Brewer, Maine, nestled along the Penobscot River, boasts a rich history and vibrant community. Among its charming streets lies 107 State St, a delightful 4-unit apartment building currently up for sale at the attractive price of $425,000. With the potential for a 10% cap rate, this property offers a lucrative investment opportunity. Additionally, it holds appeal as a potential owner-occupied purchase. Let’s take a closer look at this property and the opportunities it presents for prospective buyers.
Location and Neighborhood: Situated in the heart of Brewer, 107 State St offers convenient access to amenities, schools, parks, and more. The neighborhood exudes a welcoming atmosphere, perfect for families, young professionals, or retirees seeking a comfortable and connected community.
Property Features: This well-maintained apartment building features four spacious units, each offering comfortable living spaces. With a mix of one and two-bedroom configurations, it appeals to a diverse range of tenants. The property boasts ample parking space, ensuring convenience for residents.
Investment Potential: For savvy investors, 107 State St presents an exciting opportunity to generate passive income. With a strong rental market in Brewer, the potential for consistent cash flow is promising. At a purchase price of $425,000 and a projected 10% cap rate, investors can expect a significant return on investment. Additionally, the property’s prime location enhances its long-term value, making it a sound investment choice.
Owner-Occupied Potential: Aside from its appeal as an investment property, 107 State St also presents an excellent opportunity for owner-occupiers. One of the units could be occupied by the owner, allowing them to live onsite while managing the other rental units. This arrangement not only provides a source of income but also offers the convenience of being a hands-on landlord.
Renovation and Improvement Opportunities: While the building is in good condition, there’s always room for improvement. Whether it’s cosmetic upgrades to enhance curb appeal or strategic renovations to increase rental value, buyers have the flexibility to tailor the property to their preferences and maximize its potential.
Community Amenities: Residents of 107 State St enjoy easy access to a variety of amenities, including local shops, restaurants, and recreational facilities. Nearby parks and walking trails offer opportunities for outdoor activities, fostering a healthy and active lifestyle.
Why Brewer, ME?: Brewer’s charm lies in its small-town feel coupled with the convenience of urban amenities. From its historic landmarks to its scenic waterfront, the city offers a rich tapestry of experiences for residents and visitors alike. With a strong sense of community and a thriving local economy, Brewer continues to attract individuals and families seeking a high quality of life.
Conclusion: In summary, Go to Homes.com for more details. 107 State St in Brewer, ME, presents an excellent opportunity for investors or owner-occupants looking to purchase a versatile and income-generating property. Priced at $425,000 and with the potential for a 10% cap rate, this apartment building embodies the best of Brewer’s real estate market. Whether you’re an investor seeking passive income or an owner-occupier looking for a convenient living arrangement, 107 State St offers something for everyone. Explore this property today and envision the possibilities it holds for you.