$2,750,000

1 Waterworks Road, Bangor ME, 04401

Built in1875

Property size56,628 sqft

Property typeCommercial

Courtesy of Keller Williams Realty

Overview

Active

Listed Nov 3, 2026

Updated 2 days ago

Prime multi-family investment opportunity along the Penobscot River in Bangor! Historic 1875 brick masonry building redeveloped in 2007 into 35 residential apartments on a 1.67-acre waterfront lot. Features passenger elevator access, full wet sprinkler safety system, on-site parking, and dedicated tenant storage. Operates under the LIHTC program (Section 42) with a 50%/60% AMI unit split and an extended use agreement in place through 2097. Benefits from a specialized City of Bangor Tax Revenue Agreement through April 2036, reimbursing municipal taxes paid over $7,500 for operating expenses. Excellent upside potential for experienced affordable housing operators. Qualified LIHTC buyers required.

Additional information

MLS^® ID: 1686684

Interior Features

Bathrooms: 0
Basement: No

Exterior Features

Lot Size: 1.67 Acres

Listing Contact: 207-754-9311

Listed by Kevin Fletcher with Keller Williams Realty 207-754-9311

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Data is refreshed every 3 hours. Listing last updated at 3:41 AM UTC, 11/4/2026