Three-Unit Apartment Building
2 Union Street, Lisbon, ME 04252
New
MULTI_FAMILY - Other - Lisbon, ME
Property size:
2,038 SFLot size:
0.16 AcresPrice / SF:
$179/SF- Added:
- Jun 11, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 13 at 9:06 am
Property Features for 2 Union Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Village
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bathroom 1, Basement
- Patio and Porch features
- Porch
- Pets allowed
- No
- Interior features
- In-Law Apartment, Bathtub, Shower
- Fencing
- Fenced
- Basement
- Unfinished, Sump Pump, Full, Walk-Out Access
- Standard status
- Active
- Size
- 2,038 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 4958
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Oil, Zoned, Hot Water(Heating)
- Water source
- Public
- Water front features
- Stream
Building Details
- Year built
- 1992
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Vinyl, Carpet
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Timothy Dunham (207) 407-9707
Listing office Tim Dunham Realty 643 Lewiston Rd, Topsham, ME (207) 729-7297
Listing date Jun 11, 2026
MLS# 1665831
Listing URL
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 3‑unit apartment building on a 0.16± acre corner lot in the Village area
- Unit mix: first‑floor 2BR/1BA (tenant in place), second‑floor 2BR/1BA (vacant), third‑floor studio/efficiency with full bath (vacant)
- Rebuilt in 1992 with wood‑frame construction and vinyl siding
- Oil hot‑water/baseboard heat with zoned heating and circuit breakers
- Full basement with sump pump; fenced property and porch
- Public water and public sewer; shingle roof and large driveway with many parking spaces
Overview
This three-unit apartment building offers a practical mix of occupied and vacant space. The first-floor unit is a 2-bedroom, 1-bath arrangement currently tenant-occupied. The second-floor 2-bedroom, 1-bath unit is vacant, and the third-floor studio/efficiency with a full bath is also vacant. The property was rebuilt in 1992 and includes vinyl siding, an oil hot-water/baseboard heating system, circuit breakers, and a full basement with a sump pump.
The building sits on a corner lot within the Village area of Lisbon. It is described as a convenient in-town setting near Route 196 and downtown Lisbon Falls. A large driveway with many parking spaces supports resident access.
For buyers, the immediate availability of two units can support several ownership scenarios, including bringing in new tenants, adjusting lease terms, or using the property as an owner-occupant with rental help from the remaining unit(s). The basic residential layout across multiple floors, along with on-site parking and a full basement, supports straightforward operations for a small-scale residential income strategy.
The building sits on a corner lot within the Village area of Lisbon. It is described as a convenient in-town setting near Route 196 and downtown Lisbon Falls. A large driveway with many parking spaces supports resident access.
For buyers, the immediate availability of two units can support several ownership scenarios, including bringing in new tenants, adjusting lease terms, or using the property as an owner-occupant with rental help from the remaining unit(s). The basic residential layout across multiple floors, along with on-site parking and a full basement, supports straightforward operations for a small-scale residential income strategy.
Local Financial Insights For Multifamily LT 5
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 | $29.1k | $14.28 |
| − Vacancy | −$387 | −$0.19 |
| EGI | $28.7k | $14.09 |
| − OpEx | −$8.6k | −$4.23 |
| NOI | $20.1k | $9.86 |
2,038 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$287.2K
$251.3K – $335.0K
NOI $20,101 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$272.8K
$238.7K – $318.3K
NOI $19,098 @ 7.0% cap · market cap 5.23%
Theoretical Best
Warehouse
$3.62M
$3.17M – $4.22M
NOI $253,375 @ 7.0% cap · market cap 69.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Lisbon
- County
- Androscoggin
- State
- Maine
- Longitude
- -70.061604
- Latitude
- 43.997756
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three-unit residential income property with two vacant units and one occupied unit, on a corner lot in the Village area.
Where is this triplex located?
The property is located at 2 Union Street Lisbon, ME.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 3‑unit apartment building on a 0.16± acre corner lot in the Village area; Unit mix: first‑floor 2BR/1BA (tenant in place), second‑floor 2BR/1BA (vacant), third‑floor studio/efficiency with full bath (vacant); Rebuilt in 1992 with wood‑frame construction and vinyl siding
