Six-Unit Multifamily
68 & 72 Mount Vernon Avenue, Augusta, ME 04330
For Sale
$700,000
Two multifamily buildings combine for a six-unit residential income property in Augusta.
Property Size5,290 SF
Price / SF$132.33
Days on Market53
Property Features for 68 & 72 Mount Vernon Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Hoang Realty
Listed By:
Hoang Associates Team
(207) 707-2919
Source:
Hoangrealty
Added: Sep 16
Changed: Nov 4
Last Checked: Nov 7 at 8:29AM
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 Hoang Realty
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Investment Insights
Based on property information with market context.
This multifamily offering includes two residential buildings at 68 and 72 Mount Vernon Ave in Augusta, Maine. The 5,290-square-foot property contains six total units, with two units in the first building and four in the second.
Constructed in 1906, the bundled asset is positioned as a residential income property with both buildings included in the sale. The unit distribution provides a clear six-unit configuration across the two addresses.
Constructed in 1906, the bundled asset is positioned as a residential income property with both buildings included in the sale. The unit distribution provides a clear six-unit configuration across the two addresses.
Key Highlights
- Six total residential units across two buildings
- Two‑unit building at 68 Mount Vernon Ave
- Four‑unit building at 72 Mount Vernon Ave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,077
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,181,540
$1.2M
Cap Rate 7%
$843,957
$844.0K
Cap Rate 9%
$656,411
$656.4K
Market Conditions
NOI Build-Up for 5,290 SF
Gross rent
$85.7K $16.20/SF
− Vacancy
−$1.3K −$0.25/SF
EGI
$84.4K $15.95/SF
− OpEx
−$25.3K −$4.79/SF
NOI
$59.1K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,181,540
Cap Rate 7%
$843,957
Cap Rate 9%
$656,411
Alternative Uses
Best Use
Multifamily LT 5
$844.0K
$738.5K – $984.6K
NOI $59,077 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$736.2K
$644.2K – $858.9K
NOI $51,533 @ 7.0% cap · market cap 7.36%
Theoretical Best
Warehouse
$7.89M
$6.91M – $9.21M
NOI $552,452 @ 7.0% cap · market cap 78.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
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Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Augusta, ME
Properties on Market for Multifamily properties in Augusta
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two multifamily buildings combine for a six-unit residential income property in Augusta.
Where is this multifamily property located?
The property is located at 68 & 72 Mount Vernon Avenue Augusta, ME.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Six total residential units across two buildings; Two‑unit building at 68 Mount Vernon Ave; Four‑unit building at 72 Mount Vernon Ave
