183-185 Main Street Belfast, ME

$779,999
Baths 8
Square Footage 6,700
Acres 0.34
Photo of 183-185 Main Street Belfast ME 04915




Description

Welcome to 183-185 Main St, a compelling opportunity to acquire a two-building multifamily property located in the heart of downtown Belfast. The property totals approximately 6,700± square feet and is positioned directly on Main Street, offering walkable access to the waterfront, restaurants, shops, and local amenities. Per municipal records, the property is assessed as a four (4) unit multifamily. The property has been operated as an eight (8) unit residential rental for approximately 20 years, consisting of seven (7) one-bedroom units and one (1) two-bedroom unit. Buyer to perform all due diligence regarding unit count, zoning, fire/life safety, and permitted use. Current in-place monthly income is approximately $6,850, with one unit currently owner-occupied. Market rents support approximately $1,100/month for one-bedroom units and $1,400/month for the two-bedroom unit, including the owner-occupied unit. Upon lease-up and stabilization, the property supports an estimated additional $3,900/month, for a total stabilized monthly income of approximately $10,750±, offering clear upside through rent optimization. The offering includes two separate buildings on one parcel, providing flexibility for ownership, management, and future improvements. Strong downtown rental demand, Main Street frontage, and proximity to Route 1 contribute to long-term investment appeal. This property is well-suited for investors seeking a stable downtown asset with in-place income and identifiable upside. Property offered as-is.


Listed by Dream Home Realty LLC, Zachariah Oja 207-300-4663

Details

MLS 1649465
Status Active
Price $779,999
DOM 51 days
Type Multi-Family
Style Colonial
Baths 8 full baths
Square Feet 6,700 sqft
Lot Size 0.34 acres
Year Built 1858
Taxes Paid $6,552

Lot & Building Features

Cooling None
Tax Year 2025
Taxes Paid $6,552

Room Details

Basement Description Exterior Only, Partial, Bulkhead, Walk-Out Access, Interior

Unit Features

Unit 1 Full Baths 2
Unit 1 of Bedrooms 3
Unit 2 Full Baths 2
Unit 2 of Bedrooms 3
Unit 2 of Rooms 3
Unit 3 Full Baths 2
Unit 3 of Bedrooms 3
Unit 4 Full Baths 2
Unit 4 of Bedrooms 3
Unit 4 of Rooms 5

Map

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Financing

$
20%
0.84000107692446%
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI

Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.


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