8-Unit Brick Apartment
72-74 Third Street Bangor, ME 04401
MULTI_FAMILY - Bangor, ME
Property size:
12,418 SFLot size:
0.21 AcresPrice / SF:
$103.07/SF- Added:
- Jun 15, 2026
- Days on Market:
- 30
- Last Refresh:
- Jul 14 at 10:06 am
Property Features for 72-74 Third Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 14 Urban Res Dist 2
- Bathrooms
- 8
- Rooms
- Bathroom 7, Bathroom 8, Bathroom 2, Basement, Bathroom 1, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 4
- Parking features
- Off Street
- Interior features
- 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Shower
- Basement
- Walk-Out Access, Finished, Full
- Standard status
- Active
- Size
- 12,418 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 8080
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Electric (Heating), Baseboard, Hot Water(Heating), Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1880
- Floors in Building
- 3
- Number of units
- 8
- Flooring type
- Vinyl, Tile, Wood
- Building materials
- Stone, Wood Frame, Brick
- Roof type
- Tar/Gravel, Shingle, Fiberglass
Listing agent Kortnie Mullins (207) 991-4924
Listing office Realty of Maine 458 Main Street, Bangor, ME (207) 942-6310
Listing date Jun 15, 2026
MLS# 1644615
Listing URL
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 stately brick apartment building offers eight units with a well-balanced mix: five 1-bedroom units, one 2-bedroom unit, and two expansive 3-bedroom penthouse-style apartments. Inside, original period details such as woodwork and architectural character are preserved and paired with modern updates. Each unit features granite-appointed kitchens with stainless-steel appliances, custom-tiled baths with quality finishes, solid oak flooring, and newer windows.
The property is located in the historic heart of Bangor, Maine, with access to downtown retail, dining, entertainment, public transportation, and employment centers. An off-street parking area to the rear accommodates all units, which is a practical advantage in an in-town setting.
The building’s major systems have been upgraded, including new plumbing throughout, a complete electrical overhaul with an upgraded service entrance, and a full roof replacement in 2019. Extensive repointing of the brick exterior supports structural longevity. The offering is presented with 100% occupancy and long-term responsible tenants, providing a stable operational profile for either an investor or an owner-occupant.
The property is located in the historic heart of Bangor, Maine, with access to downtown retail, dining, entertainment, public transportation, and employment centers. An off-street parking area to the rear accommodates all units, which is a practical advantage in an in-town setting.
The building’s major systems have been upgraded, including new plumbing throughout, a complete electrical overhaul with an upgraded service entrance, and a full roof replacement in 2019. Extensive repointing of the brick exterior supports structural longevity. The offering is presented with 100% occupancy and long-term responsible tenants, providing a stable operational profile for either an investor or an owner-occupant.
Key Highlights
- 8‑unit multi‑family in downtown Bangor with a unit mix of five 1‑bedroom, one 2‑bedroom, and two 3‑bedroom penthouse‑style apartments
- Stone, brick, and wood‑frame construction with preserved period details including original woodwork and architectural character
- Updated interiors with granite‑appointed kitchens and stainless‑steel appliances, plus custom‑tiled baths and solid oak flooring
Local 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 | $201.2k | $16.20 |
| − Vacancy | −$10.9k | −$0.87 |
| EGI | $190.3k | $15.33 |
| − OpEx | −$85.6k | −$6.90 |
| NOI | $104.7k | $8.43 |
12,418 SF · lease $16.20/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.74M
NOI $104,670 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,746 @ 7.0% cap · market cap 21.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Stately brick multifamily with updated interiors, upgraded building systems, and rear off-street parking for all units.
Where is this apartment building located?
The property is located at 72-74 Third Street Bangor, ME.
What is the asking price?
The asking price for this property is $1,279,900.
What are key features of this property?
This property features: 8‑unit multi‑family in downtown Bangor with a unit mix of five 1‑bedroom, one 2‑bedroom, and two 3‑bedroom penthouse‑style apartments; Stone, brick, and wood‑frame construction with preserved period details including original woodwork and architectural character; Updated interiors with granite‑appointed kitchens and stainless‑steel appliances, plus custom‑tiled baths and solid oak flooring
