Four-Unit Apartment
For Sale
$375,000
176 Court St, Bangor, ME 04401
Corner-lot multifamily property with a flexible unit mix near downtown Bangor.
Property Size2,566 SF
Price / SF$146.14
Days on Market52
Property Features for 176 Court St
General Information
Standard status
Active
Size
2,566 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,234
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Kimberly Dubois Matson
(603) 930-9728
Source:
Exprealty
Added: Sep 16
Changed: Nov 1
Last Checked: Nov 4 at 5:55PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 2,566-square-foot apartment property contains four units on a corner lot. The first floor includes one two-bedroom apartment and one one-bedroom apartment, while the second floor has two one-bedroom apartments. Each unit includes one bathroom, and all four tenancies are currently month-to-month.
The property is located at 176 Court St in Bangor, ME, within walking distance of downtown shops, restaurants, and other local amenities. The existing unit configuration supports both owner-occupied and income-producing use, with below-market rents currently in place.
The property is located at 176 Court St in Bangor, ME, within walking distance of downtown shops, restaurants, and other local amenities. The existing unit configuration supports both owner-occupied and income-producing use, with below-market rents currently in place.
Key Highlights
- Four‑unit apartment building on a corner lot
- 2,566‑square‑foot multifamily property
- Unit mix includes one 2‑bedroom and three 1‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,516
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,320
$470.3K
Cap Rate 7%
$335,943
$335.9K
Cap Rate 9%
$261,289
$261.3K
Market Conditions
NOI Build-Up for 2,566 SF
Gross rent
$35.4K $13.80/SF
− Vacancy
−$1.8K −$0.71/SF
EGI
$33.6K $13.09/SF
− OpEx
−$10.1K −$3.93/SF
NOI
$23.5K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,320
Cap Rate 7%
$335,943
Cap Rate 9%
$261,289
Alternative Uses
Best Use
Multifamily LT 5
$335.9K
$294.0K – $391.9K
NOI $23,516 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$309.0K
$270.4K – $360.5K
NOI $21,628 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$828.7K
$725.2K – $966.9K
NOI $58,012 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,700
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Corner-lot multifamily property with a flexible unit mix near downtown Bangor.
Where is this quadplex located?
The property is located at 176 Court St Bangor, ME.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit apartment building on a corner lot; 2,566‑square‑foot multifamily property; Unit mix includes one 2‑bedroom and three 1‑bedroom apartments
