Portland
$9,999,500
1390 Forest Avenue
mls: 1660904
Bathrooms: 30
Year Built: 1985
Sq Footage: 38,592
Lot Size: 3.8
Taxes: $1
Status: Active

''MAJOR INVESTMENT OPPORTUNITY'' This is a rare opportunity to own this well maintained 44 unit apartment complex featuring 5 separate buildings on a beautiful 3.

Listed by: Maine Realty 2000

''MAJOR INVESTMENT OPPORTUNITY'' This is a rare opportunity to own this well maintained 44 unit apartment complex featuring 5 separate buildings on a beautiful 3.8 Acre lot that is extremely convenient to everything including public transportation. The 5 buildings consist of 3 three story 12 unit buildings and 2 two story 4 unit buildings, all units are 2 bedroom, 3 different styles with some including a laundry, heat & hot water included with natural gas, an additional extensive shop area / storage / office spaces with a half bath below unit #5, large shed, ample parking with guest spaces, nice lawn area, lots of updates & improvements including windows, excellent rental history, currently fully occupied with mostly long term tenants & great payment history. THIS IS A VERY SOLID ALL AROUND MULTIUNIT RENTAL PROPERTY WITH GREAT OVERALL NUMBERS, MOSTLY LONG TERM TENANTS, LOW TURNOVER, RARE VACANCIES, THE POTENTIAL FOR INCREASED RENTS, SUBSTANTIALLY MORE VERSATILITY & SIGNIFICANTLY HIGHER FINANCIAL YEILDS IN THE FUTURE WHEN THE CURRENT AFFORDABLE HOUSING USE, WITH 100% PROPERTY TAX EXEMPTION, MAY BE DISCONTINUED AND ALLOW FOR MULTIPLE OTHER OPTIONS....CALL BRUCE LUDKA FOR MORE INFORMATION.

Listed by: Maine Realty 2000

Above Grade Finished Area
38592.00
Accessibility Features
Appliances
Architectural Style
Colonial
Basement
Exterior Entry
Bathrooms Full
30
Bathrooms Half
0
Bathrooms Total Integer
30
Below Grade Finished Area
0.00
Body Type
Building Area Total
38592.00
Construction Materials
Cooling
None
Electric
Circuit Breakers
Exterior Features
Flooring
Carpet, Laminate, Other, Luxury Vinyl
Foundation Details
Green Energy Efficient
Heating
Baseboard, Hot Water
Heating Yes/No
1
Interior Features
Laundry Features
Lot Features
Near Public Transit
Lot Size Acres
3.8000
Other Equipment
Other Structures
Shed(s)
Parking Features
Patio And Porch Features
Pets Allowed
Property Condition
Roof
Shingle
Sewer
Public Sewer
Tax Annual Amount
1.00
Utilities
Water Source
Public
Year Built
1985
Zoning
54