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72-74 3rd Street 72 3rd St 8 Unit Apartment Building $1,754,664 CAD ($219,333 CAD/Unit) Bangor, ME 04401
Investment Highlights
- new plumbing throughout
- full roof system replacement in 2019
- complete electrical overhaul with upgraded service entrance
Executive Summary
A rare and impressive opportunity to own an 8-unit multi-family in the historic heart of Bangor, offering strong upside for either an investor or future owner-occupant. This stately brick property features a well-balanced unit mix — five 1-bedroom units, one 2-bedroom unit, and two expansive 3-bedroom penthouse-style apartments — providing excellent versatility and strong market demand across multiple rental demographics. Inside, the building showcases a thoughtful combination of preserved period details and modern enhancements. Original woodwork and architectural character remain intact, complemented by beautifully updated interiors. Each unit features granite-appointed kitchens with stainless-steel appliances, custom-tiled baths with quality finishes, solid oak flooring, and newer windows, creating a warm and refined living environment that sets the building apart from typical rental stock. Behind the scenes, all major building systems have been responsibly upgraded — including new plumbing throughout, a complete electrical overhaul with upgraded service entrance, and a full roof system replacement in 2019. Additionally, extensive repointing of the brick exterior enhances structural longevity and curb appeal. The property also offers a generous off-street parking area to the rear of the building, accommodating all units — a significant advantage in an in-town location. With 100% occupancy, long-term responsible tenants, and a very strong rental history, this building represents a stable and turnkey addition to any real estate portfolio. Its proximity to downtown Bangor provides walkable access to shops, restaurants, entertainment, public transportation, and employment centers — supporting ongoing tenant retention and future rental rate potential. This property truly delivers the best of both worlds: architectural charm and durability, coupled with modern amenities and secure income performance. Rent roll and financials available upon request.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,754,664 CAD | Building Class | C |
| Price Per Unit | $219,333 CAD | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 4,992 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1880/2019 |
| Apartment Style | Low-Rise | ||
| Zoning | URD2 - Urban Residence 2 | ||
| Price | $1,754,664 CAD |
| Price Per Unit | $219,333 CAD |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 4,992 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1880/2019 |
| Zoning | URD2 - Urban Residence 2 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | BANG-000034-000000-000209 | Improvements Assessment | $585,309 CAD (2024) |
| Land Assessment | $25,674 CAD (2024) | Total Assessment | $610,983 CAD (2024) |
Property Taxes
Parcel Number
BANG-000034-000000-000209
Land Assessment
$25,674 CAD (2024)
Improvements Assessment
$585,309 CAD (2024)
Total Assessment
$610,983 CAD (2024)
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72-74 3rd Street | 72 3rd St
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