Triplex with Furnished Short-Term
34 Western Avenue, Waterville, ME 04901
New
MULTI_FAMILY - Other - Waterville, ME
Property size:
2,741 SFLot size:
0.40 AcresPrice / SF:
$142/SF- Added:
- Jul 6, 2026
- Days on Market:
- 1
- Last Refresh:
- Jul 6 at 5:06 pm
Property Features for 34 Western Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RD
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 1, Bathroom 3, Bathroom 2
- Patio and Porch features
- Porch
- Pets allowed
- No
- Interior features
- Storage
- Basement
- Unfinished
- Standard status
- Active
- Size
- 2,741 SF
- Lot size
- 0.40 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 3221
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Baseboard, Oil, Forced Air, Electric (Heating)
- Water source
- Public
- Water front features
- Stream
- Water front
- 1
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Vinyl, Wood
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Metal, Shingle
- Architectural style
- Other
- Additional Structures
- Storage
Listing agent Jeffrey Jolicoeur (207) 649-6893
Listing office EXP Realty 41 Hutchins Drive Building 3, Rangeley, ME (888) 439-8743
Listing date Jul 6, 2026
MLS# 1670280
Listing URL
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Three fully renovated, furnished apartments operated as an established short‑term rental business generating $63,000+ in gross annual income
- Each unit includes self‑check‑in with smart locks and furnishings already in place
- Recent updates include new kitchens, bathrooms, and flooring, plus in‑building laundry
- Heating includes forced air (zoned) and baseboard heat, with oil and electric (heating) systems
- Public water and public sewer services
- Year built 1900 with wood‑frame construction, vinyl siding, and shingle/metal roofing; property includes a porch and stream feature
Overview
This property is a three-unit triplex configured as independent apartments, offered turn-key with furnishing and self-check-in capability. Recent updates include new kitchens, bathrooms, and flooring, along with in-building laundry. Each unit is equipped for smart-lock access and includes furnishings, supporting an organized short-term rental operation or flexible long-term occupancy.
Located at 34 Western Avenue in Waterville, ME, the property is described as within a five-minute walk to Main Street and about five minutes to Colby College. The listing is identified under zoning RD.
For tenants, buyers, or operators, the combination of renovated interiors, in-building laundry, and smart-lock self-check-in is intended to reduce operational friction when running short-term stays. For those seeking longer-term arrangements or owner-occupancy, the layout allows for independent apartment use with furnishing already in place. The current owners indicate they are prepared to provide operating guidance for short-term rentals, including booking systems and guest communication, along with access to existing operational resources.
Located at 34 Western Avenue in Waterville, ME, the property is described as within a five-minute walk to Main Street and about five minutes to Colby College. The listing is identified under zoning RD.
For tenants, buyers, or operators, the combination of renovated interiors, in-building laundry, and smart-lock self-check-in is intended to reduce operational friction when running short-term stays. For those seeking longer-term arrangements or owner-occupancy, the layout allows for independent apartment use with furnishing already in place. The current owners indicate they are prepared to provide operating guidance for short-term rentals, including booking systems and guest communication, along with access to existing operational resources.
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 | $44.4k | $16.20 |
| − Vacancy | −$675 | −$0.25 |
| EGI | $43.7k | $15.95 |
| − OpEx | −$13.1k | −$4.79 |
| NOI | $30.6k | $11.17 |
2,741 SF · lease $16.20/SF/yr · vacancy 1.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$437.3K
$382.6K – $510.2K
NOI $30,610 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$381.5K
$333.8K – $445.0K
NOI $26,702 @ 7.0% cap · market cap 6.85%
Theoretical Best
Warehouse
$4.09M
$3.58M – $4.77M
NOI $286,251 @ 7.0% cap · market cap 73.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
Location Insight
- Map
- Local Demand
- City
- Waterville
- County
- Kennebec
- State
- Maine
- Longitude
- -69.637857
- Latitude
- 44.547545
Nearby Similar for Sale
FAQs
What type of property is this?
Short term rental property - Three renovated furnished apartments with smart-lock self check-in and in-building laundry near Main Street.
Where is this short term rental property located?
The property is located at 34 Western Avenue Waterville, 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: Three fully renovated, furnished apartments operated as an established short‑term rental business generating $63,000+ in gross annual income; Each unit includes self‑check‑in with smart locks and furnishings already in place; Recent updates include new kitchens, bathrooms, and flooring, plus in‑building laundry
