Three-Unit Residential
For Sale
$350,000
18 Franklin Street, Augusta, ME 04330
Three-unit residential property with a two-bedroom and one-bedroom unit mix in Augusta.
Property Size2,452 SF
Price / SF$142.74
Days on Market57
Property Features for 18 Franklin Street
General Information
Standard status
Active
Size
2,452 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Building Details
Year Built
1880
Listing Agency:
Keller Williams Realty
Listed By:
Francois Rodrigue
(207) 873-9013
Source:
Profoundrealestate
Added: Sep 7
Changed: Nov 1
Last Checked: Nov 1 at 5:58AM
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 three-unit residential property contains 2,452 square feet and was built in 1880. The configuration includes two 2-bedroom units and one 1-bedroom unit, providing a defined mix of residential accommodations within the building.
Located at 18 Franklin St in Augusta, Maine, the property is near local amenities. The 1-bedroom unit may offer the potential for conversion to a 2-bedroom layout, subject to town approval.
Located at 18 Franklin St in Augusta, Maine, the property is near local amenities. The 1-bedroom unit may offer the potential for conversion to a 2-bedroom layout, subject to town approval.
Key Highlights
- Three‑unit residential property at 18 Franklin St, Augusta, ME 04330
- 2,452‑square‑foot property built in 1880
- Two 2‑bedroom units and one 1‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,383
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,660
$547.7K
Cap Rate 7%
$391,186
$391.2K
Cap Rate 9%
$304,256
$304.3K
Market Conditions
NOI Build-Up for 2,452 SF
Gross rent
$39.7K $16.20/SF
− Vacancy
−$604 −$0.25/SF
EGI
$39.1K $15.95/SF
− OpEx
−$11.7K −$4.79/SF
NOI
$27.4K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,660
Cap Rate 7%
$391,186
Cap Rate 9%
$304,256
Alternative Uses
Best Use
Multifamily LT 5
$391.2K
$342.3K – $456.4K
NOI $27,383 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$341.2K
$298.6K – $398.1K
NOI $23,886 @ 7.0% cap · market cap 6.82%
Theoretical Best
Warehouse
$3.66M
$3.20M – $4.27M
NOI $256,070 @ 7.0% cap · market cap 73.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
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Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with a two-bedroom and one-bedroom unit mix in Augusta.
Where is this triplex located?
The property is located at 18 Franklin Street Augusta, ME.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑unit residential property at 18 Franklin St, Augusta, ME 04330; 2,452‑square‑foot property built in 1880; Two 2‑bedroom units and one 1‑bedroom unit
