About this home
''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.
Listing last checked: Listing updated:
Listed by Listing Agent · Maine Realty 2000 · MLS #1660908
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Details at a glance
Interior3 property facts
- Heating
- Baseboard, Hot Water
- Cooling
- None
- Flooring
- Carpet, Laminate, Other, Vinyl
Building3 property facts
- Style
- Investment
- Year built
- 1985
- Roof
- Shingle
Land & utilities4 property facts
- Lot size
- 3.8 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- 54
Financial1 property facts
- Assessment year
- 2025
Location
Estimated monthly cost
Explore costs at the $9,999,500 asking price. Adjust the assumptions to your situation.
Known monthly costs$50,563 / monthAdjust
- Principal & interest
- $50,563
- Property tax
- Not entered
- Insurance
- Not entered
- HOA
- Not entered
Annual property taxes were not supplied. HOA amount was not supplied.
Partial estimate: add property tax, 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 1390 Forest Avenue
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