85 Union Street
Property Description
Exceptional multifamily investment opportunity in the heart of Rockland. 85 Union Street is an 11-unit apartment building comprised of seven one-bedroom units and four two-bedroom units, ideally situated just moments from downtown Rockland's thriving waterfront, restaurants, retail destinations, and employment centers. The property features attractive, well-maintained renovated units with numerous updates, offering investors a stable asset in one of Midcoast Maine's strongest and most desirable rental markets. Current rents provide the opportunity for future growth, allowing investors to unlock additional value through strategic rent increases while benefiting from reliable in-place cash flow. Located in a highly walkable neighborhood with strong tenant demand, 85 Union Street offers an appealing combination of location, quality, and upside potential. The property's proximity to downtown amenities, healthcare services, and major employers continues to support long-term occupancy and rental growth. 85 Union Street is being offered as part of a larger three-building, 27-unit Rockland multifamily portfolio, with all properties located in close proximity to one another. Investors have the opportunity to acquire an individual asset or pursue additional scale through the portfolio offering. A rare opportunity to acquire a well-positioned multifamily property in a supply-constrained market with a desirable unit mix, immediate income, and long-term upside potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,500,020 |
| No. of Units: | 11 |
| Year Built: | 1880 |
| Lot Size: | 11,820.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $136,365 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 11 |
ID: 3yd-MREISME-1667188
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