Property 17 || Property 169 || Property 60 || Property 28 ||
Property: 17 Boutelle Ave Waterville Maine
This is our largest property and one of our best. A 7,800 SF 7-unit apartment building in one of Waterville's better neighborhoods with little to no deferred maintenance. The property is a 3-story Victorian with a lot of space. There are two 3BR apartments, three 2BR and two 1BR units. Ample parking. This was the very first building in the state to complete Efficiency Maine's "Multi Unit Efficiency Program." We added a brand new heating system and freshly paved driveway and parking lot in 2021.
It's very rare that you find a 7 unit that would make a great "owner occupied" situation. Here you have a choice of two 3-bedroom 1,100-1,200 square foot apartments. This is a building that's been updated from every end, and a very nice, safe, well-kept neighborhood. With this building, you can have all your housing expenses paid for, live in an above-average residence and because of the higher value of the building, you'll be accumulating around $1,000 per month in equity just by virtue of making the monthly mortgage payment (assuming 400K mortgage, 5%, 20 years)
- Great residential neighborhood / amazing building. A true "keeper"
- 7 units: two extra large 3BR apartments, three 2BR, two 1BR
- New boiler, roof, windows, heating system, parking lot, vinyl, paint...List of upgrades & repairs
- ALL fire code compliant
- Owner occupied option: Live in 3BR, all housing expenses paid, earn $2,183 per month before financing
- Sample bank financing: $2,036 MO based on 25% down, 20 year, 4.5% interest. (typical investment prop terms)
- PRICE: : $485,000