Multi-Unit Apartment Building with Bay
For Sale
$1,125,000
515 Falls Bridge Road, Blue Hill, ME 04614
MULTI_FAMILY - Blue Hill, ME
Property Size7,700 SF
Lot Size2.05 Acres
Price / SF$146.10
Days on Market31
Property Features for 515 Falls Bridge Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 4, Bathroom 7, Bathroom 3, Bathroom 2, Bathroom 6, Bathroom 5, Bathroom 1
Parking features
Open
Patio and Porch features
Patio
Interior features
Walk-in Closets, One-Floor Living, Shower
Lot features
Open, Level, Near Town, Rural
Standard status
Active
Size
7,700 SF
Lot size
2.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6254
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Baseboard, Natural Gas, Propane (Heating), Hot Water(Heating)
Water source
Private, Well
Building Details
Year built
1958
Floors in Building
4
Number of units
5
Flooring type
Vinyl, Carpet, Tile, Wood, Laminate
Building materials
Wood Frame, Shingle Siding
Roof type
Composition, Shingle
Additional Structures
Outbuilding
Listing Agency:
The Christopher Group, LLC
(877) 350-4409
Listed By:
Molly Dwyer
(207) 266-1298
Added: Jul 7
Changed: Aug 1
Last Checked: Aug 6 at 7:06AM
MLS# 1667224
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.
Perched above Blue Hill Bay, this multi-unit apartment building sits on 2.05 surveyed acres. Originally built in 1958, the 7,700± square foot structure features five apartments across four levels, with many units offering views of Blue Hill Bay.
The building includes two approximately 1,900-square-foot apartments on the first and second floors, each with two to three bedrooms and two baths. The third floor has both a one-bedroom and a two-bedroom apartment, and the top floor offers a loft-style apartment rented seasonally. Interior features include walk-in closets and one-floor living, with a mix of flooring types including vinyl, carpet, tile, wood, and laminate.
Reported improvements include a newer roof, updated kitchens, and a propane-fired central hot water heating system. The property also has a private well water source and private sewer with a septic tank. Outdoor space includes a patio, and parking is offered as open parking. The layout may also lend itself to office, studio, retreat, artist residency, or live/work uses, subject to local approvals.
The building includes two approximately 1,900-square-foot apartments on the first and second floors, each with two to three bedrooms and two baths. The third floor has both a one-bedroom and a two-bedroom apartment, and the top floor offers a loft-style apartment rented seasonally. Interior features include walk-in closets and one-floor living, with a mix of flooring types including vinyl, carpet, tile, wood, and laminate.
Reported improvements include a newer roof, updated kitchens, and a propane-fired central hot water heating system. The property also has a private well water source and private sewer with a septic tank. Outdoor space includes a patio, and parking is offered as open parking. The layout may also lend itself to office, studio, retreat, artist residency, or live/work uses, subject to local approvals.
Key Highlights
- 2.05 surveyed acres perched above Blue Hill Bay
- 7,700± SF building with five apartments across four levels
- Two approx. 1,900‑SF two‑to‑three bedroom, two‑bath units on floors one and two
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 04614, ME
2,792
Population
2,199
Households
1.3
Avg Household Size
52
Median Age
49%
College-Educated
92%
High-School Grad
62.5 sq mi
ZIP Area
45
Density / Sq Mi
$70,164
Median Household Income
$36,076
Median Earnings
$332,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five apartments across four levels on 2.05 acres, featuring a propane-fired central hot water system and multiple bay-view units.
Where is this apartment building located?
The property is located at 515 Falls Bridge Road Blue Hill, ME.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 2.05 surveyed acres perched above Blue Hill Bay; 7,700± SF building with five apartments across four levels; Two approx. 1,900‑SF two‑to‑three bedroom, two‑bath units on floors one and two
