Historic Triplex with
For Sale
$479,000
473 / 475 Union Street, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size3,096 SF
Lot Size0.54 Acres
Price / SF$154.72
Days on Market47
Property Features for 473 / 475 Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
URD1
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1, Basement
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
1st Floor Bedroom, Storage
Basement
Unfinished, Full
Lot features
Well Landscaped, Open, Corner Lot, Level, Sidewalks, Neighborhood
Standard status
Active
Size
3,096 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4531
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Zoned, Baseboard, Oil
Water source
Public
Amenities
built-in cabinets and bookcases
wood burning stove
deck
covered storage areas
Building Details
Year built
1803
Floors in Building
2
Number of units
3
Flooring type
Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Additional Structures
Storage
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group · Better Homes and Gardens Real Estate
(207) 942-6711
Listed By:
Philip Sloan
(207) 356-8279
Added: Aug 21
Changed: Sep 12
Last Checked: Oct 6 at 6:06AM
MLS# 1677268
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.
Investment Insights
Based on property information with market context.
This 3,096-square-foot Colonial triplex dates to 1803 and occupies 0.54 acres. The primary residence provides 5–7 bedrooms, two full bathrooms, built-in cabinetry and bookcases, a wood-burning stove, storage, and a substantial deck. Two additional furnished apartments each have one bedroom; one includes a full bathroom and private deck. Wood-frame construction, vinyl siding, wood flooring, shingle roofing, and covered outdoor storage are among the property’s physical features.
The property is located at 473 / 475 Union Street in Bangor, across from the Beth Pancoe pool, Mansfield Stadium, Sawyer Arena, Hayford Park, and the Thomas Hill Standpipe. Downtown restaurants, waterfront concerts, the Cross Center, and the airport are described as being minutes away. Public water and public sewer serve the property, which is zoned URD1.
The property is located at 473 / 475 Union Street in Bangor, across from the Beth Pancoe pool, Mansfield Stadium, Sawyer Arena, Hayford Park, and the Thomas Hill Standpipe. Downtown restaurants, waterfront concerts, the Cross Center, and the airport are described as being minutes away. Public water and public sewer serve the property, which is zoned URD1.
Key Highlights
- 3,096‑square‑foot triplex on a 0.54‑acre lot
- 1803 Colonial with wood‑frame construction and vinyl siding
- Primary residence offers 5–7 bedrooms and two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,373
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,460
$567.5K
Cap Rate 7%
$405,329
$405.3K
Cap Rate 9%
$315,256
$315.3K
Market Conditions
NOI Build-Up for 3,096 SF
Gross rent
$42.7K $13.80/SF
− Vacancy
−$2.2K −$0.71/SF
EGI
$40.5K $13.09/SF
− OpEx
−$12.2K −$3.93/SF
NOI
$28.4K $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%
$567,460
Cap Rate 7%
$405,329
Cap Rate 9%
$315,256
Alternative Uses
Best Use
Multifamily LT 5
$405.3K
$354.7K – $472.9K
NOI $28,373 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$372.8K
$326.2K – $434.9K
NOI $26,096 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$999.9K
$874.9K – $1.17M
NOI $69,994 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Colonial property includes two furnished one-bedroom apartments, decks, public utilities, and a shared backyard.
Where is this triplex located?
The property is located at 473 / 475 Union Street Bangor, ME.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 3,096‑square‑foot triplex on a 0.54‑acre lot; 1803 Colonial with wood‑frame construction and vinyl siding; Primary residence offers 5–7 bedrooms and two full bathrooms
