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A rare opportunity to own a completely transformed income-producing property just minutes from Bangor's vibrant Waterfront Concerts and Hollywood Casino. Formerly an industrial building, this property has been meticulously converted into an upscale, single-level three-unit apartment complex with virtually every major component replaced or upgraded. The extensive renovation includes all new radiant heating, natural gas boiler, plumbing, electrical systems, sewer line, roof, siding, windows, kitchens bath and much more, creating a low-maintenance, simple turnkey investment for years to come without headaches. The thoughtfully designed units offer modern finishes, efficient layouts, and strong tenant appeal. The property consists of: One 1-bedroom unit renting for $950/month One 1-bedroom unit renting for $1,100/month One spacious 2-bedroom, 2-bath unit with in-unit laundry renting for $1,575/month Additional income potential is generated through the on-site coin-operated laundry facility. Tenants pay their own electricity, helping keep operating expenses low. Natural gas runs at a very low cost, averaging around $1,000 a winter and each unit is equipped with its own heat pump! Located just a short distance from Bangor's popular waterfront concerts, restaurants, breweries, and entertainment venues, this property presents excellent potential for continued long-term rental income or future short-term rental/Airbnb opportunities (subject to local regulations). Whether you're an investor seeking strong cash flow, a portfolio addition with significant capital improvements already completed, or someone looking for a unique property with versatile income potential.
Property Type(s):
Multi Family
| Last Updated | 6/16/2026 | Year Built | 1930 |
|---|---|---|---|
| County | Penobscot |
Additional Details
| AIR | Heat Pump |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Water Heater |
| CONSTRUCTION | Frame, Steel Siding |
| HEAT | Heat Pump, Radiant |
| LOT | 0.4 acre(s) |
| LOT DESCRIPTION | Level, Open Lot, Other |
| LOT DIMENSIONS | 0.4 |
| MLS STATUS | Active |
| PARKING | Paved, On Site, Off Street |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Contemporary, Ranch |
| TAXES | 2258 |
| UTILITIES | Natural Gas Available |
| WATER | Public |
Listing provided by NextHome Experience
Listing data is derived in whole or in part from the Maine IDX & is for consumers'' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.© 2026 Maine Real Estate Information System, Inc. All Rights Reserved. 
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IDX data provided by Market Leader, courtesy of Maine Listings.
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