Downtown Three-Unit
16 Hill Street Biddeford, ME 04005
16 Hill Street, Biddeford, ME, 04005
$599,900
For Sale
$599,900
Three-unit property with off-street parking, in-unit washer/dryer hookups, and an unfinished third floor.
Property Size3,448 SF
Price / SF$173.98
Days on Market428
Property Features for 16 Hill Street
General Information
- Standard status
- Active
- Size
- 3,448 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1880
Listing agency
Coldwell Banker Realty
(207) 590-2857
Listed by
Robert Myers
(207) 590-2857
Source
Compass
Added: May 20, 2025 Updated: Jul 21 at 5:35AM Checked: Jul 21 at 5:35AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This three-unit multifamily property offers two finished upstairs apartments and a spacious first-floor unit. The first floor features a 3-bedroom, 1.5-bath layout with washer/dryer hookups in the unit. The two upstairs apartments are 1-bedroom configurations with washer/dryer hookups and back porches for additional storage. An unfinished third-floor space provides potential for additional living area. The basement has a poured concrete floor and updated electrical panels (installed in 2020 +/-). Exterior improvements include vinyl siding, along with a small backyard.
Located in downtown Biddeford, the property includes three garage spaces and off-street parking. It is described as within walking distance to Biddeford amenities and is convenient to public transportation, the train station, and the turnpike. The listing notes proximity to restaurants, breweries, and parks.
The building’s configuration supports rental-ready living for the existing units, with the unfinished third floor offering room to expand indoor space where desired.
Located in downtown Biddeford, the property includes three garage spaces and off-street parking. It is described as within walking distance to Biddeford amenities and is convenient to public transportation, the train station, and the turnpike. The listing notes proximity to restaurants, breweries, and parks.
The building’s configuration supports rental-ready living for the existing units, with the unfinished third floor offering room to expand indoor space where desired.
Key Highlights
- 3‑unit property in downtown Biddeford with off‑street parking and 3 garage spaces
- First‑floor unit features 3 bedrooms and 1.5 bathrooms with washer/dryer hookups in unit
- Two upstairs 1‑bedroom apartments each include washer/dryer hookups and back porches for storage; upstairs units have potential to be 2‑bedroom apartments
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 | $102.2k | $29.64 |
| − Vacancy | −$5.3k | −$1.54 |
| EGI | $96.9k | $28.10 |
| − OpEx | −$43.6k | −$12.64 |
| NOI | $53.3k | $15.45 |
3,448 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$833.8K
$729.6K – $972.8K
NOI $58,369 @ 7.0% cap · market cap 9.73%
Second Best
Apartment 5plus
$761.2K
$666.1K – $888.1K
NOI $53,286 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$1.09M
$956.4K – $1.28M
NOI $76,510 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit property with off-street parking, in-unit washer/dryer hookups, and an unfinished third floor.
Where is this triplex located?
The property is located at 16 Hill Street Biddeford, ME.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 3‑unit property in downtown Biddeford with off‑street parking and 3 garage spaces; First‑floor unit features 3 bedrooms and 1.5 bathrooms with washer/dryer hookups in unit; Two upstairs 1‑bedroom apartments each include washer/dryer hookups and back porches for storage; upstairs units have potential to be 2‑bedroom apartments
