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Ed Gardner

ed@gardnerregroup.com +1(207) 415-4493

Listed by Troy Williams Keller Williams Coastal and Lakes & Mountains Realty

$ 1,350,000

Est. payment -/mo

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New

7 Mill ST Sanford, ME 04083

10 Baths

7,057 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,057 sqft

Price per Sqft $191

MLS Listing ID 1681112

Full Baths 10

HOA Y/N No

Year Built 1864

Tax Year 2025

Lot Size 0.660 Acres

Acres 0.66

Source Maine Listings

Land Area 7057

Property Description

Rare multi-family portfolio opportunity in Springvale, Maine! Presenting a fully renovated five-unit residential complex (5plex) offered as a turnkey investment, package sale, and ideal 1031 exchange target in York County, Southern Maine. Encompassing over seven thousand square feet of newly redeveloped apartment building space with zero deferred maintenance and zero CapEx required, this rare multi family asset combines immediate cash flow and pro forma strength with massive cost segregation potential. Nearly Finalized condo conversion master documentation and individual unit floor plans establish a pre-mapped exit strategy, allowing an investor to operate the entire complex as a stabilized multi-family rental portfolio today or execute a bulk condo or piecemeal retail unit sell-off down the road. Driven by a tight Southern Maine rental market with historically low vacancy rates, this asset delivers an attractive pro forma cap rate over seven based on conservative average area rents. The property features five distinct floor plans that eliminate internal unit competition and protect aggregate portfolio occupancy. Layouts in this fully renovated multi-family include a sprawling single-level end residence with a private deck, a ground-floor suite with dual home office bonus rooms, a premier riverfront waterfront flagship suite, a sunlit upper residence with soaring vaulted ceilings, and a showcase two-story waterfront loft. Operational overhead will remain exceptionally low with brand-new mechanicals and separately metered utilities, as tenants are individually metered for electric and dedicated propane heat, leaving landlord coverage limited to public water and common grounds. Security System hardwired and cameras installed. Conveniently situated steps from Meeting Grounds Cafe, Number 3 Pond, and Springvale Park in Sanford, this turnkey Maine investment property represents a low-overhead, high-performing asset in a prime Southern Maine location.

Location

State ME

County York

Zoning Urban

Body of Water Mousam River

Rooms

Basement Exterior Entry, Walk-Out Access, Full

Interior

Interior Features 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Bathtub, Shower, Storage, Walk-In Closet(s), Primary Bedroom w/Bath

Heating Propane, Baseboard

Cooling None

Flooring Carpet, Vinyl

Furnishings Unfurnished

Fireplace No

Laundry Main Level

Exterior

Parking Features Gravel, 11 - 20 Spaces, Assigned, Off Street

View Trees/Woods

Roof Type Shingle

Porch Deck, Porch

Garage No

Building

Lot Description Intown, Near Shopping, Level

Story 3

Foundation Block, Poured Concrete

Water Public

Architectural Style Colonial, Garden

Level or Stories 3

Others

Tax ID 7MillStreetSanfordMaine04083

Security Features Fire System,Security System

Virtual Tour https://view.ricoh360.com/ff18ca63-8e35-44d0-a457-81fa3f877975/be53459f-55cf-45cb-99c6-70d1e12450e5?floorplans=false&thumbnails=false

GET MORE INFORMATION

+1(207) 427-3637

admin@gardnerregroup.com

511 Congress St. STE 101, Portland, ME 04101

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