6-Unit Apartment
For Sale
$360,000
Pending
425 Cumberland Street, Rumford, ME 04276
Three two-bedroom and three three-bedroom units create a balanced residential mix with one rent-ready vacancy.
Property Size4,500 SF
Days on Market189
Property Features for 425 Cumberland Street
General Information
Standard status
Pending
Size
4,500 SF
Property subtype
Multi-Family
Zoning
Res
Units
Unit Mix
3 x 2BR, 3 x 3BR
Multifamily Units
6
Additional Details
Cap Rate
10.3%
Taxes and HOA fees
Annual Taxes
$2,617
Amenities
Oil, Baseboard, Hot Water
Interior Entry, Full, Unfinished
Vinyl, Wood
No
Yes
6
6.0
Flat
Paved
Vinyl Siding
Building Details
Year Built
1923
Buildings
1
Stories
3
Listing Agency:
Elevate Maine Realty
(207) 213-7644
Listed By:
Tyler Stewart · License #BA927955
(207) 213-7644
Source:
Compass
Added: Feb 23
Changed: Aug 31
Last Checked: Aug 30 at 11:49PM
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.
Located at 425 Cumberland Street in Rumford, Maine, this residential multifamily property contains 6 apartments totaling 4,500 square feet. The unit mix includes three 2-bedroom apartments and three 3-bedroom apartments, with one rent-ready vacancy currently available for lease-up. The building was constructed in 1923 and has a full, unfinished basement, wood and vinyl flooring, hot-water baseboard heat, vinyl siding, and a wood-frame structure. A newer furnace is also noted among the improvements.
The property is zoned Res and is currently operating at a 10.3% cap rate. With full occupancy and rent optimization, the property is projected in the source information to potentially reach a 14%+ cap rate. The configuration offers an established six-unit apartment platform with a defined vacancy to address.
The property is zoned Res and is currently operating at a 10.3% cap rate. With full occupancy and rent optimization, the property is projected in the source information to potentially reach a 14%+ cap rate. The configuration offers an established six-unit apartment platform with a defined vacancy to address.
Key Highlights
- 6 apartments totaling 4,500 square feet
- Unit mix includes three 2‑bedroom and three 3‑bedroom apartments
- One rent‑ready vacancy currently available for lease‑up
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
433
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Three two-bedroom and three three-bedroom units create a balanced residential mix with one rent-ready vacancy.
Where is this apartment building located?
The property is located at 425 Cumberland Street Rumford, ME.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 6 apartments totaling 4,500 square feet; Unit mix includes three 2‑bedroom and three 3‑bedroom apartments; One rent‑ready vacancy currently available for lease‑up
