internet Data Exchange (Maine IDX) program, allowing us to display other Maine IDX Participant's Listings. We have chosen, however, to limit the Listings shown on this page to only those Listings meeting the following criteria: listings in Maine only.


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© Camden Real Estate Company
43 Elm Street
Camden, Maine 04843
207.236.6171
info@camdenre.com
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43 Elm Street Camden, Maine 04843
207.236.6171     info@camdenre.com
   
© Camden Real Estate Company
privacy policy