Three-Unit Triplex Near
21 Milliken Street Old Orchard Beach, ME 04064
21 Milliken Street, Old Orchard Beach, ME, 04064
$989,000
For Sale
$989,000
Triplex offering three inspected units with flexible short-, mid-, or long-term rental options near the beach.
Property Size2,288 SF
Price / SF$432.26
Days on Market55
Property Features for 21 Milliken Street
General Information
- Standard status
- Active
- Size
- 2,288 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1952
Listing agency
Waypoint Brokers Collective
(207) 749-4170
Listed by
Monica Dambach
(207) 749-4170
Source
Compass
Added: May 28 Updated: Jul 21 at 5:04AM Checked: Jul 21 at 5:04AM
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 Waypoint Brokers Collective
Investment Insights
Based on property information with market context.
This triplex consists of three units, with all three inspected by the Town since returning to the market, providing additional information for prospective buyers. The property is being marketed with flexible rental potential, including short-term, mid-term, or long-term arrangements.
Located at 21 Milliken Street, just off Old Orchard Street, the property is approximately a quarter mile from the beach, pier, train station, restaurants, shops, and downtown. The Town-inspected condition and walkable access to major beach-area destinations are practical considerations for buyers evaluating a residential income asset in a seasonal community.
With three separate units in place, the property provides a straightforward multifamily setup for investors seeking rental flexibility within one building close to established coastal attractions.
Located at 21 Milliken Street, just off Old Orchard Street, the property is approximately a quarter mile from the beach, pier, train station, restaurants, shops, and downtown. The Town-inspected condition and walkable access to major beach-area destinations are practical considerations for buyers evaluating a residential income asset in a seasonal community.
With three separate units in place, the property provides a straightforward multifamily setup for investors seeking rental flexibility within one building close to established coastal attractions.
Key Highlights
- Triplex with 3 full bathrooms and three inspected units (Town inspections completed since it returned to market)
- Flexible rental potential with short‑term, mid‑term, or long‑term options for all three units
- Located at 21 Milliken Street, about a quarter mile from the beach, pier, train station, restaurants, shops, and downtown
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 | $58.2k | $25.44 |
| − Vacancy | −$2.9k | −$1.26 |
| EGI | $55.3k | $24.18 |
| − OpEx | −$16.6k | −$7.25 |
| NOI | $38.7k | $16.93 |
2,288 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$553.3K
$484.2K – $645.5K
NOI $38,732 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$505.1K
$442.0K – $589.3K
NOI $35,359 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$725.3K
$634.6K – $846.2K
NOI $50,770 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
JK Rentals
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Triplex offering three inspected units with flexible short-, mid-, or long-term rental options near the beach.
Where is this triplex located?
The property is located at 21 Milliken Street Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Triplex with 3 full bathrooms and three inspected units (Town inspections completed since it returned to market); Flexible rental potential with short‑term, mid‑term, or long‑term options for all three units; Located at 21 Milliken Street, about a quarter mile from the beach, pier, train station, restaurants, shops, and downtown
