Apartment Building Portfolio with Three
For Sale
$1,399,000
12 38 61 Harvest Drive, Orrington, ME 04474
COMMERCIAL - Orrington, ME
Property Size5,600 SF
Price / SF$249.82
Days on Market189
Property Features for 12 38 61 Harvest Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
5,600 SF
Building Details
Year built
2020
Listing Agency:
Ellsworth, Maine · Better Homes and Gardens Real Estate
(207) 667-7423
Listed By:
Stacy White
(207) 812-7911
Added: Jan 29
Changed: Aug 1
Last Checked: Aug 6 at 8:06AM
MLS# 1646477
Copyright © 2026 Better Homes and Gardens-The Masiello Group. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment building portfolio includes three fully rented duplexes on Harvest Drive in Orrington, Maine. The property comprises six units, each offering two bedrooms and one bathroom, with efficient heating throughout. Built in 2020, the duplexes are described as exceptionally maintained.
Four of the six units include garages, and the remaining two units have storage sheds. The duplexes are located within a thoughtfully designed subdivision and the ownership includes a 5.85-acre common area, providing additional outdoor space for residents.
The total property size is listed as 5,600 square feet.
Four of the six units include garages, and the remaining two units have storage sheds. The duplexes are located within a thoughtfully designed subdivision and the ownership includes a 5.85-acre common area, providing additional outdoor space for residents.
The total property size is listed as 5,600 square feet.
Key Highlights
- Three fully rented duplexes totaling six units
- Each unit features two bedrooms and one bathroom with efficient heating
- Built in 2020
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.7k | $16.20 |
| − Vacancy | −$4.9k | −$0.87 |
| EGI | $85.8k | $15.33 |
| − OpEx | −$38.6k | −$6.90 |
| NOI | $47.2k | $8.43 |
5,600 SF · lease $16.20/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$674.3K
$590.0K – $786.7K
NOI $47,202 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,605 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 04474, ME
3,812
Population
1,739
Households
2.2
Avg Household Size
47
Median Age
40%
College-Educated
98%
High-School Grad
25.0 sq mi
ZIP Area
152
Density / Sq Mi
$92,583
Median Household Income
$53,571
Median Earnings
$1,072
Median Rent
$239,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three duplexes with six fully rented 2-bedroom units, built in 2020, with garages for four units.
Where is this apartment building located?
The property is located at 12 38 61 Harvest Drive Orrington, ME.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Three fully rented duplexes totaling six units; Each unit features two bedrooms and one bathroom with efficient heating; Built in 2020
