Well-Maintained 10-Unit Apartment
52 Ohio Street Bangor, ME 04401
52 Ohio Street, Bangor, ME, 04401
$939,000
Pending
For Sale
$939,000
Pending
Ten-unit multifamily property with updated mechanicals and long-term tenants, offering stable rental income potential.
Property Size7,122 SF
Days on Market51
Property Features for 52 Ohio Street
General Information
- Standard status
- Pending
- Size
- 7,122 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1880
Listing agency
Better Homes & Gardens Real Estate/The Masiello Group
(207) 331-3747
Listed by
Emilie Bronson Blair · License #926864
(207) 331-3747
Source
Compass
Added: Jun 1 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 7:04AM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This well-maintained 10-unit apartment building is configured as a residential income property with attractive landscaping and curb appeal. The heating system has been converted to natural gas, and the property has seen many electrical and plumbing updates, supporting a solid foundation for continued operations.
The building is located in a central area and sits on a bus route, with convenience to shopping, downtown, and community services.
For buyers seeking a small multifamily asset, the existing long-term tenants in place and the building’s update history may be attractive from a continuity standpoint. This is a turn-key style opportunity focused on ownership of a maintained 10-unit building rather than a value-add concept, based on the information provided.
The building is located in a central area and sits on a bus route, with convenience to shopping, downtown, and community services.
For buyers seeking a small multifamily asset, the existing long-term tenants in place and the building’s update history may be attractive from a continuity standpoint. This is a turn-key style opportunity focused on ownership of a maintained 10-unit building rather than a value-add concept, based on the information provided.
Key Highlights
- 10‑unit apartment building with long‑term tenants in place
- Heating converted to natural gas; heating included via gas natural and radiator
- Many electrical and plumbing updates reported
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $115.4k | $16.20 |
| − Vacancy | −$6.2k | −$0.87 |
| EGI | $109.1k | $15.33 |
| − OpEx | −$49.1k | −$6.90 |
| NOI | $60.0k | $8.43 |
7,122 SF · lease $16.20/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$857.6K
$750.4K – $1.00M
NOI $60,030 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $161,014 @ 7.0% cap · market cap 17.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Ten-unit multifamily property with updated mechanicals and long-term tenants, offering stable rental income potential.
Where is this apartment building located?
The property is located at 52 Ohio Street Bangor, ME.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: 10‑unit apartment building with long‑term tenants in place; Heating converted to natural gas; heating included via gas natural and radiator; Many electrical and plumbing updates reported
