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Bangor Multi-Unit Investment Opportunity

16 Walter Street Bangor, ME 04401

16 Walter Street, Bangor, ME, 04401

$259,900

For Sale

$259,900

MULTI_FAMILY - Colonial - Bangor, ME

Property Size2,008 SF

Lot Size0.09 Acres

Price / SF$129.43

AddedMay 19

Days on Market58

Last RefreshJul 15 at 5:06 am

Property Features for 16 Walter Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: Residential
Bathrooms: 2
Rooms: Bathroom 2, Basement, Bathroom 1
Patio and Porch features: Deck
Pets allowed: No
Basement: Sump Pump, Unfinished, Full, Dirt Floor
Standard status: Active
Size: 2,008 SF
Lot size: 0.09 Acres

Taxes and HOA fees

Tax Year: 2024
Tax Annual Amount: 3024

Utilities

Sewer type: Public Sewer
Heating system: Forced Air, Oil
Water source: Public

Building Details

Year built: 1900
Floors in Building: 2
Number of units: 2
Flooring type: Wood, Hardwood, Linoleum
Building materials: Wood Frame, Vinyl Siding
Roof type: Shingle
Architectural style: Colonial

Listing agent Richard Kenefic

Listing office ERA Dawson-Bradford Co. 417 Main Street, Bangor, ME

Listing date May 19, 2026

MLS# 1662774 Listing URL

Investment Insights

Based on property information with market context.

This multi-unit property in Bangor offers a blend of cash flow and value-add potential. The upper level is occupied by a long-term tenant with a positive history. The lower level has been recently renovated and requires minor finishing. It is suitable for owner-occupancy or premium rental. Current rents are below market value, with approval for Section 8 increases. The property is located directly on the natural gas line, and converting the current oil-fired boiler to natural gas allows a free hookup from Bangor Gas. The property is within walking distance of the Waterfront, the Cross Center, and downtown dining, and is located on a major bus route. The property size is 2008 square feet and the lot size is 0.09 acres. The zoning is Residential.

Key Highlights

Year built 1900 colonial‑style building with wood frame and vinyl siding
Heating includes forced air and an oil‑fired boiler
Plumbing services: public water and public sewer

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$27.7k	$13.80
− Vacancy	−$1.4k	−$0.71
EGI	$26.3k	$13.09
− OpEx	−$7.9k	−$3.93
NOI	$18.4k	$9.16

2,008 SF · lease $13.80/SF/yr · vacancy 5.13% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$262.9K

$230.0K – $306.7K (±1% cap)

NOI $18,402 @ 7.0% cap · market cap 7.08%

Second Best

Apartment 5plus

$241.8K

$211.6K – $282.1K (±1% cap)

NOI $16,925 @ 7.0% cap · market cap 6.51%

Theoretical Best

Office A

$648.5K

$567.5K – $756.6K (±1% cap)

NOI $45,397 @ 7.0% cap · market cap 17.47%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

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For sale
Duplexes
ME
Bangor
04401
16 Walter Street

What type of property is this?

Duplex - Multi-unit property with value-add potential in Bangor's heart.

Where is this duplex located?

The property is located at 16 Walter Street Bangor, ME.

What is the asking price?

The asking price for this property is $259,900.

What are key features of this property?

This property features: Year built 1900 colonial‑style building with wood frame and vinyl siding; Heating includes forced air and an oil‑fired boiler; Plumbing services: public water and public sewer

16 Walter Street Bangor, ME 04401

MULTI_FAMILY - Colonial - Bangor, ME

Property Features for 16 Walter Street

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Live-Work Medical Office Property

Corner Retail and Office Building

Passive Solar Office and Medical Building

Multi-Suite Professional Office Building

Historic Office Building with Basement Entrance

Historic Office Condo

16-Unit Apartment Building

Brick 8-Unit Apartment Building

8-Unit Brick Apartment Building

Historic Mixed-Use Building

High-Visibility Commercial Building in Bangor

Mixed-Use Double House with Offices

FAQs