323 Cumberland ST, Rumford, ME 04276
323 Cumberland ST, Rumford, ME 04276
323 Cumberland ST, Rumford, ME 04276
323 Cumberland ST, Rumford, ME 04276
323 Cumberland ST, Rumford, ME 04276
323 Cumberland ST, Rumford, ME 04276
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Luke Morris

Luke Morris

+1(603) 401-5858
Listed by Tyler Stewart Elevate Maine Realty
$ 400,000
Est. payment | /mo

8 Baths

6,300 SqFt

Save
$ 400,000
Est. payment | /mo
Save

8 Baths

6,300 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,300 sqft

Price per Sqft $63

MLS Listing ID 1652952

Full Baths 8

HOA Y/N No

Year Built 1920

Tax Year 2025

Lot Size 6,098 Sqft

Acres 0.14

Source Maine Listings

Land Area 6300

Property Description

8-unit multifamily investment delivering strong in-place income and substantial value-add potential. Currently operating at a 10.6% cap rate, the property includes 2 vacant units, offering immediate opportunity to renovate and lease at market rents with a projected 16%+ stabilized cap. The asset features a versatile unit mix of (1) 4-bedroom, (3) 3-bedroom, and (4) 1-bedroom units, appealing to a broad tenant base. Separate electric and a solid structure support efficient operations and long-term durability. Several long-term tenants provide consistent cash flow while improvements are executed. Well located just minutes from downtown and major employers, this is a compelling high-yield opportunity with clear upside through unit upgrades and rent optimization.

Location

State ME

County Oxford

Zoning Unk

Direction GPS Friendly

Rooms

Basement Interior Entry, Full, Unfinished

Interior

Heating Oil, Baseboard, Hot Water

Cooling Window Unit(s)

Flooring Tile, Vinyl

Exterior

Parking Features Common, 1 - 4 Spaces

Garage Spaces 1.0

Roof Type Flat

Garage Yes

Building

Lot Description Intown, Level, Sidewalks

Entry Level Multi-Level

Water Public

Architectural Style Other

Others

Tax ID RUMF-000113-000000-000254

Maine MLS (MREIS) IDX

Nearby Locations

Luke Morris

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(603) 401-5858

[email protected]

P.O. Box 951, Wells, Maine 04090, USA

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323 Cumberland ST