Three-Unit Apartment
2 Union Street, Lisbon, ME 04252
New
MULTI_FAMILY - Other - Lisbon, ME
Property size:
2,038 SFLot size:
0.16 AcresPrice / SF:
$179/SF- Added:
- Jun 16, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 17 at 7:06 am
Property Features for 2 Union Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Village
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 1, Bathroom 2, Basement
- Patio and Porch features
- Porch
- Pets allowed
- No
- Interior features
- In-Law Apartment, Bathtub, Shower
- Fencing
- Fenced
- Basement
- Sump Pump, Walk-Out Access, Full, Unfinished
- Standard status
- Active
- Size
- 2,038 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 4958
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Oil, Hot Water(Heating), Baseboard
- Water source
- Public
- Water front features
- Stream
Building Details
- Year built
- 1992
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Carpet, Vinyl
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Timothy Dunham (207) 407-9707
Listing office Tim Dunham Realty 643 Lewiston Rd, Topsham, ME (207) 729-7297
Listing date Jun 16, 2026
MLS# 1665831
Listing URL
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 3‑unit apartment building rebuilt in 1992 on a 0.16± acre corner lot in the Village area
- Unit mix: first‑floor 2 bed/1 bath with a tenant in place, second‑floor 2 bed/1 bath vacant, third‑floor studio/efficiency with full bath vacant
- Oil hot‑water/baseboard heat with zoned heating; circuit breakers
- Full basement with sump pump
- Vinyl siding, shingle roof, carpet and vinyl flooring
- Public water and public sewer; large driveway with many parking spaces; fenced yard; porch
Overview
This three-unit apartment building includes a first-floor two-bedroom, one-bath unit with a tenant in place, plus a second-floor two-bedroom, one-bath unit and a third-floor studio/efficiency unit with full bath. The property was rebuilt in 1992 and features vinyl siding, circuit breakers, and a full basement with a sump pump. Heating is provided by an oil hot-water system with baseboard radiators, and the building offers an off-street driveway with many parking spaces.
The property is located in the Village area on a corner lot. It is described as being convenient to Route 196 and downtown Lisbon Falls, supporting straightforward access for residents and visitors.
With two currently vacant units in addition to the occupied first-floor apartment, the building can fit owner-occupants seeking immediate flexibility, landlords ready to place new tenants, or operators looking to adjust rent levels across multiple units. The mix of unit types also provides variety for prospective occupants, including two-bedroom layouts and a studio/efficiency option.
The property is located in the Village area on a corner lot. It is described as being convenient to Route 196 and downtown Lisbon Falls, supporting straightforward access for residents and visitors.
With two currently vacant units in addition to the occupied first-floor apartment, the building can fit owner-occupants seeking immediate flexibility, landlords ready to place new tenants, or operators looking to adjust rent levels across multiple units. The mix of unit types also provides variety for prospective occupants, including two-bedroom layouts and a studio/efficiency option.
Local 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 | $29.1k | $14.28 |
| − Vacancy | −$387 | −$0.19 |
| EGI | $28.7k | $14.09 |
| − OpEx | −$8.6k | −$4.23 |
| NOI | $20.1k | $9.86 |
2,038 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
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
Warehouse
$3.62M
$3.17M – $4.22M
NOI $253,375 @ 7.0% cap · market cap 69.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Lisbon
- County
- Androscoggin
- State
- Maine
- Longitude
- -70.061604
- Latitude
- 43.997756
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Rebuilt three-unit income property with parking and oil hot-water baseboard heat on a corner lot.
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: 3‑unit apartment building rebuilt in 1992 on a 0.16± acre corner lot in the Village area; Unit mix: first‑floor 2 bed/1 bath with a tenant in place, second‑floor 2 bed/1 bath vacant, third‑floor studio/efficiency with full bath vacant; Oil hot‑water/baseboard heat with zoned heating; circuit breakers
