About this home
Investment opportunity! Fully occupied four-unit in a convenient Auburn location, featuring a strong, long-term rental history. All apartments are occupied by established tenants with great payment histories and a desire to stay long term. The property currently generates $5,450 per month and $65,400 in annual gross rental income. Units 1 and 4 are below market rent due to long-term tenancies, while Unit 3 is also slightly below market, creating additional rental income opportunity. Each unit has its own electric meter and hot-water tank, with all hot-water tanks recently replaced. A coin-op washer and dryer serve the majority of the building, while Unit 4 has private washer/dryer hookups. Two separate driveways and parking areas provide ample dedicated off-street parking. The attached barn/garage provides substantial additional storage, workshop space, or potential for future renovation into additional living space, subject to town approval. 34 Oak Street, Augusta and 167 Summer Street, Auburn may also be purchased together as a package, with favorable package pricing available. Inquire for details.
Listing last checked: Listing updated:
Listed by Listing Agent · Maine Source Realty · MLS #1682968
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Details at a glance
Interior4 property facts
- Heating
- Forced Air
- Cooling
- None
- Flooring
- Carpet, Laminate, Tile, Wood
- Fireplaces
- 1
Building5 property facts
- Style
- Other
- Year built
- 1920
- Garage
- 1
- Foundation
- Block, Brick/Mortar
- Roof
- Shingle
Land & utilities4 property facts
- Lot size
- 0.25 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- Rural Residential
Financial2 property facts
- Annual taxes
- $5,189
- Assessment year
- 2026
Location
Estimated monthly cost
Explore costs at the $495,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$2,935 / monthAdjust
- Principal & interest
- $2,503
- Property tax
- $432
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $5,189. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
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About 167 Summer Street
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Request a tour of 167 Summer Street and a Bean Group agent will help coordinate an available time with the listing side.
Can you help me evaluate this property?
Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.
Are property documents available?
Availability varies by property and source. Request the documents you need and we will help obtain what is available.