Incredible opportunity to secure your future as an area landlord with 45 residential units and 6 commercial units between Augusta, Gardiner, Hallowell, Chelsea, and Edgecomb. Plenty of existing cash flow to start with almost no vacancies currently. Property management in place. This portfolio has huge cash flow growth potential with many rents below market. See attachments for the property details, recent upgrades, and property nuances / specifics. 'Interior Information' in listing is incomplete, please see attachments for full details, disclosures, income/expenses.
Closed
$2,900,000
75 Water Street, Hallowell, ME 04347
40beds
45,505sqft
Multi Family
Built in 1860
-- sqft lot
$2,971,500 Zestimate®
$64/sqft
$1,357 Estimated rent
Home value
$2,971,500
$2.26M - $3.89M
$1,357/mo
Zestimate® history
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$1,357/mo
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$14,725/mo
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Est. payment
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List your homeWhat's special
Zillow last checked: 7 hours ago
Listing updated: January 18, 2025 at 07:10pm
Listed by:
AllMaineHomes, LLC
Bought with:
Spectrum Real Estate
Source: Maine Listings,MLS#: 1598564
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 40
- Bathrooms: 40
- Full bathrooms: 31
- 1/2 bathrooms: 9
Heating
- Baseboard, Direct Vent Furnace, Direct Vent Heater, Forced Air, Heat Pump, Hot Water, Zoned, Radiator
Cooling
- Heat Pump
Features
- Flooring: Carpet, Concrete, Laminate, Tile, Vinyl, Wood
- Basement: Bulkhead,Exterior Entry,Interior Entry,Dirt Floor,Walk-Out Access,Crawl Space,Daylight,Full,Partial,Unfinished
Interior area
- Total structure area: 45,505
- Total interior livable area: 45,505 sqft
- Finished area above ground: 45,505
- Finished area below ground: 0
Property
Parking
- Total spaces: 8
- Parking features: Common, Gravel, Paved, 21+ Spaces, Off Street, On Street, Detached
- Garage spaces: 8
- Has uncovered spaces: Yes
Features
- Levels: Multi/Split
- Patio & porch: Deck, Patio, Porch
- Body of water: Kennebec River
Lot
- Size: 5.47 Acres
- Features: Business District, City Lot, Near Shopping, Corner Lot, Level, Sidewalks
Details
- Additional structures: Barn(s)
- Parcel number: HALLM005L153
- Zoning: Downtown
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Cape Cod,Colonial,Farmhouse,Other,Ranch
- Property subtype: Multi Family
Materials
- Wood Frame, Brick, Clapboard, Shingle Siding, Vinyl Siding, Wood Siding
- Foundation: Block, Stone, Granite, Pillar/Post/Pier, Slab, Brick/Mortar
- Roof: Flat,Membrane,Metal,Pitched,Shingle,Slate
Condition
- Year built: 1860
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Private Sewer, Public Sewer, Septic Tank
- Water: Private, Public, Well
- Utilities for property: Utilities On
Community & neighborhood
Location
- Region: Hallowell
Other
Other facts
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 1/13/2025 | Pending sale | $4,801,500$106/sqft |
Source:  Maine Listings #1598564 Report a problem | ||
| 1/13/2025 | Listed for sale | $4,801,500+65.6%$106/sqft |
Source: Maine Listings #1598564 Report a problem | ||
| 1/9/2025 | Sold | $2,900,000-39.6%$64/sqft |
Source: Maine Listings #1598564 Report a problem | ||
| 8/27/2024 | Contingent | $4,801,500$106/sqft |
Source: Maine Listings #1598564 Report a problem | ||
| 7/30/2024 | Listed for sale | $4,801,500$106/sqft |
Source: Maine Listings #1598564 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,940 +18.7% | $198,000 +37.5% |
| 2023 | $3,319 +3.8% | $144,000 |
| 2022 | $3,197 +4.2% | $144,000 |
Find assessor info on the county website
Neighborhood: 04347
Nearby schools
GreatSchools rating
- 6/10Hall-Dale Elementary SchoolGrades: PK-4Distance: 0.7 mi
- 7/10Hall-Dale Middle and High SchoolGrades: 5-12Distance: 1.5 mi
- Maine
- Kennebec County
- Hallowell
- 04347
- 75 Water Street