4-Unit Apartment
For Sale
$429,900
284 French St, Bangor, ME 04401
Four one-bedroom residences with varied layouts, private outdoor spaces, and shared coin-operated laundry.
Property Size2,352 SF
Price / SF$182.78
Days on Market57
Property Features for 284 French St
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Amenities
farmer's porch
coin-operated laundry
Building Details
Year Built
1916
Listing Agency:
Realty of Maine
Listed By:
Kortnie Mullins, Renee Hudgens Kortnie Mullins
(207) 536-8528
Source:
Lawanaandcompany
Added: Aug 22
Changed: Oct 11
Last Checked: Oct 7 at 4:17PM
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 Realty of Maine
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Investment Insights
Based on property information with market context.
This 2,352-square-foot quadplex, built in 1916, contains four one-bedroom apartments. Two residences include mudrooms with custom historical pillars, living rooms with original fireplaces, formal dining rooms, galley kitchens, bathroom suites, and access to a farmer’s porch. The other two apartments feature private decks along with kitchens, living areas, and bedrooms.
A natural gas boiler serves the property, and coin-operated laundry provides an on-site resident amenity. The building is located within walking distance of downtown Bangor, John Bapst High School, and area restaurants, shops, and other amenities. The address is 284 French St, Bangor, ME 04401.
A natural gas boiler serves the property, and coin-operated laundry provides an on-site resident amenity. The building is located within walking distance of downtown Bangor, John Bapst High School, and area restaurants, shops, and other amenities. The address is 284 French St, Bangor, ME 04401.
Key Highlights
- Four one‑bedroom apartments in a 2,352‑square‑foot quadplex
- 1916 construction with original fireplaces in two residences
- Two apartments include mudrooms, formal dining rooms, and farmer’s porch access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,555
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,100
$431.1K
Cap Rate 7%
$307,929
$307.9K
Cap Rate 9%
$239,500
$239.5K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$32.5K $13.80/SF
− Vacancy
−$1.7K −$0.71/SF
EGI
$30.8K $13.09/SF
− OpEx
−$9.2K −$3.93/SF
NOI
$21.6K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,100
Cap Rate 7%
$307,929
Cap Rate 9%
$239,500
Alternative Uses
Best Use
Multifamily LT 5
$307.9K
$269.4K – $359.3K
NOI $21,555 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$283.2K
$247.8K – $330.4K
NOI $19,825 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$759.6K
$664.7K – $886.2K
NOI $53,174 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,122
Businesses Nearby
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Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences with varied layouts, private outdoor spaces, and shared coin-operated laundry.
Where is this quadplex located?
The property is located at 284 French St Bangor, ME.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Four one‑bedroom apartments in a 2,352‑square‑foot quadplex; 1916 construction with original fireplaces in two residences; Two apartments include mudrooms, formal dining rooms, and farmer’s porch access
