Four-Unit Quadplex with Wraparound
New
For Sale
$999,999
105 Union Avenue, Old Orchard Beach, ME 04064
Multi-Family, Old Orchard Beach, ME
Property Size4,016 SF
Lot Size0.25 Acres
Price / SF$249
Days on Market1
Property Features for 105 Union Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 1, Bathroom 2, Basement, Bathroom 4
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Pantry
Basement
Sump Pump, Unfinished, Full
Lot features
Open, Level, Sidewalks, Near Public Beach, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Near Public Transit, Near Railroad
Standard status
Active
Size
4,016 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8667
Utilities
Sewer type
Public Sewer
Heating system
Kerosene, Baseboard, Oil, Electric (Heating), Hot Water(Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
large wrap around front porch
barbecue/outdoor dining/entertaining area
heat pump
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Laminate, Wood, Vinyl
Building materials
Wood Frame, Shingle Siding, Vinyl Siding, Wood Siding
Roof type
Shingle
Architectural style
Colonial, Shingle
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Cristina Eugen
(207) 710-1477
Added: Sep 16
Last Checked: Sep 16 at 3:06AM
MLS# 1680766
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 four-unit quadplex at 105 Union Avenue contains two two-bedroom residences and two three-bedroom residences within 4016 square feet. The property combines a 1900 Colonial and Shingle-style structure with wood-frame construction, stone accents, wood and vinyl siding, and a shingle roof. Two units are housed in an addition completed in 2018, while the original building includes a lower-level residence with period architectural character. Each unit is separately metered, and the property has four individual driveways for tenant parking.
Outdoor features include a wraparound porch and a barbecue, dining, and entertaining area. Heating is provided through a combination of baseboard, hot water, oil, electric, kerosene, and heat pump systems, with heat pump cooling. Public water and public sewer serve the property. The 0.25-acre parcel is near the Atlantic Ocean, with a convenience store within walking distance. R2 zoning applies.
Outdoor features include a wraparound porch and a barbecue, dining, and entertaining area. Heating is provided through a combination of baseboard, hot water, oil, electric, kerosene, and heat pump systems, with heat pump cooling. Public water and public sewer serve the property. The 0.25-acre parcel is near the Atlantic Ocean, with a convenience store within walking distance. R2 zoning applies.
Key Highlights
- Four‑unit property with two two‑bedroom and two three‑bedroom residences
- 4016 square feet on a 0.25‑acre parcel
- Two units located in an addition completed in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,984
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Separately metered residential property with a two-and-three-bedroom unit mix, private driveways, and 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: Four‑unit property with two two‑bedroom and two three‑bedroom residences; 4016 square feet on a 0.25‑acre parcel; Two units located in an addition completed in 2018
