4-Unit
21 Bond Street, Augusta, ME 04330
For Sale
$389,900
Four side-by-side apartments offer individual basement storage, off-street parking, and washer/dryer hookups.
Property Size3,144 SF
Price / SF$124.01
Days on Market160
Property Features for 21 Bond Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
washer/dryer hookups
basement storage
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Construction
Listing Agency:
Real Broker
(207) 272-3984
Listed By:
Patrick Coughlan
(207) 557-3040
Source:
Integrityhomesrealestategroup
Added: Jun 5
Changed: Nov 11
Last Checked: Nov 11 at 2:16AM
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 Real Broker
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Investment Insights
Based on property information with market context.
Built in 1896 as a four-unit townhouse-style property, the building contains 3,144 square feet across four side-by-side apartments. Each unit has a kitchen and living area on the ground floor, bedrooms above, and a separate basement storage area. A large rear entry room adds shared storage space. The property also includes a recently rebuilt one-car garage, currently rented to a neighbor, off-street parking, washer/dryer hookups, and back decks. Zoning is RC.
Improvements include a major overhaul in 1987, replacement of interior horsehair plaster with sheetrock, updated wiring, a new boiler in 2005, a new water heater in 2011, roof work in 2012, attic insulation in 2022, and basement pumps and spray-foam insulation in 2024 and 2025. Back parking was expanded in 2025; the decks are scheduled for repainting in 2026.
Water Street shops, restaurants, and bars are a short walk away. Mill Park is 0.2 miles from the property, the Rail Trail is 0.6 miles away, and Bond Brook Recreation Area is 1.3 miles away. A shopping center with major retailers, restaurants, and a movie theater is 1.7 miles away.
Improvements include a major overhaul in 1987, replacement of interior horsehair plaster with sheetrock, updated wiring, a new boiler in 2005, a new water heater in 2011, roof work in 2012, attic insulation in 2022, and basement pumps and spray-foam insulation in 2024 and 2025. Back parking was expanded in 2025; the decks are scheduled for repainting in 2026.
Water Street shops, restaurants, and bars are a short walk away. Mill Park is 0.2 miles from the property, the Rail Trail is 0.6 miles away, and Bond Brook Recreation Area is 1.3 miles away. A shopping center with major retailers, restaurants, and a movie theater is 1.7 miles away.
Key Highlights
- Four side‑by‑side apartments in a 3,144‑square‑foot building
- Each unit has separate basement storage, with bedrooms on the upper floor
- Recently rebuilt one‑car garage is rented to a neighbor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,111
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,220
$702.2K
Cap Rate 7%
$501,586
$501.6K
Cap Rate 9%
$390,122
$390.1K
Market Conditions
NOI Build-Up for 3,144 SF
Gross rent
$50.9K $16.20/SF
− Vacancy
−$774 −$0.25/SF
EGI
$50.2K $15.95/SF
− OpEx
−$15.0K −$4.79/SF
NOI
$35.1K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,220
Cap Rate 7%
$501,586
Cap Rate 9%
$390,122
Alternative Uses
Best Use
Multifamily LT 5
$501.6K
$438.9K – $585.2K
NOI $35,111 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$437.5K
$382.9K – $510.5K
NOI $30,628 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$893.6K
$781.9K – $1.04M
NOI $62,550 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,228
Businesses Nearby
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Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four side-by-side apartments offer individual basement storage, off-street parking, and washer/dryer hookups.
Where is this quadplex located?
The property is located at 21 Bond Street Augusta, ME.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Four side‑by‑side apartments in a 3,144‑square‑foot building; Each unit has separate basement storage, with bedrooms on the upper floor; Recently rebuilt one‑car garage is rented to a neighbor
