Property Description

Exceptional opportunity to acquire a fully occupied five-unit multifamily property in an established residential neighborhood in Biddeford. The property features four 1-bedroom, 1 bathroom apartments and one spacious 2 bedroom, 1 bathroom apartment occupying the entire third floor. All units are currently occupied, providing immediate rental income with below-market rental upside for future ownership.The building offers a mix of updated and unrenovated units, creating opportunities for future improvements as apartments turn over. Tenants pay their own electricity, while heat and hot water are included. Off-street parking, expansive rear decks, and established raised garden beds add practical and appealing resident amenities.Located directly across from Hannaford, the property provides convenient access to groceries and everyday essentials. Downtown Biddeford's restaurants, breweries, shops, parks, and growing business district are also just minutes away, along with major commuter routes.Whether expanding an existing portfolio or purchasing a first multifamily investment, this property offers established occupancy, immediate income, and the opportunity to increase returns over time as units turn over and rents are brought closer to market.

Property Features