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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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7 Mill St , Sanford, ME 04083
$1,350,000
Est. Payment: $3,000.00/mo
0 Bed
10 Bath
7057 Sqft
Status: Active | Days on site: 0
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2865 - 014791,019463
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House Description

Rare multi-family portfolio opportunity in Springvale, Maine! Presenting a fully renovated five-unit residential complex (5plex) offered as a turnkey investment, package sale, and ideal 1031 exchange target in York County, Southern Maine. Encompassing over seven thousand square feet of newly redeveloped apartment building space with zero deferred maintenance and zero CapEx required, this rare multi family asset combines immediate cash flow and pro forma strength with massive cost segregation potential. Nearly Finalized condo conversion master documentation and individual unit floor plans establish a pre-mapped exit strategy, allowing an investor to operate the entire complex as a stabilized multi-family rental portfolio today or execute a bulk condo or piecemeal retail unit sell-off down the road. Driven by a tight Southern Maine rental market with historically low vacancy rates, this asset delivers an attractive pro forma cap rate over seven based on conservative average area rents. The property features five distinct floor plans that eliminate internal unit competition and protect aggregate portfolio occupancy. Layouts in this fully renovated multi-family include a sprawling single-level end residence with a private deck, a ground-floor suite with dual home office bonus rooms, a premier riverfront waterfront flagship suite, a sunlit upper residence with soaring vaulted ceilings, and a showcase two-story waterfront loft. Operational overhead will remain exceptionally low with brand-new mechanicals and separately metered utilities, as tenants are individually metered for electric and dedicated propane heat, leaving landlord coverage limited to public water and common grounds. Security System hardwired and cameras installed. Conveniently situated steps from Meeting Grounds Cafe, Number 3 Pond, and Springvale Park in Sanford, this turnkey Maine investment property represents a low-overhead, high-performing asset in a prime Southern Maine location.

Highlights

Listed by Troy Williams , 207-475-0999 and Jeremy Frantz , 207-974-9734 Keller Williams Coastal and Lakes & Mountains Realty , 207-475-0999.

Property Type

Multi-Family

Lot/Acreage
0.66

Year Built

1864

County

York

Listing ID

1681112

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:10
  • Full Bathrooms:10
Floor:Carpet,Vinyl
Above Ground Sq Ft:7057
Below Ground Sq Ft:0
Basement:Exterior Entry,Walk-Out Access,Full
Other:
  • Additional:1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Bathtub, Shower, Storage, Walk-In Closet(s), Primary Bedroom w/Bath
Water:Public

Exterior Features

Lot:Intown,Near Shopping,Level
Zoning:Urban
Roof:Shingle
Sewer:Public Sewer
Parking Features:Gravel,11 - 20 Spaces,Assigned,Off Street
Principal Interest
$3,000
Taxes
$427

Home Price

$1,350,000

Loan Details

30 yrs
%

Down Payment

20%
$270,000
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Monthly Price:
$3,000.00

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,000.00 $426.61 $0.00 $3,426.61
Yearly $36,000.00 $5,119.30 $0.00 $41,119.30
Total $1,080,000.00 $153,579.00 $0.00 $1,233,579.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Sanford, ME).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.