Multi-Family $ 650,000

5,7,9 Renewal ST

Corinna, ME 04928

  • 7 Baths
    Full Baths: 7
  • 6,247 SqFt
  • 0.57 Lot Size
  • 1940 Year Built
Cash Cow Alert!
This is the kind of property investors dream about. A cap rate north of 10 percent, steady income, and the chance to own an entire street. Opportunities like this do not come along often.

You get three well-maintained buildings plus an oversized garage. The first building is a spacious three unit with a 3 bedroom, 1 bath, a 2 bedroom, 2 bath, and a 2 bedroom, 1 bath. Two units have been beautifully renovated, and the third is home to a long-term tenant of more than 15 years.

The second building delivers two massive apartments, each well over 1,300 square feet. One is a 3 bedroom, 1 bath, and the other is a 2 bedroom, 1 bath. Both are in great condition and rented to quality tenants.

The third building is a charming 2-3 bedroom, 1 bath single family home with spotless tenants who treat the place like their own. Add in an oversized two car garage for bonus income potential, and you have multiple revenue streams on day one.

Tenants love the yards, quiet dead end location, and open parking lot where kids can safely ride bikes and play. You will love the consistent occupancy and strong rental history.

Perfectly located under 10 minutes to Newport, 15 minutes to Pittsfield, and just 35 minutes to Bangor, Waterville, and Skowhegan. With the 100 percent bonus depreciation that just passed, the timing could not be better to lock this in and offset your taxes.

Serious investors know that opportunities like this do not sit around. Call today before someone else takes it off the market.
Listed by Real Broker

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family

    Listing Status Active

    Square Footage 6, 247 sqft

    Price per Sqft $104

    MLS Listing ID 1633758

    Style Other, Colonial

    Full Baths 7

    HOA Y/N No

    Abv Grd Liv Area 6,247

    Year Built 1940

    Annual Tax Amount $3,921

    Tax Year 2025

    Lot Size 0.570 Acres

    Acres 0.57

    Source Maine Listings

    Land Area 6247

  • Location

    State ME

    County Penobscot

    Zoning Mixed use

  • Rooms

    Basement Interior, Full, Unfinished

  • Building

    Lot Description Open, Level, Near Golf Course, Near Turnpike/Interstate, Near Town

    Sewer Public Sewer

    Water Public

    Architectural Style Other, Colonial

    Structure Type Wood Siding,Vinyl Siding,Wood Frame

  • Interior

    Interior Features 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath

    Heating Other Heat System, Hot Water, Heat Pump, Forced Air

    Cooling Window Unit(s), Heat Pump

    Flooring Wood, Tile, Laminate, Carpet

  • Exterior

    Parking Features 5 - 10 Spaces, Paved, Detached

    Garage Spaces 2.0

    View Y/N No

    Roof Type Shingle

    Street Surface Paved

    Garage Yes

  • Others

    Energy Description Oil, K-1Kerosene, Electric

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