Five-Unit Apartment
New
For Sale
$860,000
7 Emmons Place, Biddeford, ME 04005
Fully occupied multifamily property with varied unit layouts, resident amenities, and convenient access to groceries and downtown services.
Property Size3,180 SF
Price / SF$270.44
Days on Market5
Property Features for 7 Emmons Place
General Information
Standard status
Active
Size
3,180 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
5
Amenities
off-street parking
expansive rear decks
established raised garden beds
Building Details
Year Built
1880
Listing Agency:
Signature Homes Real Estate Group,LLC
Listed By:
Derek Goff Joseph Tomazin
(603) 433-3350
Source:
Greatislandrealty
Added: Jul 28
Changed: Jul 31
Last Checked: Aug 1 at 5:06AM
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 Signature Homes Real Estate Group,LLC
Investment Insights
Based on property information with market context.
This 3,180-square-foot apartment building, constructed in 1880, contains five occupied units: four one-bedroom, one-bathroom apartments and one spacious two-bedroom, one-bathroom apartment occupying the entire third floor. The property includes a mix of updated and unrenovated units, with future improvement opportunities as apartments turn over. Tenants pay their own electricity, while heat and hot water are included. Off-street parking, expansive rear decks, and established raised garden beds provide practical resident amenities.
The property is located directly across from Hannaford, offering convenient access to groceries and everyday essentials. Downtown Biddeford’s restaurants, breweries, shops, parks, and growing business district are minutes away, along with major commuter routes. The established occupancy and five-unit configuration support continued multifamily rental operations.
The property is located directly across from Hannaford, offering convenient access to groceries and everyday essentials. Downtown Biddeford’s restaurants, breweries, shops, parks, and growing business district are minutes away, along with major commuter routes. The established occupancy and five-unit configuration support continued multifamily rental operations.
Key Highlights
- Five occupied apartment units: four 1‑bedroom and one 2‑bedroom apartment
- 3,180 square feet; building constructed in 1880
- Two‑bedroom, 1‑bathroom apartment occupies the entire third floor
Financial Insights For Apartment 5plus
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 | $94.3k | $29.64 |
| − Vacancy | −$4.9k | −$1.54 |
| EGI | $89.4k | $28.10 |
| − OpEx | −$40.2k | −$12.64 |
| NOI | $49.1k | $15.45 |
3,180 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$702.1K
$614.3K – $819.1K
NOI $49,145 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$882.0K – $1.18M
NOI $70,563 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
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 - Fully occupied multifamily property with varied unit layouts, resident amenities, and convenient access to groceries and downtown services.
Where is this apartment building located?
The property is located at 7 Emmons Place Biddeford, ME.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Five occupied apartment units: four 1‑bedroom and one 2‑bedroom apartment; 3,180 square feet; building constructed in 1880; Two‑bedroom, 1‑bathroom apartment occupies the entire third floor
