8-Unit Apartment
For Sale
$400,000
323 Cumberland St, Rumford, ME 04276
Multifamily property with separate electric, varied unit layouts, and two vacant apartments for leasing or renovation.
Property Size6,300 SF
Price / SF$63.49
Days on Market24
Property Features for 323 Cumberland St
General Information
Standard status
Active
Size
6,300 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4-bedroom, 3 x 3-bedroom, 4 x 1-bedroom
Multifamily Units
8
Additional Details
Cap Rate
10.6%
Building Details
Year Built
1920
Listing Agency:
Elevate Maine Realty
(207) 213-7644
Listed By:
Tyler Stewart · License #BA927955
Source:
Aroostookrealestate
Added: Aug 5
Changed: Aug 28
Last Checked: Aug 28 at 12:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elevate Maine Realty
Investment Insights
Based on property information with market context.
Built in 1920, this 6,300-square-foot apartment building contains eight units with a mix of one four-bedroom, three three-bedroom, and four one-bedroom apartments. Separate electric service supports utility allocation across the property. Two units are vacant, while several longer-term occupants remain in place.
The property is operating at a 10.6% cap rate, with a projected stabilized cap rate of 16%+ after improvements and leasing activity. Located at 323 Cumberland St in Rumford, the building is minutes from downtown and major employers.
The property is operating at a 10.6% cap rate, with a projected stabilized cap rate of 16%+ after improvements and leasing activity. Located at 323 Cumberland St in Rumford, the building is minutes from downtown and major employers.
Key Highlights
- 8‑unit apartment building with 6,300 square feet
- Unit mix includes 1 four‑bedroom, 3 three‑bedroom, and 4 one‑bedroom units
- Two vacant units available for renovation or leasing
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 04276, ME
5,858
Population
3,584
Households
1.6
Avg Household Size
48
Median Age
19%
College-Educated
90%
High-School Grad
68.6 sq mi
ZIP Area
85
Density / Sq Mi
$39,522
Median Household Income
$31,654
Median Earnings
$638
Median Rent
$119,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with separate electric, varied unit layouts, and two vacant apartments for leasing or renovation.
Where is this apartment building located?
The property is located at 323 Cumberland St Rumford, ME.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 8‑unit apartment building with 6,300 square feet; Unit mix includes 1 four‑bedroom, 3 three‑bedroom, and 4 one‑bedroom units; Two vacant units available for renovation or leasing
