4-Unit Apartment
For Sale
$650,000
13 Western Avenue, Biddeford, ME 04005
Four apartments are occupied, with on-site parking and laundry hookups in the first-floor units.
Property Size3,000 SF
Price / SF$216.67
Days on Market209
Property Features for 13 Western Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi Family Home
Zoning
R2
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,007
Amenities
in-unit laundry hookups
Building Details
Building Size
3,000 SF
Year Built
1920
Stories
2
Units
4
Listing Agency:
Coldwell Banker Realty
(207) 282-5988
Listed By:
Jana Mailman Keegan
(207) 423-8471
Source:
Patryfamilyrealty
Added: Apr 7
Changed: Oct 30
Last Checked: Oct 30 at 3:12PM
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
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Investment Insights
Based on property information with market context.
This R2-zoned apartment property contains 3,000 square feet across four two-bedroom, one-bathroom units. The building dates to 1920, and all four apartments are currently rented. Units 1 and 2 are on the first floor and include laundry hookups; on-site parking serves the property.
The property is at 13 Western Avenue in Biddeford, near downtown and Biddeford High School.
The property is at 13 Western Avenue in Biddeford, near downtown and Biddeford High School.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- All apartments currently rented
- 3,000 square feet; built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,785
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,700
$1.0M
Cap Rate 7%
$725,500
$725.5K
Cap Rate 9%
$564,278
$564.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$76.3K $25.44/SF
− Vacancy
−$3.8K −$1.26/SF
EGI
$72.5K $24.18/SF
− OpEx
−$21.8K −$7.25/SF
NOI
$50.8K $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%
$1,015,700
Cap Rate 7%
$725,500
Cap Rate 9%
$564,278
Alternative Uses
Best Use
Multifamily LT 5
$725.5K
$634.8K – $846.4K
NOI $50,785 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$662.3K
$579.5K – $772.7K
NOI $46,363 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$951.0K
$832.1K – $1.11M
NOI $66,569 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
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 - Four apartments are occupied, with on-site parking and laundry hookups in the first-floor units.
Where is this quadplex located?
The property is located at 13 Western Avenue Biddeford, ME.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; All apartments currently rented; 3,000 square feet; built in 1920
