Four-Unit Quadplex with
64 Division Street, Bangor, ME 04401
For Sale
$399,000
A two-bedroom apartment and three one-bedroom units provide a varied residential rental mix.
Property Size2,151 SF
Price / SF$185.50
Days on Market145
Property Features for 64 Division Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Sally Bilancia
(207) 745-9173
Source:
Integrityhomesrealestategroup
Added: Jun 20
Changed: Nov 11
Last Checked: Nov 11 at 2:10AM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Investment Insights
Based on property information with market context.
Built in 1880, this 2,151-square-foot quadplex contains four apartments. One unit has two bedrooms, a living room, sunporch, full bathroom, kitchen, and in-unit laundry. The other three apartments each include one bedroom, a living room, a kitchen, and a full bathroom. A detached two-car garage adds storage space. Owned solar panels supply power to the basement and the owner's residence, helping reduce electricity costs.
The property is at 64 Division Street in Bangor, Maine, and is zoned URD-2.
The property is at 64 Division Street in Bangor, Maine, and is zoned URD-2.
Key Highlights
- Four apartments: one two‑bedroom unit and three one‑bedroom units
- 2,151 square feet; built in 1880
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,713
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,260
$394.3K
Cap Rate 7%
$281,614
$281.6K
Cap Rate 9%
$219,033
$219.0K
Market Conditions
NOI Build-Up for 2,151 SF
Gross rent
$29.7K $13.80/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$28.2K $13.09/SF
− OpEx
−$8.4K −$3.93/SF
NOI
$19.7K $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%
$394,260
Cap Rate 7%
$281,614
Cap Rate 9%
$219,033
Alternative Uses
Best Use
Multifamily LT 5
$281.6K
$246.4K – $328.6K
NOI $19,713 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$259.0K
$226.6K – $302.2K
NOI $18,130 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$694.7K
$607.9K – $810.5K
NOI $48,630 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,562
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - A two-bedroom apartment and three one-bedroom units provide a varied residential rental mix.
Where is this quadplex located?
The property is located at 64 Division Street Bangor, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four apartments: one two‑bedroom unit and three one‑bedroom units; 2,151 square feet; built in 1880; Detached two‑car garage
