8-Unit Brick Apartment
New
For Sale
$1,279,900
72-74 Third Street, Bangor, ME 04401
MULTI_FAMILY - Bangor, ME
Property Size12,418 SF
Lot Size0.21 Acres
Price / SF$103.07
Days on Market4
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
Full bathrooms
8
Rooms
Bathroom 5, Bathroom 4, Bathroom 6, Bathroom 3, Bathroom 1, Bathroom 8, Basement, Bathroom 7, Bathroom 2
Parking features
Off Street
Interior features
1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Shower
Basement
Full, Finished, Walk-Out Access
Lot features
Open, Level, Intown, Near Golf Course, Near Shopping, Near Turnpike/ Interstate, Neighborhood, Near Public Transit
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
Electric (Heating), Hot Water(Heating), Heat Pump (Heating), Baseboard, Natural Gas
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1880
Floors in Building
3
Number of units
8
Flooring type
Wood, Tile, Vinyl
Building materials
Stone, Wood Frame, Brick
Roof type
Shingle, Fiberglass, Tar/Gravel
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Kortnie Mullins
(207) 991-4924
Added: Aug 3
Last Checked: Aug 6 at 6:06AM
MLS# 1644615
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.
Built in 1880, this 8-unit brick apartment building combines period character with substantial interior and building-system updates. The unit mix includes five 1-bedroom apartments, one 2-bedroom apartment, and two 3-bedroom penthouse-style units. Interior features include granite kitchens with stainless-steel appliances, custom-tiled bathrooms, solid oak flooring, and newer windows. Original woodwork and other architectural details remain part of the building’s character.
The property contains 12,418 square feet on 0.21 acres and includes off-street parking at the rear for all units. Major improvements include new plumbing, a comprehensive electrical upgrade with an improved service entrance, extensive brick repointing, and a full roof replacement completed in 2019. Public water and public sewer serve the property. It is located near downtown Bangor, with access to shops, restaurants, entertainment, public transportation, and employment centers. The property is 100% occupied and zoned 14 Urban Res Dist 2.
The property contains 12,418 square feet on 0.21 acres and includes off-street parking at the rear for all units. Major improvements include new plumbing, a comprehensive electrical upgrade with an improved service entrance, extensive brick repointing, and a full roof replacement completed in 2019. Public water and public sewer serve the property. It is located near downtown Bangor, with access to shops, restaurants, entertainment, public transportation, and employment centers. The property is 100% occupied and zoned 14 Urban Res Dist 2.
Key Highlights
- 8‑unit configuration with five 1‑bedroom, one 2‑bedroom, and two 3‑bedroom apartments
- 12,418 square feet on 0.21 acres
- Brick apartment building constructed in 1880
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,932
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Historic apartment property with updated interiors, renovated building systems, and rear parking serving every residence.
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 configuration with five 1‑bedroom, one 2‑bedroom, and two 3‑bedroom apartments; 12,418 square feet on 0.21 acres; Brick apartment building constructed in 1880
