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71 1st Street

Bangor

$324,900

beds   ·   5 baths   ·   2,776 sqft   ·   0.11 acres   ·   taxes: $3,111   ·   MLS#: 1668153

**71 First St, Bangor, ME** Solid 5 unit investment property with the big ticket items already taken care of. The current owner has made major capital improvements, including a new roof, new siding, new windows, and an updated natural gas furnace. These are some of the most expensive items investors typically face with older multifamily properties, giving the next owner a strong foundation from day one. The building offers a desirable unit mix with two 2 bedroom apartments and three 1 bedroom apartments. All units are currently on month to month leases, creating flexibility for a new owner to improve operations, adjust rents, and increase overall income potential. While the exterior and major systems have already been addressed, the interiors still offer room for value add improvements. Cosmetic updates to the units could help support higher rents, attract stronger tenants, and create forced appreciation over time. This is a property where the next investor can focus on increasing income instead of immediately replacing major building components. Located in Bangor with convenient access to downtown, hospitals, shopping, restaurants, and major employers, 71 First Street offers both current rental income and future upside. A strong option for an investor looking for a multifamily asset with completed capital improvements, flexible leases, and a clear path to improved cash flow.

MORE DETAILS

Structure

  • Electric : Circuit Breakers
  • Year Built : 1900
  • Style : Colonial
  • Flooring : Laminate, Vinyl, Hardwood, Plank
  • Roof : Shingle
  • Basement : Interior Entry, Dirt Floor
  • Heating : Gas Natural, Baseboard
  • Cooling : Window Unit(s)
  • Appliances : ENERGY STAR Qualified Appliances

Site

  • Water Source : Public
  • Sewer : Public Sewer
  • Zoning : 14 Urban Res Dist 2
Listing provided by CENTURY 21 Queen City Real Estate

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