74-76 Court Street, Bangor, ME 04401
Penobscot County
Key Facts
Description
This 16-unit residential apartment building, located in Bangor, Maine, offers a remarkable investment opportunity in a desirable area. Low expenses with a net operating income of $142,000 +/- annually. The property is conveniently situated on a bus route and is within walking distance to downtown Bangor, where residents can enjoy shopping, restaurants, and various amenities. Featuring off-street parking, the building has undergone numerous updates, including upgraded wiring, newer vinyl siding, fresh flooring and paint in all common areas. Additionally, new fire-rated exterior doors were installed, and the front roof was replaced in 2024, ensuring structural integrity and safety. The property consists of 16 total units, with 8 of them equipped with high-output baseboard heaters. Seller has added 2 washers and 2 dryers that tenants can use onsite . Plus new foundation walls*. Many units have also been enhanced with updated kitchenettes and appliances, making them appealing to prospective tenants. The building maintains a low vacancy rate and generates strong cash flow, making it a rare find in the market with 16 units contained within a single structure. Situated in the heart of Penobscot County, Bangor is a vibrant city known for its rich history and cultural significance. The area provides a blend of urban conveniences and natural beauty, featuring a variety of shopping venues, diverse dining options, and ample access to outdoor activities. This strong community atmosphere, along with Bangor's strategic location, positions it as an attractive market for multi-family investments.
Property Information
Property Type
Residential Income
Year Built
1880
Living Area
2,600 sq ft
Lot Size
0.26 acres
Zoning
multi family
MLS® Listing#
1660566
Property Features
Cooling
Heating
Flooring
Basement
Construction
Roof
Utilities
Sewer
Water Source
Financial Details
HOA
None
Annual Taxes
$5,687
Tax year 2025
Affordability Calculator
$320,000
Estimated monthly payment
$8,516/mo
Principal $1,280,000 · Est. interest $1,785,714 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Bangor, ME
- $341,304
- Median Listing Price
- 77
- Median Days on Market
- 1,953
- Median Sq Ft
- $184
- Median Price / Sq Ft
- 166
- Active Listings
- This home’s price is 369% above the area median.
- Its price per sq ft is 234% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Bangor, ME.
Location
Points of Interest in Bangor, ME
Showing the Bangor area map.
Nearby Schools
The Neighborhood Early Childhood Center
School · 0.2 mi away
John Bapst Memorial High School
Secondary · 0.4 mi away
Hilltop School
School · 0.4 mi away
James F. Doughty School
Secondary · 0.6 mi away
All Saints Catholic School
Secondary · 0.6 mi away
Abraham Lincoln School
Elementary · 0.7 mi away
Vine Street School
Elementary · 0.7 mi away
Fairmount School
Elementary · 0.8 mi away
Fourteenth Street School
Elementary · 0.9 mi away
Mary Snow School
Elementary · 1.0 mi away
Bangor Montessori School
Elementary · 1.1 mi away
Brewer Middle School
School · 1.1 mi away
Fruit Street School
School · 1.2 mi away
William S. Cohen School
Secondary · 1.2 mi away
Stillwater Academy
School · 1.5 mi away
All Saints Catholic School
School · 1.6 mi away
Child Development Services
School · 1.8 mi away
Brewer High School
Secondary · 1.8 mi away
Brewer Community School
Elementary · 1.8 mi away
Bangor High School
Secondary · 2.0 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 9 May Street, Bangor, ME | $1,169,000 | — | — | 9,075 |
| 123-127 Franklin Street, Bangor, ME | $1,199,000 | — | — | 13,200 |
| 9 May Street, Bangor, ME | $1,199,000 | — | — | 9,075 |
| 123-127 Franklin Street, Bangor, ME | $1,239,000 | — | — | 13,200 |
| 72-74 Third Street, Bangor, ME | $1,279,900 | — | — | 12,418 |
| 72-74 Third Street, Bangor, ME | $1,279,900 | — | 8 | 12,418 |
