455 Main St - Apartments FOR SALE


South Berwick, ME 03908
$1,600,000 USD
603-431-1111
455 Main St, South Berwick, ME for Sale
$1,600,000 USD
Apartments - FOR SALE
1/28
null | Request Cap Rate

455 Main St
South Berwick, ME 03908


OVERVIEW

The advertised price is for the 7 unit individually. See MLS# 1619194 for the packaged pricing. Two buildings with 10 units and 26 beds across two adjacent parcels in highly desirable South Berwick. Undervalued for the bed count, offering a potential cap rate exceeding 13.16%. There is a third building that can be rebuilt for a quadplex or townhouse condos, for additional value add potential. The first building is an elegant septa(7) decker with all 3 bedrooms each, making it the perfect building for condo conversions. Tour through the units and enjoy the stunning upgrades throughout. Units are all spacious with beautiful hardwood floors and tile flooring throughout, paired with modern touches like granite or quartz countertops, stainless steel appliances, and bright white kitchen cabinets. Each unit also features in-unit washer/dryers, stylish tile backsplashes in bathrooms and kitchens, and access to a back porch deck for outdoor relaxation in the spring time. The second building is a mixed-use triplex with approximately 4,000 square feet, featuring a spacious ground-floor commercial space with large bay windows, ideal for retail or office use, and two large upstairs apartments. The units offer plenty of character with beautiful tin ceilings and hardwood floors. The location is ideal, situated close to town and within a short distance of amenities such as schools, restaurants, and grocery stores. Vaughan Woods State Park and the Naval Shipyard are nearby. It's conveniently less than an hour from Portland, just over an hour from Boston, and 25 minutes from Portsmouth. Offers for both properties as a package will take precedence. Delayed private showings begin on Saturday April 19, 2025 and Monday April 21.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$223 USD /SF

# OF UNITS

7

PRICE/UNIT

$228,571

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

B1

APN/PARCEL ID

SBER-300170

ASK ABOUT THIS PROPERTY

Andy YauRe/Max ShorelineMore Info
603-431-1111

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Andy YauRe/Max ShorelineMore Info
603-431-1111

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.