Turnkey 3-Unit
144 Third Street Auburn, ME 04210
For Sale
$330,000
Fully occupied triplex on a corner lot with two one-bedroom units and one two-bedroom unit.
Property Size2,070 SF
Price / SF$159.42
Days on Market19
Property Features for 144 Third Street
General Information
- Standard status
- Active
- Size
- 2,070 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing Agency:
Elevate Maine Realty
Listed By:
Tyler Stewart
(603) 866-2942
Source:
Profoundrealestate
Added: Jul 7
Changed: Jul 24
Last Checked: Jul 24 at 10:42PM
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 Elevate Maine Realty
Investment Insights
Based on property information with market context.
This turnkey, fully occupied 3-unit triplex sits on a corner lot and offers a unit mix of two one-bedroom apartments and one two-bedroom apartment. The property provides 2,070 square feet of living space, and tenants pay their own electricity, helping keep operating costs more controlled.
Current rents are described as running below market, giving the next owner immediate opportunity to adjust income after purchase. The home is located in the heart of Auburn, with schools, shopping, and dining nearby, and highway access reported as less than 10 minutes away.
With income in place from the time of closing, the property presents a straightforward multi-family option for a buyer seeking an owner-occupied arrangement while remaining invested in day-one cash flow.
Current rents are described as running below market, giving the next owner immediate opportunity to adjust income after purchase. The home is located in the heart of Auburn, with schools, shopping, and dining nearby, and highway access reported as less than 10 minutes away.
With income in place from the time of closing, the property presents a straightforward multi-family option for a buyer seeking an owner-occupied arrangement while remaining invested in day-one cash flow.
Key Highlights
- Fully occupied 3‑unit triplex on a corner lot
- Unit mix: two 1‑bedroom units and one 2‑bedroom unit
- 2,070 sq ft of living space
Financial Insights For Multifamily LT 5
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 | $29.6k | $14.28 |
| − Vacancy | −$393 | −$0.19 |
| EGI | $29.2k | $14.09 |
| − OpEx | −$8.7k | −$4.23 |
| NOI | $20.4k | $9.86 |
2,070 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$291.7K
$255.2K – $340.3K
NOI $20,417 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$277.1K
$242.5K – $323.3K
NOI $19,398 @ 7.0% cap · market cap 5.88%
Theoretical Best
Warehouse
$3.68M
$3.22M – $4.29M
NOI $257,353 @ 7.0% cap · market cap 77.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Fully occupied triplex on a corner lot with two one-bedroom units and one two-bedroom unit.
Where is this triplex located?
The property is located at 144 Third Street Auburn, ME.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Fully occupied 3‑unit triplex on a corner lot; Unit mix: two 1‑bedroom units and one 2‑bedroom unit; 2,070 sq ft of living space
