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About the Listing 3437 - 023643
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.
Listing Highlights
Status
Active
Days on Site
11
Property Type
Multi-Family
MLS ®
1649465
Year Built
1858
Total Square Footage
6,700
Lot/Acreage
0.34
County
Waldo
Interior Details
- Bedrooms: 0
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating: Hot Water,Direct Vent Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 6700
- Below Ground Sq Ft: 0
- Basement: Interior,Walk-Out Access,Partial,Bulkhead,Exterior Only
- Other:
- Water: Public
Exterior Details
- Lot Description: Open,Level,Intown
- Garage Capacity: N/A
- Zoning: R 10
- Roof: Metal
- Others:
- Sewer: Public Sewer
- Parking Features: 5 - 10 Spaces,Common
Financial Details
- Tax Amount: $6,552
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
183-185 Main St Belfast, ME 04915
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