75 Water Street, Hallowell, ME 04347

$2,900,000

Property Type: Multi-Family Baths: 40 Square Footage: 45,505 Lot Size (sq. ft.): 238,273 Status: Closed

Current Price: $2,900,000 List Date: 7/30/2024 Last Modified: 1/19/2025

Description

Incredible opportunity to secure your future as an area landlord with 45 residential units and 6 commercial units between Augusta, Gardiner, Hallowell, Chelsea, and Edgecomb. Plenty of existing cash flow to start with almost no vacancies currently. Property management in place. This portfolio has huge cash flow growth potential with many rents below market. See attachments for the property details, recent upgrades, and property nuances / specifics. 'Interior Information' in listing is incomplete, please see attachments for full details, disclosures, income/expenses.

Supplements: ********

More Information MLS# 1598564

Location Information

Book: 2838 Leased Land: No Page: 37 Map: 5 Lot: 153 Zoning Overlay: Unknown Association: No Street #: 75 Street Name: Water Street Type: Street County: Kennebec Town: Hallowell State/Province: ME Zip Code: 04347 Zip +4: 1497 Zoning: Downtown Full Tax Amount $: 46502.02 Tax Year: 2023 Geo Lat: 44.287803 Geo Lon: -69.790119

Property Information

Surveyed: Unknown Seasonal: No Number of Units: 46 Lot Size Acres +/-: 5.47 Total Baths: 40 Total Half Baths: 9 SqFt Finished Above Grade: 45505 SqFt Finished Below Grade: 0 SqFt Source: Public Records Garage: Yes Garage Spaces: 8 Total Full Baths: 31 Year Built: 1860 SqFt Finished Total: 45505 Source of Acreage: Public Records

Site

Corner Lot: 1 Level: 1 Other Site: 1 Sidewalks: 1

Location

Business District: 1 Intown: 1 Near Shopping: 1

Roads

Paved: 1 Public: 1

Water Info

Water Frontage: No Water View: Yes Water Body Name: Kennebec River

Water Body Type

River: 1

Recreational Water

Nearby: 1

Style

Cape Cod: 1 Colonial: 1 Farmhouse: 1 Other: 1 Ranch: 1

Construction

Wood Frame: 1

Other Structures

Barn(s): 1

Levels

Multi-Level: 1

Basement

Bulkhead: 1 Crawl Space: 1 Daylight: 1 Dirt Floor: 1 Full: 1 Partial: 1 Unfinished: 1 Walk-Out Access: 1

Foundation Materials

Block: 1 Brick/Mortar: 1 Granite: 1 Pillar/Post/Pier: 1 Poured Concrete: 1 Slab: 1 Stone: 1

Exterior

Brick: 1 Clapboard: 1 Shingle Siding: 1 Vinyl Siding: 1 Wood Siding: 1

Roof

Flat: 1 Membrane: 1 Metal: 1 Pitched: 1 Shingle: 1 Slate: 1

Heat System

Baseboard: 1 Direct Vent Furnace: 1 Direct Vent Heater: 1 Forced Air: 1 Heat Pump: 1 Hot Water: 1 Radiator: 1 Zoned: 1

Heat Fuel

Electric: 1 Gas Bottled: 1 Gas Natural: 1 Oil: 1 Propane: 1

Income & Expenses

Gross Income: 640000 Operating Expenses: 165000

Cooling

Heat Pump: 1

Floors

Carpet: 1 Concrete: 1 Laminate: 1 Tile: 1 Vinyl: 1 Wood: 1

Units

# of 1 BD Units: 22 # of 2 BD Units: 20 # of 3 BD Units: 4

Parking

21+ Spaces: 1 Off Street: 1 On Street: 1 Paved: 1

Unit 1

Lease: No Level: First Security Deposit: Yes Monthly Rent: 800 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Electric

Circuit Breakers: 1

Unit 2

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 995 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: No Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Unit 3

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 725 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Gas

Bottled: 1 Natural - At Street: 1

Unit 4

Sewer

Private Sewer: 1 Public Sewer: 1 Septic Tank: 1

Unit 5

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 900 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Water

Private: 1 Public: 1 Well: 1

Unit 6

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 744 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 7

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 900 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 8

