Log In/Sign Up
Your email has been sent.
12 Washington St 6 Unit Apartment Building $2,750,000 ($458,333/Unit) Biddeford, ME 04005
Investment Highlights
- Central Downtown Location
- 100% Leased
- 100% Renovated
- Cash Flow Positive
Executive Summary
Opportunity to own a 100% renovated positive cash-flow generating, 100% leased building in downtown Biddeford. 12 Washington street was “brought down to the studs” and renovated in 2021-2023. It is home to a successful, proven restaurant operating out of the first floor and the basement levels. The second and third floors are premium apartments which are 100% leased.
The restaurant is leasing ~6K of square footage inside of the front half of a 5-year lease. The restaurant business is owned by a third party and has a proven successful track record of income generation.
The second floor contains (2) three bedroom, two bath apartments. The third floor has (3) two-bedroom, 1 bath apartments. All apartments have premium fixtures and designs including: large open space kitchen living spaces, granite countertops, in-unit laundry, stainless steel appliances, walking in closets, large expanse windows, and featuring various combinations of wood, tile and vinyl flooring. Tenants pay for heat, electric and connectivity. Off-street parking is available for tenants across the street from the building.
Infrastructure Upgrades (2021-2023)
• Installed brand new hood, ventilation, and Ansil fire suppression systems for restaurant
• Expanded and brought to code a sprinkler system through 100% of the building
• Converted to natural gas with a new furnace (provides heat for restaurant and hot water for the full building)
• Installed dedicated multi-head “mini-split” systems for each apartment
• Increased electric service to 800A, installed new main and in-unit panels, newly wired throughout building
• Upgraded ALL apartment windows
• Embedded cable and wifi backbone through building so each unit is connectivity ready
• Addressed any structural deficiencies (building was initially built in the 1950’s)
• New buildout for all apartments
• Overhauled restaurant space to create a fully modern footprint and premium food / drink safety platform
This building commands premium rents, is cashflow positive and the renovation is done!
The restaurant is leasing ~6K of square footage inside of the front half of a 5-year lease. The restaurant business is owned by a third party and has a proven successful track record of income generation.
The second floor contains (2) three bedroom, two bath apartments. The third floor has (3) two-bedroom, 1 bath apartments. All apartments have premium fixtures and designs including: large open space kitchen living spaces, granite countertops, in-unit laundry, stainless steel appliances, walking in closets, large expanse windows, and featuring various combinations of wood, tile and vinyl flooring. Tenants pay for heat, electric and connectivity. Off-street parking is available for tenants across the street from the building.
Infrastructure Upgrades (2021-2023)
• Installed brand new hood, ventilation, and Ansil fire suppression systems for restaurant
• Expanded and brought to code a sprinkler system through 100% of the building
• Converted to natural gas with a new furnace (provides heat for restaurant and hot water for the full building)
• Installed dedicated multi-head “mini-split” systems for each apartment
• Increased electric service to 800A, installed new main and in-unit panels, newly wired throughout building
• Upgraded ALL apartment windows
• Embedded cable and wifi backbone through building so each unit is connectivity ready
• Addressed any structural deficiencies (building was initially built in the 1950’s)
• New buildout for all apartments
• Overhauled restaurant space to create a fully modern footprint and premium food / drink safety platform
This building commands premium rents, is cashflow positive and the renovation is done!
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Storage Space
- Washer/Dryer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- On-Site Retail
- Storage Space
- Private Bathroom
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 3+2 | 2 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | BIDD-000038-000000-000350 | Total Assessment | $1,155,600 (2025) |
| Land Assessment | $154,200 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,001,400 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
BIDD-000038-000000-000350
Land Assessment
$154,200 (2025)
Improvements Assessment
$1,001,400 (2025)
Total Assessment
$1,155,600 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
1 of 15
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Contact the Sale Advisor
12 Washington St