3-Unit Apartment
2 Union Street, Lisbon, ME 04252
For Sale
$365,000
Three separate residences include two-bedroom layouts, a studio, and a full basement with sump pump.
Property Size2,038 SF
Lot Size0.16 Acres
Price / SF$179.10
Days on Market162
Property Features for 2 Union Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Property Condition
Severity
Evidence
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
Tim Dunham Realty
(207) 729-7297
Listed By:
Timothy Dunham
(207) 407-9707
Source:
Integrityhomesrealestategroup
Added: Jun 5
Changed: Nov 11
Last Checked: Nov 13 at 8:24PM
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 Tim Dunham Realty
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Investment Insights
Based on property information with market context.
This 2,038-square-foot apartment property contains three units: a first-floor two-bedroom, one-bath residence with a tenant, a vacant second-floor two-bedroom, one-bath unit, and a vacant third-floor studio with a full bath. The building was rebuilt in 1992 and has a full basement with a sump pump, vinyl siding, circuit breakers, oil-fired hot-water baseboard heat, and a large driveway. Substantial foundation defects have been identified.
The property occupies a 0.16-acre corner lot in the Village area at 2 Union Street in Lisbon Falls, near Route 196 and downtown Lisbon Falls. Zoning is Village.
The property occupies a 0.16-acre corner lot in the Village area at 2 Union Street in Lisbon Falls, near Route 196 and downtown Lisbon Falls. Zoning is Village.
Key Highlights
- Three apartments: two 2‑bedroom/1‑bath units and one studio/efficiency with full bath
- 2,038 square feet on a 0.16‑acre corner lot
- Substantial foundation defects identified
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,101
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,020
$402.0K
Cap Rate 7%
$287,157
$287.2K
Cap Rate 9%
$223,344
$223.3K
Market Conditions
NOI Build-Up for 2,038 SF
Gross rent
$29.1K $14.28/SF
− Vacancy
−$387 −$0.19/SF
EGI
$28.7K $14.09/SF
− OpEx
−$8.6K −$4.23/SF
NOI
$20.1K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,020
Cap Rate 7%
$287,157
Cap Rate 9%
$223,344
Alternative Uses
Best Use
Multifamily LT 5
$287.2K
$251.3K – $335.0K
NOI $20,101 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$272.8K
$238.7K – $318.3K
NOI $19,098 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$633.8K
$554.6K – $739.5K
NOI $44,369 @ 7.0% cap · market cap 12.16%
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
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
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Business Placement
Demographics for 04252, ME
4,876
Population
2,046
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
97%
High-School Grad
11.1 sq mi
ZIP Area
439
Density / Sq Mi
$72,303
Median Household Income
$45,737
Median Earnings
$1,030
Median Rent
$245,800
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Androscoggin County, ME
Properties on Market for Triplexes in Androscoggin County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include two-bedroom layouts, a studio, and a full basement with sump pump.
Where is this triplex located?
The property is located at 2 Union Street Lisbon, ME.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Three apartments: two 2‑bedroom/1‑bath units and one studio/efficiency with full bath; 2,038 square feet on a 0.16‑acre corner lot; Substantial foundation defects identified
