72-74 Third Bangor, ME 04401
West Bangor NeighborhoodEstimated payment $7,411/month
Highlights
- Wood Flooring
- No HOA
- Baseboard Heating
- 3 Fireplaces
- Cooling Available
- 5-minute walk to Second Street Park
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,080
Year Built
- Built in 1880
Lot Details
- 9,148 Sq Ft Lot
Home Design
- Shingle Roof
- Tar and Gravel Roof
- Fiberglass Roof
Interior Spaces
- 8 Full Bathrooms
- 3-Story Property
- 3 Fireplaces
- Exterior Basement Entry
Flooring
- Wood
- Tile
- Vinyl
Utilities
- Cooling Available
- Heat Pump System
- Baseboard Heating
- Hot Water Heating System
Listing and Financial Details
- Tax Lot 209
- Assessor Parcel Number 72-74ThirdStreetBangor04401
Community Details
Overview
- No Home Owners Association
- 8 Units
Building Details
- Operating Expense $26,864
- Gross Income $137,340
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| 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 |
|---|---|---|---|---|
| 2024 | $8,299 | $447,400 | $18,800 | $428,600 |
| 2023 | $7,470 | $390,100 | $18,800 | $371,300 |
| 2022 | $7,438 | $364,600 | $18,800 | $345,800 |
| 2021 | $7,520 | $337,200 | $17,500 | $319,700 |
| 2020 | $7,269 | $313,300 | $16,600 | $296,700 |
| 2019 | $7,130 | $310,000 | $16,600 | $293,400 |
| 2018 | $6,717 | $292,700 | $16,200 | $276,500 |
| 2017 | $6,197 | $271,600 | $14,800 | $256,800 |
| 2016 | $6,269 | $278,600 | $14,800 | $263,800 |
| 2015 | $5,953 | $271,200 | $14,800 | $256,400 |
| 2014 | $5,821 | $267,000 | $14,800 | $252,200 |
| 2013 | $5,129 | $246,600 | $14,300 | $232,300 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/02/2025 12/02/25 | For Sale | $1,289,900 | -- | $104 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | -- | -- | |
| Warranty Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $919,200 | Stand Alone Refi Refinance Of Original Loan | |
| Closed | $919,200 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $275,000 | Commercial |
Source: Maine Listings
MLS Number: 1644615
APN: BANG-000034-000000-000209
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