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14-16 Elm Street, Auburn, ME 04210
$655,000
14-16 Elm Street, Auburn, ME 04210View this property at 14-16 Elm Street, Auburn, ME 04210
14-16 Elm StreetAuburnME04210
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Property Description
DON'T MISS AN EXCEPTIONAL INVESTMENT OPPORTUNITY IN AUBURN'S HISTORICAL DISTRICT. Two-buildings offering 7 spacious apartments (5-1 bedroom and 2-2 bedroom units) on a single lot with dedicated off-street parking. Each unit offers large rooms, hardwood floors, high ceilings, individual heating and oversized windows making this an attractive and efficient rental opportunity. Property has an excellent rental history with great tenants who take care of their apartments and pay on-time. This well-maintained building and ideal location will continue to provide ease in finding the right qualified applicants. Many existing tenants are month-to-month. Come experience an investor's dream with a mix of long-term tenants and low turnover. The Cap Rate is near 10% with below market rents. There is plenty of upside here. Five apartments have been renovated and additional upgrades have been made throughout the two buildings. 14 Elm St is the rear building which houses two large 2-bedroom apartments with decorative pillars, quality woodwork, formal dining rooms, built-in cabinets and added private storage rooms. Additional space in the attic could be considered an expansion opportunity for this building. 16 Elm St offers five spacious 1-bedroom apartments with high ceilings and plenty of natural light. All 7 units have separate meters and are heated with efficient Rinnai heaters that burn natural gas. Heaters have been maintained and serviced regularly. Recent heat pump water heaters were installed in 16 Elm St. Upgraded electrical in both buildings A turnkey investment that grosses over $83,000/year.
Full Property Details
Full Property Details for 14-16 Elm St
General
- Sold For: $655,000
- Taxes: $5,713 (2022)
- Status: Closed
- Type: Multi-Family
- MLS ID: 1580035
- Added to Site: 133 day(s) ago
Interior
- Interior Features: 1st Floor Bedroom, Attic
- Flooring: Wood, Vinyl, Carpet
Rooms
Bathrooms
- Total Bathrooms: 7
- Full Bathrooms: 7
Other Rooms
- Laundry: Washer Hookup
Parking
- Parking Features: 5 - 10 Spaces, Paved, Off Street
Location
- County: Androscoggin
Community
- Pets Allowed: Yes
Heating & Cooling
- Cooling Type: None
- Heating Type: Other Heating System, Hot Water, Baseboard
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Architectural Style: Multilevel
- Construction: Wood Siding, Asbestos, Wood Frame
- Roof: Shingle
- Building Size: 5301
- Square Feet: 5,301
- Living Area: 5,301 Sq. Ft.
- Finished Total: 5,301 Sq. Ft.
- Finished Above Grnd: 5,301 Sq. Ft.
- Year Built: 1900
Lot Features
- Lot Size (Acres): 0.23
- Lot Size (Sq. Ft.): 10,018.8
- Lot Size Source: Public Records
- Zoning: Downtown Enterprise
- Lot Description: Level, Open Lot, Intown
Financial Considerations
- Tax Amount: $5,713
- Tax Year: 2022
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Documents Avail.: Deed Public Access, Property Disclosure Public Access, Lead Paint Addendum Public Access
- Lot Number: 124
Listed by Fontaine Family-The Real Estate Leader (207) 289-3830
Sold by Keller Williams Realty (207) 879-9800
Get Pre-Approved Today
Schools
Schools serving 14-16 Elm St
Rating | Name | Grades | Distance |
---|---|---|---|
Sabattus Primary School
36 No Name Pond Rd, Sabattus, ME 04280 | PK-2 | 6 mi | |
Memorial School, New Gloucestr, ME
86 Intervale Rd, New Gloucestr, ME 04260 | K-2 | 8.2 mi | |
33 Mill St, Lisbon, ME 04250 | PK-5 | 8.5 mi | |
38 Falcon Dr, Auburn, ME 04210 | 7-8 | 1.2 mi | |
75 Central Ave, Lewiston, ME 04240 | 7-8 | 1.4 mi | |
40 Ball Park Rd, Sabattus, ME 04280 | 6-8 | 6.5 mi | |
77 Harris St, Auburn, ME 04210 | 9-12 | 0.4 mi | |
156 East Ave, Lewiston, ME 04240 | 9-12 | 1.2 mi | |
Lewiston Regional Technology Center
156 East Ave, Lewiston, ME 04240 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 14-16 Elm St
Date
Details
Price
Change
Source
3/13/2024
Sold
$655,000
-1.5%
MLS
1/06/2024
Listed
$665,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
14-16 Elm Street, Auburn, ME 04210 (MLS# 1580035) is a Multi-Family property that was sold at $655,000 on March 13, 2024. Want to learn more about 14-16 Elm Street? Do you have questions about finding other Multi-Family real estate for sale in Auburn? You can browse all Auburn real estate or contact a Coldwell Banker agent to request more information.