80 Elm St, Unit 88 Waterville, ME 04901-6028
- Investment properties
- 9,829 SF
- 0.89 lot acres
Jan 08, 2025
Current Use by Public Records
- Investment properties
Property Details for 80 Elm St
- Lot size
- 0.89 lot acres
- Property size
- 9,829 SF
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- WAVL M:048 B:249
- APU
- WAVLM048B249
Description
This exceptional investment package in Waterville, Maine presents a compelling opportunity for value-add investors. Located at 80 Elm St, 04901, this property encompasses four buildings totaling 16,307 square feet on a 0.89-acre lot. The core of the offering is a 23-unit apartment building, featuring 24 beds (21 one-bedroom units and 1 two-bedroom unit), ideal for students given its proximity to Colby College and vibrant Main Street. Adding significant income potential is a separate 22-unit self-storage facility and a laundromat building, both currently leased to an operator. Built in 1900, the property boasts a strong current performance, exhibiting a 12.59% capitalization rate and a net operating income (NOI) of $163,713. The asking price is $1,300,000. The property is zoned CA, offering potential for future development or expansion. This is a rare chance to acquire a well-positioned multifamily and self-storage portfolio in a thriving Maine community. The combination of strong cash flow, value-add potential, and prime location makes this an attractive investment prospect with significant upside.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waterville
- County
- Kennebec
- State
- Maine
- Longitude
- -69.6327
- Latitude
- 44.5519
- CBSA code
- 12300
- CBSA name
- AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA
