Turnkey Investment Property in
11 King Street Biddeford, ME 04005
For Sale
$899,900
MULTI_FAMILY - Biddeford, ME
Property Size3,853 SF
Lot Size0.09 Acres
Price / SF$233.56
Days on Market104
Property Features for 11 King Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MSRD2
Bathrooms
5
Rooms
Basement, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4
Parking features
Off Street
Basement
Unfinished, Full
Standard status
Active
Size
3,853 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8897
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Oil, Baseboard, Zoned
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
5
Flooring type
Carpet, Vinyl
Building materials
Wood Frame, Clapboard
Roof type
Fiberglass, Composition
Listing Agency:
Kre Brokerage Group
(207) 781-2958
Listed By:
Danielle Lape
(207) 730-2476
Added: Apr 15
Changed: Jul 7
Last Checked: Jul 27 at 10:06AM
MLS# 1640594
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 is a turnkey, five-unit investment property that is 100% leased with a stable rental history. The property is located just minutes from the revitalized downtown area and a newly renovated mill building, near restaurants and bars. The property has undergone updates in recent years. The lot size is 0.09 acres. The property size is 3,853 square feet. The zoning is MSRD2.
Key Highlights
- 5‑unit investment property built in 1920
- 100% leased with stable rental history
- Public water and public sewer
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 | $114.2k | $29.64 |
| − Vacancy | −$5.9k | −$1.54 |
| EGI | $108.3k | $28.10 |
| − OpEx | −$48.7k | −$12.64 |
| NOI | $59.5k | $15.45 |
3,853 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$850.6K
$744.3K – $992.4K
NOI $59,545 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,497 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit, fully leased investment property near downtown Biddeford.
Where is this apartment building located?
The property is located at 11 King Street Biddeford, ME.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 5‑unit investment property built in 1920; 100% leased with stable rental history; Public water and public sewer
