Residential Income
205 Northern Avenue Augusta, ME 04330
For Sale
$450,000
Three-unit triplex with in-unit washer and dryer for each unit, including a currently vacant 2-bedroom apartment.
Property Size3,316 SF
Price / SF$135.71
Days on Market116
Property Features for 205 Northern Avenue
General Information
- Standard status
- Active
- Size
- 3,316 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1943
Listing Agency:
Keller Williams Realty
(207) 446-8060
Listed By:
Steven Chicoine
(207) 446-8060
Source:
Compass
Added: Mar 31
Changed: Jul 23
Last Checked: Jul 23 at 5:29PM
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
Investment Insights
Based on property information with market context.
This three-unit triplex is in great shape and configured with one 1-bedroom unit, one 2-bedroom unit, and one 2-3 bedroom unit. Each apartment includes its own washer and dryer. The 2-bedroom unit is currently vacant, while one of the other apartments is occupied, and Apartment 3 is described as being in very good condition.
Additional improvements noted include a one-car garage in the basement, a newly paved driveway, and significant tree work. Updates have been made over the years, and the provided photos show Apartment 2 (currently vacant) and Apartment 1 (occupied). Reported yearly income is $54,600.
The property offers a straightforward income-producing setup with separate in-unit laundry for tenant convenience, plus basement parking storage through the garage.
Additional improvements noted include a one-car garage in the basement, a newly paved driveway, and significant tree work. Updates have been made over the years, and the provided photos show Apartment 2 (currently vacant) and Apartment 1 (occupied). Reported yearly income is $54,600.
The property offers a straightforward income-producing setup with separate in-unit laundry for tenant convenience, plus basement parking storage through the garage.
Key Highlights
- 3‑unit triplex with a 1‑bedroom, 2‑bedroom, and 2–3 bedroom unit
- Each unit has its own washer and dryer
- Currently vacant 2‑bedroom unit for move‑in or owner‑occupied financing
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 | $53.7k | $16.20 |
| − Vacancy | −$817 | −$0.25 |
| EGI | $52.9k | $15.95 |
| − OpEx | −$15.9k | −$4.79 |
| NOI | $37.0k | $11.17 |
3,316 SF · lease $16.20/SF/yr · vacancy 1.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$529.0K
$462.9K – $617.2K
NOI $37,032 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$461.5K
$403.8K – $538.4K
NOI $32,303 @ 7.0% cap · market cap 7.18%
Theoretical Best
Warehouse
$4.95M
$4.33M – $5.77M
NOI $346,301 @ 7.0% cap · market cap 76.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit triplex with in-unit washer and dryer for each unit, including a currently vacant 2-bedroom apartment.
Where is this triplex located?
The property is located at 205 Northern Avenue Augusta, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3‑unit triplex with a 1‑bedroom, 2‑bedroom, and 2–3 bedroom unit; Each unit has its own washer and dryer; Currently vacant 2‑bedroom unit for move‑in or owner‑occupied financing
