Freese's Buildings 2 Multifamily Properties Offered at $11,898,530 CAD in Bangor, ME

Freese’s Building and Freese’s Assisted Living are connected
properties via party wall sitting on a combined 0.47 acres of land in
Downtown Bangor. The Heights property is a garden style complex
three minutes from Downtown Bangor sitting on just over 2 acres of
land. This offering is a rare opportunity for investors to enter the
Bangor multi-family market with sizable scale and immediate
potential for rent growth. The portfolio consists of 73 urban mid-rise
units and 32 garden style units totaling 105 units, 74 of which have
rental subsidy vouchers..
The Freese’s properties are located at 10 Water Street and 28
Merchants Plaza. They are abutting the main bus station servicing
the downtown area and a large public parking garage. The buildings
consists of several first floor retail units and two (2) separately owned
condo units occupied and owned by the Children’s Museum and The
Lofts.
The Heights is located at 44 Boyd Street and sits just above the
Bangor River. This property includes three residential buildings
sitting on a cul de sac and one maintenance building that provides a
laundry room for the tenants. The property includes 44 parking
spaces.