Three-Unit Multifamily
20 Elmwood Avenue Westbrook, ME 04092
New
For Sale
$569,000
MULTI_FAMILY - Other - Westbrook, ME
Property Size2,711 SF
Lot Size0.14 Acres
Price / SF$209.89
Days on Market3
Property Features for 20 Elmwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
13
Bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Basement
Parking features
Off Street
Patio and Porch features
Deck
Pets allowed
No
Interior features
In-Law Apartment, 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Bathtub, One-Floor Living, Pantry, Shower, Storage, Primary Bedroom w/Bath
Basement
Walk-Out Access, Unfinished, Full, Sump Pump
Standard status
Active
Size
2,711 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7452
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Space Heater, Propane (Heating), Baseboard, Oil, Hot Water(Heating)
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Flooring type
Wood, Tile, Linoleum, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Beacon Realty
(207) 776-1083
Listed By:
Laura Burden
(207) 332-6458
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 29 at 5:06AM
MLS# 1629506
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.
Investment Insights
Based on property information with market context.
This three-story, three-unit multifamily property is fully rented and set up for straightforward utility separation, with separate electrical meters. The building includes two one-bedroom units and one spacious three-bedroom unit, with two units offering private decks; one deck is listed as brand new. A rear bonus area associated with Unit D provides flexibility for storage, studio, guest, or office use, and the information notes it cannot be used as a fourth unit per City requirements.
The property includes propane and oil tanks, public water, and private sewer. The exterior improvements include a new deck in 2025, a new roof in 2024, and vinyl siding in good shape. For parking, there are two driveways, and the seller describes minimal lot maintenance.
The three-bedroom unit has been fully painted and refreshed. The listing also references high ceilings and an open living area in the three-bedroom unit, reflecting the building’s prior history as a Masonic Hall.
The property includes propane and oil tanks, public water, and private sewer. The exterior improvements include a new deck in 2025, a new roof in 2024, and vinyl siding in good shape. For parking, there are two driveways, and the seller describes minimal lot maintenance.
The three-bedroom unit has been fully painted and refreshed. The listing also references high ceilings and an open living area in the three-bedroom unit, reflecting the building’s prior history as a Masonic Hall.
Key Highlights
- Three‑story 3‑unit property in the Prides Corner area of Westbrook, fully rented
- Unit mix: two 1‑bedroom units and one spacious 3‑bedroom unit
- Separate electrical meters; propane and oil tanks; public water with private sewer via septic tank
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 | $73.2k | $27.00 |
| − Vacancy | −$4.8k | −$1.76 |
| EGI | $68.4k | $25.25 |
| − OpEx | −$20.5k | −$7.57 |
| NOI | $47.9k | $17.67 |
2,711 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$684.4K
$598.8K – $798.5K
NOI $47,907 @ 7.0% cap · market cap 8.42%
Second Best
Apartment 5plus
$636.7K
$557.1K – $742.8K
NOI $44,570 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$745.1K
$652.0K – $869.3K
NOI $52,158 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three-story, fully rented three-unit property with separate electrical meters, decks, and dedicated parking via two driveways.
Where is this triplex located?
The property is located at 20 Elmwood Avenue Westbrook, ME.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Three‑story 3‑unit property in the Prides Corner area of Westbrook, fully rented; Unit mix: two 1‑bedroom units and one spacious 3‑bedroom unit; Separate electrical meters; propane and oil tanks; public water with private sewer via septic tank
