6-Unit Apartment
31 Pine Street, Auburn, ME 04210
For Sale
$639,000
A varied bedroom mix offers multiple residential configurations within this Auburn multifamily property.
Property Size4,020 SF
Price / SF$158.96
Days on Market72
Property Features for 31 Pine Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
A Team Realty
(207) 894-8484
Listed By:
Jonathan Keenan
(207) 747-9613
Source:
Amerorealty
Added: Aug 31
Changed: Nov 8
Last Checked: Nov 9 at 8:31PM
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 A Team Realty
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Investment Insights
Based on property information with market context.
This 4,020-square-foot apartment property in Auburn contains six residential units: one three-bedroom apartment, two two-bedroom apartments, and three one-bedroom apartments. Built in 1920, the building is zoned T-4.2. The mix provides a range of unit sizes within a single multifamily asset.
The property has highway access and is minutes from downtown Auburn, with shopping, restaurants, employment, entertainment, and everyday amenities described in the surrounding area.
The property has highway access and is minutes from downtown Auburn, with shopping, restaurants, employment, entertainment, and everyday amenities described in the surrounding area.
Key Highlights
- Six apartments: one 3‑bedroom, two 2‑bedroom, and three 1‑bedroom units
- 4,020‑square‑foot multifamily building
- Built in 1920; zoned T‑4.2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,671
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,420
$753.4K
Cap Rate 7%
$538,157
$538.2K
Cap Rate 9%
$418,567
$418.6K
Market Conditions
NOI Build-Up for 4,020 SF
Gross rent
$69.5K $17.28/SF
− Vacancy
−$973 −$0.24/SF
EGI
$68.5K $17.04/SF
− OpEx
−$30.8K −$7.67/SF
NOI
$37.7K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,420
Cap Rate 7%
$538,157
Cap Rate 9%
$418,567
Alternative Uses
Best Use
Apartment 5plus
$538.2K
$470.9K – $627.9K
NOI $37,671 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,520 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied bedroom mix offers multiple residential configurations within this Auburn multifamily property.
Where is this apartment building located?
The property is located at 31 Pine Street Auburn, ME.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Six apartments: one 3‑bedroom, two 2‑bedroom, and three 1‑bedroom units; 4,020‑square‑foot multifamily building; Built in 1920; zoned T‑4.2
