Updated, energy efficient, cash flowing 2-unit for sale on Carey Ct. in Waterville Maine. Priced rock bottom. We are not willing to go any lower as we've already reduced the asking price by almost 50%. $17,000 annual rental income. Has cash flowed $9,000-$10,000 per year. Apt #1: 2BR $695 heat, hw, elec inc. Apt #2: 3BR $735 heat only inc. Building is in great shape. No lawn to mow, updated heating system, vinyl siding, fully weatherized via Efficiency Maine. One boiler, 2 elec. hot water heaters so tenants can pay own hot water. Very simple "turn key" property. Owners retiring. 11% CAP RATE 44% Return on investment (assuming 25% down payment, 20 year loan, and reasonable income and expense projections) Improvements & Features Efficiency Maine energy audit and upgrades Pensotti direct vent boiler (2010) 2 electric hot water heaters (tenants each have their own) Spray foamed entire basement & sealed floor Caulk and sealed all seams throughout the house, tested with blower door 12-14 inches insulation in attic Updated bathrooms with fiberglass shower / tubs, newer toilets and sinks Washer / dryer hookups in both apartments Vinyl and luxury plank vinyl flooring and paint throughout #2. (some older flooring in Kitchen and bathroom #1) Apartments: One 2 BR apt (Master bedroom has a little "nursery" or dressing room, with built in bureaus and closets.) and one 3 BR apt. Rents are 695 everything included for the 2 BR and 695 heat inc. for 3 BR. $78,000 absolute rock bottom (was asking 139,000) Sellers would like to retire and sell all single and multi family properties. See www.realestateme.com for more information. Letter of credit or proof of funds needed for showing.
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