Triplex with Flexible Rental
21 Milliken Street Old Orchard Beach, ME 04064
21 Milliken Street, Old Orchard Beach, ME, 04064
$989,000
For Sale
$989,000
MULTI_FAMILY - Cottage, Ranch - Old Orchard Beach, ME
Property Size2,288 SF
Lot Size0.12 Acres
Price / SF$432.26
Days on Market18
Property Features for 21 Milliken Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- DD-2
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 3, Bathroom 2
- Parking features
- Off Street
- Basement
- Crawl Space
- Standard status
- Active
- Size
- 2,288 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 4755
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Baseboard, Oil
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1952
- Number of units
- 3
- Flooring type
- Tile, Laminate, Carpet
- Building materials
- Wood Frame, Wood Siding
- Roof type
- Shingle
- Architectural style
- Ranch, Cottage
Listing agency
Waypoint Brokers Collective
(207) 804-2012
Listed by
Monica Dambach
(207) 749-4170
Added: Jul 5 Updated: Jul 12 at 2:34AM Checked: Jul 22 at 11:06PM
MLS# 1666064
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.
Investment Insights
Based on property information with market context.
This for-sale triplex at 21 Milliken Street includes three separate units that have been inspected by the Town, giving prospective buyers added clarity on the property. The offering is positioned for flexible rental use, supporting short-term, mid-term, or long-term occupancy options. The property is listed under zoning DD-2, and the site totals 0.12 acres with 2,288 square feet of building area.
Located just off Old Orchard Street in Old Orchard Beach, the property is approximately a quarter mile from the beach area, pier, train station, restaurants, shops, and downtown. Based on the information provided, guests and tenants can reach many of the area’s core attractions on foot, without needing a car.
For investors or operators seeking a single asset with multiple independent units, this triplex offers an adaptable approach to rental strategy while keeping day-to-day access aligned with a high-activity seasonal market. The Town inspection of all three units helps streamline diligence, and the close proximity to key walkable destinations can support a range of tenant and guest preferences depending on the rental term chosen.
Located just off Old Orchard Street in Old Orchard Beach, the property is approximately a quarter mile from the beach area, pier, train station, restaurants, shops, and downtown. Based on the information provided, guests and tenants can reach many of the area’s core attractions on foot, without needing a car.
For investors or operators seeking a single asset with multiple independent units, this triplex offers an adaptable approach to rental strategy while keeping day-to-day access aligned with a high-activity seasonal market. The Town inspection of all three units helps streamline diligence, and the close proximity to key walkable destinations can support a range of tenant and guest preferences depending on the rental term chosen.
Key Highlights
- Triplex built in 1952 with ranch/cottage architectural style
- Public utilities: public water and public sewer
- Roof is shingle; exterior includes wood frame with wood siding
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 | $58.2k | $25.44 |
| − Vacancy | −$2.9k | −$1.26 |
| EGI | $55.3k | $24.18 |
| − OpEx | −$16.6k | −$7.25 |
| NOI | $38.7k | $16.93 |
2,288 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$553.3K
$484.2K – $645.5K
NOI $38,732 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$505.1K
$442.0K – $589.3K
NOI $35,359 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$725.3K
$634.6K – $846.2K
NOI $50,770 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
JK Rentals
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Town-inspected triplex at 21 Milliken Street offering adaptable short-, mid-, or long-term rental setups near Old Orchard Beach.
Where is this triplex located?
The property is located at 21 Milliken Street Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Triplex built in 1952 with ranch/cottage architectural style; Public utilities: public water and public sewer; Roof is shingle; exterior includes wood frame with wood siding
