5-Unit Multifamily
2 Oak Street, Auburn, ME 04210
For Sale
$594,900
MFU zoning supports the property’s multifamily configuration.
Property Size4,592 SF
Price / SF$129.55
Days on Market161
Property Features for 2 Oak Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Cap Rate
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Kyle McCarthy
(339) 236-5172
Source:
Integrityhomesrealestategroup
Added: Jun 3
Changed: Nov 7
Last Checked: Nov 10 at 12:55PM
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 EXP Realty
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Investment Insights
Based on property information with market context.
The 4,592-square-foot apartment building contains five units and was constructed in 1920. It is zoned MFU for multifamily use.
The property is located at 2 Oak Street in Auburn, Maine. Its reported cap rate is approximately 9.5%.
The property is located at 2 Oak Street in Auburn, Maine. Its reported cap rate is approximately 9.5%.
Key Highlights
- Five‑unit apartment building
- 4,592 square feet; built in 1920
- MFU zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,031
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,620
$860.6K
Cap Rate 7%
$614,729
$614.7K
Cap Rate 9%
$478,122
$478.1K
Market Conditions
NOI Build-Up for 4,592 SF
Gross rent
$79.3K $17.28/SF
− Vacancy
−$1.1K −$0.24/SF
EGI
$78.2K $17.04/SF
− OpEx
−$35.2K −$7.67/SF
NOI
$43.0K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,620
Cap Rate 7%
$614,729
Cap Rate 9%
$478,122
Alternative Uses
Best Use
Apartment 5plus
$614.7K
$537.9K – $717.2K
NOI $43,031 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,973 @ 7.0% cap · market cap 16.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
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Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - MFU zoning supports the property’s multifamily configuration.
Where is this apartment building located?
The property is located at 2 Oak Street Auburn, ME.
What is the asking price?
The asking price for this property is $594,900.
What are key features of this property?
This property features: Five‑unit apartment building; 4,592 square feet; built in 1920; MFU zoning
