8
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Listed by Tyler Stewart Elevate Maine Realty
$360,000
Est. payment /mo
6 Baths
4,500 SqFt
Exclusive Listing
Pending
425 Cumberland ST Rumford, ME 04276
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Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $80
MLS Listing ID 1652561
Full Baths 6
HOA Y/N No
Year Built 1923
Tax Year 2025
Lot Size 7,840 Sqft
Acres 0.18
Source Maine Listings
Land Area 4500
Property Description
Well-located 6-unit multifamily comprised of a desirable unit mix of three (3) 2-bedroom apartments and three (3) 3-bedroom apartments. The property currently has one rent ready vacancy, providing immediate upside through lease-up and income stabilization. The building is operating at a 10.3% cap rate, with a clear path to increased performance. Through rent optimization and full occupancy, the property shows potential to achieve a 14%+ cap rate, making this an attractive opportunity for investors seeking both cash flow and value appreciation. Additional upside is supported by a newer furnace, helping reduce near-term capital expenditure concerns while improving operational efficiency. An ideal acquisition for investors looking to step into a light value-add opportunity with meaningful income growth potential.
Location
State ME
County Oxford
Zoning Res
Rooms
Basement Interior Entry, Full, Unfinished
Interior
Heating Oil, Baseboard, Hot Water
Cooling None
Flooring Vinyl, Wood
Exterior
Parking Features Paved, 1 - 4 Spaces, Off Street
Roof Type Flat
Garage No
Building
Lot Description Intown, Level
Story 3
Entry Level Multi-Level
Foundation Stone, Poured Concrete
Water Public
Architectural Style Other
Others
Tax ID RUMF-000113-000000-000264
Nearby Locations
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