Waterville Multifamily Property with
124 College Avenue Waterville, ME 04901
124 College Avenue, Waterville, ME, 04901
$275,000
For Sale
$275,000
MULTI_FAMILY - Other - Waterville, ME
Property Size2,458 SF
Lot Size0.19 Acres
Price / SF$111.88
Days on Market113
Property Features for 124 College Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CC1
- Bathrooms
- 4
- Rooms
- Bathroom 4, Basement, Bathroom 2, Bathroom 3, Bathroom 1
- Patio and Porch features
- Porch
- Pets allowed
- No
- Interior features
- 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 2,458 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3086
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Baseboard, Natural Gas, Zoned
- Water source
- Public
- Water front features
- Stream
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl, Wood, Laminate
- Building materials
- Wood Frame, Clapboard, Wood Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Coldwell Banker Plourde Real Estate
(207) 872-7650
143 Silver Street, Waterville, ME
Listed by
Rachel Anderson
(207) 649-2156
Added: Mar 26 Checked: Jul 16 at 8:06 pm
MLS# 1651654
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.
Investment Insights
Based on property information with market context.
This multifamily property offers an opportunity for owner-occupancy, rental income, or commercial use. The first-floor owner's unit features 3 bedrooms, a main suite, and a side porch. The upstairs apartment also includes 3 bedrooms and 2 baths. A full basement and attached barn/garage provide storage space. The property is located in Waterville, Maine, and has a lot size of 0.19 acres. The building size is 2458 square feet. The zoning is CC1.
Key Highlights
- Two separate living areas: first‑floor owner’s unit with 3 bedrooms and main suite, plus an upstairs 3‑bedroom apartment with 2 baths
- 1st‑floor primary bedroom with bath, and an additional 1st‑floor bedroom for convenient one‑level living
- Full basement plus attached barn/garage for substantial storage space
Local 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 | $44.2k | $18.00 |
| − Vacancy | −$708 | −$0.29 |
| EGI | $43.5k | $17.71 |
| − OpEx | −$19.6k | −$7.97 |
| NOI | $23.9k | $9.74 |
2,458 SF · lease $18.00/SF/yr · vacancy 1.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$392.1K
$343.1K – $457.5K
NOI $27,450 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,945 @ 7.0% cap · market cap 8.71%
Theoretical Best
Warehouse
$3.67M
$3.21M – $4.28M
NOI $256,697 @ 7.0% cap · market cap 93.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Multifamily property with owner's unit, apartment, and barn/garage.
Where is this duplex located?
The property is located at 124 College Avenue Waterville, ME.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two separate living areas: first‑floor owner’s unit with 3 bedrooms and main suite, plus an upstairs 3‑bedroom apartment with 2 baths; 1st‑floor primary bedroom with bath, and an additional 1st‑floor bedroom for convenient one‑level living; Full basement plus attached barn/garage for substantial storage space
