4-Unit Quadplex Near Atlantic
For Sale
$999,999
105 Union Avenue, Old Orchard Beach, ME 04064
Separately metered units offer heat-pump comfort, individual driveways, and shared outdoor entertaining space.
Property Size4,016 SF
Price / SF$249
Days on Market52
Property Features for 105 Union Avenue
General Information
Standard status
Active
Size
4,016 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty
Listed By:
Cristina Eugen
(207) 710-1477
Source:
Greatislandrealty
Added: Sep 16
Changed: Nov 5
Last Checked: Nov 4 at 4:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 4-unit quadplex at 105 Union Avenue includes two 2-bedroom apartments and two 3-bedroom apartments. Each unit is separately metered, and four individual driveways provide dedicated tenant parking. Heat pump systems support year-round comfort, while a wraparound front porch and an outdoor barbecue and dining area add shared amenity space.
The property is in Old Orchard Beach, within minutes of the Atlantic Ocean shoreline and a walkable convenience store. Two units are located in an addition completed in 2018, while the original building includes a lower apartment with turn-of-the-century architectural character. The upper unit in the original structure requires further work, offering an opportunity to complete the existing space.
The property is in Old Orchard Beach, within minutes of the Atlantic Ocean shoreline and a walkable convenience store. Two units are located in an addition completed in 2018, while the original building includes a lower apartment with turn-of-the-century architectural character. The upper unit in the original structure requires further work, offering an opportunity to complete the existing space.
Key Highlights
- 4‑unit quadplex with two 2‑bedroom and two 3‑bedroom apartments
- Separately metered units with heat pump systems
- Four individual driveways provide tenant parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,984
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,359,680
$1.4M
Cap Rate 7%
$971,200
$971.2K
Cap Rate 9%
$755,378
$755.4K
Market Conditions
NOI Build-Up for 4,016 SF
Gross rent
$102.2K $25.44/SF
− Vacancy
−$5.0K −$1.26/SF
EGI
$97.1K $24.18/SF
− OpEx
−$29.1K −$7.25/SF
NOI
$68.0K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,359,680
Cap Rate 7%
$971,200
Cap Rate 9%
$755,378
Alternative Uses
Best Use
Multifamily LT 5
$971.2K
$849.8K – $1.13M
NOI $67,984 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$886.6K
$775.8K – $1.03M
NOI $62,064 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,114 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
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Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Separately metered units offer heat-pump comfort, individual driveways, and shared outdoor entertaining space.
Where is this quadplex located?
The property is located at 105 Union Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 4‑unit quadplex with two 2‑bedroom and two 3‑bedroom apartments; Separately metered units with heat pump systems; Four individual driveways provide tenant parking
