NOT LISTED FOR SALE

27 Eastern Ave Augusta, ME 04330

Augusta Area
-- Bed
1059 Baths
5,478 Sq Ft
9,583 Sq Ft Lot

Sale Details

Date Sold: November 20, 2024

Last sale price $647,500 $118 Per Sq Ft

70 Days on Market

Highlights

  • Wooded Lot
  • Baseboard Heating
  • Carpet
  • No HOA

About This Home

As of November 2024

Well maintained 10-unit apartment building consisting of 6 1-bedrooms and 4 2-bedroom units. Conveniently located in close proximity to the state capital campus. New furnace. Large off-street parking lot. Basement laundry area. Below market rents with significant upside potential. Great investment opportunity with projected 10%+ cap rate.

Last Agent to Sell the Property

Jon Leahy

J T Leahy Real Estate Listed on: 09/03/2024

Last Buyer's Agent

Benjamin Spencer

CORE

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,172

Year Built

  • Built in 1938

Lot Details

  • 9,583 Sq Ft Lot
  • Wooded Lot

Home Design

  • Wood Frame Construction
  • Pitched Roof
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 1,059 Full Bathrooms
  • 5,478 Sq Ft Home
  • Multi-Level Property

Flooring

  • Carpet
  • Vinyl

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Partial Basement
  • Exterior Basement Entry

Parking

  • Gravel Driveway
  • Off-Street Parking

Utilities

  • No Cooling
  • Heating System Uses Oil
  • Baseboard Heating
  • Hot Water Heating System

Listing and Financial Details

  • Tax Lot 34
  • Assessor Parcel Number 27EasternAvenueAugusta04330

Community Details

Overview

  • No Home Owners Association
  • 10 Units

Building Details

  • Operating Expense $35,000
  • Gross Income $110,340

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,172

Year Built

Built in 1938

Lot Details

9,583 Sq Ft Lot

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 0.22
  • Road Surface Type: Paved
  • MLS Status: Closed
  • Directions: Arsenal Street or Stone Street to 27 Eastern Avenue. GPS
  • Above Grade Finished Sq Ft: 5478.0
  • Architectural Style: Multi-Level
  • Garage Yn: No
  • Year Built: 1938
  • Location Information:Leased Land: No
  • Contract Information:List PriceSqFt: 127.78
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 0.22
  • Property Information:Total Baths: 1059.0
  • Property Information:SqFt Finished Above Grade: 5478.0
  • Property Information:Garage: No
  • Water Info:Water Frontage2: No
  • Water Info:Water View2: No
  • Construction:Wood Frame: Yes
  • Basement:Walkout Access: Yes
  • Roof:Shingle: Yes
  • Heat System:Baseboard: Yes
  • Heat System:Hot Water: Yes
  • Heat Fuel:Oil: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Floors:Vinyl: Yes
  • Parking:Off Street: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Basement Entry:Walk-Out: Yes
  • Exterior:Vinyl Siding: Yes
  • Basement:Partial: Yes
  • Property Information:Number of Units: 10
  • Income Expenses Gross Income: 110340.0
  • Income Expenses Operating Expenses: 35000.0
  • Style:Multi-Level: Yes
  • Roof:Pitched: Yes
  • Driveway:Gravel: Yes
  • Site:Wooded: Yes
  • Basement Entry:Exterior Only: Yes
  • Advertising Remarks:Advertising Remarks: Well maintained 10-unit apartment building consisting of 6 1-bedrooms and 4 2-bedroom units. Conveniently located in close proximity to the state capital campus. New furnace. Large off-street parking lot. Basement laundry area. Below market rents with significant upside potential. Great investment opportunity with projected 10%+ cap rate.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Has Basement: Walk-Out Access, Full, Partial, Exterior Only
  • Full Bathrooms: 1059
  • Flooring: Vinyl, Carpet
  • Full Basement: Yes

Exterior Features

  • Lot Features: Wooded, Near Town, Neighborhood
  • Waterfront: No
  • Construction Type: Vinyl Siding, Wood Frame
  • Roof: Pitched, Shingle

Garage/Parking

  • Attached Garage: No
  • Parking Features: 5 - 10 Spaces, Gravel, Off Street

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Hot Water, Baseboard
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Utilities: Utilities On
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 9583.2
  • Parcel #: 27EasternAvenueAugusta04330
  • Zoning: RB1

Multi Family

  • Number Of Units Total: 10
  • Annual Gross Income: 110340.0
  • Annual Operating Expense: 35000.0

Tax Info

  • Tax Annual Amount: 6172.0
  • Tax Lot: 34
  • Tax Year: 2023

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 3, 2024
Closed on
Nov 20, 2024
Sold by
Bought by
Seller's Agent
Jon Leahy
J T Leahy Real Estate
Buyer's Agent
Benjamin Spencer
CORE
List Price
$725,000
Sold Price
$647,500
Premium/Discount to List
-$77,500
-10.69%
Views
8

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$518,000
Outstanding Balance
$508,337
Interest Rate
6.32%
Mortgage Type
Commercial

Purchase Details

Listed on
Jul 6, 2021
Closed on
Dec 17, 2021
Sold by
Bought by
Seller's Agent
Brian Rizzo
Rizzo Mattson
Buyer's Agent
Alexander Matthews
Landing Real Estate
List Price
$495,000
Sold Price
$510,000
Premium/Discount to List
$15,000
3.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.52%
Original Mortgage
$408,000
Interest Rate
2.98%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 17, 2013
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$201,000
Interest Rate
4.14%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 17, 2010
Sold by
Bought by

Purchase Details

Closed on
Jun 21, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,500
Interest Rate
5.78%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Available
-- None Available
-- --
-- --
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $518,000
Previous Owner $150,000
Previous Owner $408,000
Previous Owner $201,000
Previous Owner $45,000
Previous Owner $201,000
Previous Owner $201,000
Previous Owner $45,000
Closed $296,500
Previous Owner $296,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/20/2024 11/20/24 Sold $647,500 -7.5% $118 / Sq Ft
09/19/2024 09/19/24 Pending -- -- --
09/03/2024 09/03/24 Price Changed $700,000 -3.4% $128 / Sq Ft
09/03/2024 09/03/24 For Sale $725,000 0.0% $132 / Sq Ft
08/01/2024 08/01/24 Pending -- -- --
07/10/2024 07/10/24 For Sale $725,000 +42.2% $132 / Sq Ft
12/20/2021 12/20/21 Sold $510,000 +3.0% $93 / Sq Ft View Prior Sale
07/10/2021 07/10/21 Pending -- -- --
07/06/2021 07/06/21 For Sale $495,000 -- $90 / Sq Ft
Source: Maine Listings

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,559 $268,800 $60,000 $208,800
2024 $6,397 $268,800 $60,000 $208,800
2023 $6,172 $268,800 $60,000 $208,800
2022 $5,892 $268,800 $60,000 $208,800
2021 $5,629 $268,800 $60,000 $208,800
2020 $5,627 $268,700 $60,000 $208,700
2019 $5,635 $268,700 $60,000 $208,700
2018 $5,555 $268,700 $60,000 $208,700
2017 $5,476 $268,700 $60,000 $208,700
2016 $5,318 $268,700 $60,000 $208,700
2015 $5,213 $268,700 $60,000 $208,700
2014 $5,017 $268,700 $60,000 $208,700
Source: Public Records

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Map

Source: Maine Listings

MLS Number: 1596326

Maine Listings
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