3-Unit Triplex with Off-Street
For Sale
$450,000
83 Essex Street, Bangor, ME 04401
Three residential units offer varied layouts, shared laundry, natural gas heating, and parking served by two driveways.
Property Size2,806 SF
Price / SF$160.37
Days on Market65
Property Features for 83 Essex Street
General Information
Standard status
Active
Size
2,806 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR, 2 x 1BR
Multifamily Units
3
Amenities
shared washer and dryer
off-street parking
Building Details
Year Built
1875
Listing Agency:
Realty of Maine
Listed By:
Kortnie Mullins
(603) 866-2942
Source:
Profoundrealestate
Added: Jun 3
Changed: Aug 4
Last Checked: Aug 6 at 4:42AM
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 Realty of Maine
Investment Insights
Based on property information with market context.
This 3-unit triplex contains a 2-bedroom first-floor residence and two 1-bedroom units on the second floor. The larger apartment includes a living room, kitchen with dishwasher, dining room with hardwood flooring, and mudroom. One upper-level unit has its own kitchen, living room, porch, and newer vinyl flooring. A shared washer and dryer serve the property, while a natural gas boiler provides heat. Two driveways supply off-street parking.
The building is located at 83 Essex Street in Bangor, Maine, and was constructed in 1875. The existing layout provides three separate residential units, with the possibility of an additional unit subject to required municipal approvals.
The building is located at 83 Essex Street in Bangor, Maine, and was constructed in 1875. The existing layout provides three separate residential units, with the possibility of an additional unit subject to required municipal approvals.
Key Highlights
- 3‑unit configuration with one 2‑bedroom apartment and two 1‑bedroom units
- 2,806 SF property built in 1875
- First‑floor 2‑bedroom unit includes dishwasher, hardwood dining room floors, and mudroom
Financial Insights For Multifamily LT 5
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 | $38.7k | $13.80 |
| − Vacancy | −$2.0k | −$0.71 |
| EGI | $36.7k | $13.09 |
| − OpEx | −$11.0k | −$3.93 |
| NOI | $25.7k | $9.16 |
2,806 SF · lease $13.80/SF/yr · vacancy 5.13% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$367.4K
$321.4K – $428.6K
NOI $25,715 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$337.9K
$295.6K – $394.2K
NOI $23,651 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$906.3K
$793.0K – $1.06M
NOI $63,438 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,146
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer varied layouts, shared laundry, natural gas heating, and parking served by two driveways.
Where is this triplex located?
The property is located at 83 Essex Street Bangor, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3‑unit configuration with one 2‑bedroom apartment and two 1‑bedroom units; 2,806 SF property built in 1875; First‑floor 2‑bedroom unit includes dishwasher, hardwood dining room floors, and mudroom
