Est. Mortgage: $/month
MLS Number 1506139
- Style New Englander
- MLS Status Active
- Property SubType Multi Family
- Address 48 Waldo Avenue
VERY IMPORTANT, IF POSSIBLE CALL or text first. This 1870 building has 5 units & the tenants are long term as none have moved out in 4 years or longer. The owners believe in a cooperation of the owners and tenants treating each other with respect and niceness. The owners do not charge the highest rent but yearly they increase based on the individual ability for that increase. The owners have owned this building since 2006. The location makes walking to the stores and waterfront in 5 to 10 minutes. In 2019 the building brought in $44,501 in rents, in 2020 the rent totals were $50,616 with & our present rents the next year will bring in $54,276 or more. Every apartment has a washer & dryer or access to a common washer/ dryer. Each of the 5 apartments has a Rennui heaters which are efficient and safe. The owners pay the utililities and the tenants kept the heat totals to $2837 for the 5 unit apartment house for the year 2020 and the electric useage for the year was $3091. The total expenses including maintenance, taxes, insurance, water, sewer, garbage, electric, and heat was $13,644. The roof is 3 years old, and the owners expect few extra major expenditures. The basement is full, concrete and dry.(It will be emptied if new purchase) All the leases are monthly and use Maine Housing for 3 of the apartments. Maine Housing does a yearly very thorough and very safe inspection. The usual 24 Hour notice but do prefer a drive by first (no use in inconveniencing anyone)or will show the outside, basement and common areas with short notice. Also every Winter the owners go away for up to 2 months with the tenants being helpful and self reliant. The owners will help any new owner and also will consider some owner financing depending on the needs of the prospective owners. Belfast is a wonderful small town with a small town council governing. So central location, great small town and the present owner would even assist with management if needed. BROKER OWNED.
Listed by Berkshire Hathaway HomeServices Northeast Real Estate