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1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo
1390 Forest Avenue, Portland, ME 04103 Photo

21 Total Photos [Click to View All]

  • Listing Provided by:
    Maine Realty 2000
    Phone: 207-893-2000 IDX logo

  • 30
    Baths
  • 38,592
    Square Feet
  • 1660904
    MLS#
$9,999,500
Status: Under Contract
1390 Forest Avenue Portland, ME 04103

Property Description

''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.

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Property Features

MLS Number: 1660904
Subdivision:
County: Cumberland
Bedrooms: 0
Total Square Feet: 38,592
Style: Colonial
New Constuction: No
Construction: Wood Frame,Vinyl Siding
Waterfront: No
Property Type: Multi Unit - Multiple
Basement: Exterior Entry, Other
Heating: Gas Natural, Baseboard, Hot Water
Lot Size: 3.80 Acres
Road Surface: Paved
Roof Type: Shingle
Taxes: $1
Year Built: 1985

Feature Descriptions

Electric: Circuit Breakers
Exterior: Wood Frame, Vinyl Siding
Flooring: Carpet, Laminate, Other, Luxury Vinyl
Home Style: Colonial
Lot: Intown, Near Shopping, Near Turnpike/Interstate, Level, Open Lot, Sidewalks, Landscaped, Wooded, Near Public Transit
Parking: Paved,21+ Spaces, On Site
Sewer: Public Sewer
Special View Info: Trees/Woods
SQ FT Above Grade: 38592
SQ FT Below Grade: 0
Water: Public
Wooded: Yes

Location

Listed By / Shown By

Listed By

Broker Name: Maine Realty 2000
Broker Phone: 207-893-2000

IDX logo

Estimate Your Payment

Estimated Payment

$ 51,911.67 per month $48,995.07 Principal & Interest $0.08 Property Tax $2,916.52 Homeowner's Insurance

Source: Delta Media Group, Inc.

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