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1195 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 9

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 850 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 10

Lease: No Level: First Security Deposit: No Monthly Rent: 1200 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 11

Lease: Yes Level: Second Security Deposit: No Monthly Rent: 900 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 12

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 875 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 13

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 3600 # Full Baths: 1 # of Rooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 14

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1564.28 # Full Baths: 1 # of Rooms: 6 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 15

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1100 # Full Baths: 1 # of Rooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: No Refrigerator: No Sewer: Yes Water: Yes

Unit 16

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1095 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 17

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 900 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 18

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 900 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Driveway

Common: 1 Gravel: 1 Paved: 1

Unit 19

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1195 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 20

Lease: No Level: First Security Deposit: Yes Monthly Rent: 855 # Full Baths: 1 # of Rooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 21

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 925 # Full Baths: 1 # Half Baths: 9 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 22

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1200 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 23

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 975 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 24

Lease: No Level: First Security Deposit: No Monthly Rent: 1500 # Full Baths: 2 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 25

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1295 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 26

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 950 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 27

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 895 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 28

Lease: No Level: First Security Deposit: Yes Monthly Rent: 750 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 29

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1095 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 30

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 925 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: No Dedicated Water Heater: Yes Electric: No Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Basement Entry

Bulkhead: 1 Exterior Only: 1 Interior: 1

Water Heater

Electric: 1

Patio and Porch Features

Deck: 1 Patio: 1 Porch: 1

Vehicle Storage

4+ Car: 1 Detached: 1

Contract Information

Status: Closed Original List Price: 4801500 Sold Price: $2,900,000 Current Price: $2,900,000

Status Change Info

Pending Date: 2024-08-28 Closed Date: 2025-01-09 Closed Price: 2900000

Property Features

Site: Corner Lot; Level; Other Site; Sidewalks Location: Business District; Intown; Near Shopping Roads: Paved; Public Water Body Type: River Recreational Water: Nearby Style: Cape Cod; Colonial; Farmhouse; Other; Ranch Levels: Multi-Level Construction: Wood Frame Other Structures: Barn(s) Basement: Bulkhead; Crawl Space; Daylight; Dirt Floor; Full; Partial; Unfinished; Walk-Out Access Basement Entry: Bulkhead; Exterior Only; Interior Foundation Materials: Block; Brick/Mortar; Granite; Pillar/Post/Pier; Poured Concrete; Slab; Stone Exterior: Brick; Clapboard; Shingle Siding; Vinyl Siding; Wood Siding Roof: Flat; Membrane; Metal; Pitched; Shingle; Slate Heat System: Baseboard; Direct Vent Furnace; Direct Vent Heater; Forced Air; Heat Pump; Hot Water; Radiator; Zoned Heat Fuel: Gas Bottled; Gas Natural; Oil; Propane Water Heater: Electric Cooling: Heat Pump Floors: Carpet; Concrete; Laminate; Tile; Vinyl; Wood Patio and Porch Features: Deck; Patio; Porch Driveway: Common; Gravel; Paved Parking: 21+ Spaces; Off Street; On Street; Paved Vehicle Storage: 4+ Car; Detached Electric: Circuit Breakers Gas: Bottled; Natural - At Street Sewer: Private Sewer; Public Sewer; Septic Tank Water: Private; Public; Well

Documents

Property List ›

Income & Expenses ›

Augusta - 18-20 Crosby St Docs ›

Augusta - 41 State St Docs ›

Augusta - 84 Mt Vernon Ave Docs ›

Augusta - 90 Mt Vernon Ave Docs ›

Chelsea - 231 Togus Rd Docs ›

Edgecomb - 7 Englebrekt Rd Docs ›

Gardiner - 58 Winter St Docs ›

Gardiner - 64 Winter St Docs ›

Gardiner - 243-247 Water St Docs ›

Hallowell - 33-35 Water St Docs ›

Hallowell - 75 Water St Docs ›

Hallowell - 104, 106, 108 Water St Docs ›

Hallowell - 138-140 Second St Docs ›

Hallowell - 335 Water St Docs ›

Hallowell - Front St Docs ›

Listing Office: AllMaineHomes, LLC

IDX

Last Updated: January - 19 - 2025

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. Copyright ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.

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