Four-Unit Residential
83 Essex Street, Bangor, ME 04401
New
MULTI_FAMILY - Colonial - Bangor, ME
Property size:
2,806 SFLot size:
0.22 AcresPrice / SF:
$167/SF- Added:
- Jun 16, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 16 at 5:06 pm
Property Features for 83 Essex Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 14 Urban Res Dist 2
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bathroom 3, Bathroom 1, Basement, Bathroom 2
- Patio and Porch features
- Deck, Porch
- Interior features
- 1st Floor Bedroom
- Fencing
- Fenced
- Basement
- Full, Unfinished
- Standard status
- Active
- Size
- 2,806 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 5694
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Zoned, Hot Water(Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1875
- Number of units
- 4
- Flooring type
- Hardwood, Carpet, Vinyl
- Building materials
- Wood Frame, Brick, Clapboard
- Roof type
- Slate
- Architectural style
- Colonial
Listing agent Kortnie Mullins (207) 991-4924
Listing office Realty of Maine 458 Main Street, Bangor, ME (207) 942-6310
Listing date Jun 16, 2026
MLS# 1667500
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.
HighLights
- 4‑unit property built in 1875 with Colonial architectural style
- Unit mix includes a first‑floor 2‑bedroom layout plus two second‑floor 1‑bedroom units and one remodeled 1‑bedroom unit at the rear
- Natural gas boiler with zoned hot water/baseboard heating; slate roof
- Shared washer and dryer; public water and public sewer
- Hardwood, carpet, and vinyl flooring; fenced property with deck and porch
- Two driveways for parking; fourth unit is furnished and operated as a month‑to‑month rental
Overview
This four-unit residential property includes a main home with a two-bedroom first-floor unit and two one-bedroom units on the second floor, plus a fourth one-bedroom unit located at the rear. The first-floor unit features a spacious living room, a generously sized kitchen with a dishwasher, hardwood floors in the dining room, and a convenient mudroom. The second-floor units each provide a one-bedroom layout, including a kitchen, living room, porch, and newer vinyl flooring in one of the units. The rear unit has been tastefully remodeled with updated cabinetry and flooring, and it is currently operated as a furnished month-to-month rental.
Additional on-site amenities include a shared washer and dryer and a natural gas boiler. Off-street parking is supported by two driveways.
With four separate units and a mix of two-bedroom and one-bedroom layouts, the property may appeal to investors seeking multiple rental incomes as well as owner-occupants who want to live in one unit while renting the others. The current furnished month-to-month structure for the rear unit is an additional operating detail to consider when evaluating fit and transition planning.
Additional on-site amenities include a shared washer and dryer and a natural gas boiler. Off-street parking is supported by two driveways.
With four separate units and a mix of two-bedroom and one-bedroom layouts, the property may appeal to investors seeking multiple rental incomes as well as owner-occupants who want to live in one unit while renting the others. The current furnished month-to-month structure for the rear unit is an additional operating detail to consider when evaluating fit and transition planning.
Local 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 5.47%
Second Best
Apartment 5plus
$337.9K
$295.6K – $394.2K
NOI $23,651 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$906.3K
$793.0K – $1.06M
NOI $63,438 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Bangor
- County
- Penobscot
- State
- Maine
- Longitude
- -68.76546
- Latitude
- 44.804408
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Well-maintained quadplex with two driveways, shared laundry, and four distinct residential units in Bangor, Maine.
Where is this quadplex located?
The property is located at 83 Essex Street Bangor, ME.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 4‑unit property built in 1875 with Colonial architectural style; Unit mix includes a first‑floor 2‑bedroom layout plus two second‑floor 1‑bedroom units and one remodeled 1‑bedroom unit at the rear; Natural gas boiler with zoned hot water/baseboard heating; slate roof
