Scarborough Multifamily Investment
For Sale
$2,999,999
90 Broadturn Road Unit 1, Scarborough, ME 04074
16-unit multifamily property in desirable Scarborough location.
Property Size11,478 SF
Price / SF$261.37
Days on Market247
Property Features for 90 Broadturn Road Unit 1
General Information
Standard status
Active
Size
11,478 SF
Property subtype
Commercial
Building Details
Year Built
1945
Listing Agency:
Keller Williams Realty
Listed By:
Alexandru Pirleci
(207) 239-6606
Source:
Greatislandrealty
Added: Feb 14
Changed: Oct 16
Last Checked: Oct 16 at 9:01AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a 16-unit multifamily property in Scarborough, ideally positioned in the Dunstan Corner neighborhood near the Saco border. The location provides convenient access to area amenities, the Maine Turnpike, and downtown Portland. This location offers strong rental appeal within the highly desirable Greater Portland market. The property consists of four buildings, each containing four units, for a total of 16 apartments. The unit mix includes fifteen 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, an attractive configuration that supports consistent tenant demand. All but one unit are currently occupied, providing immediate income with minimal vacancy exposure. The asset has undergone substantial renovations in recent years, resulting in modernized interiors, updated major systems, and improved long-term durability. New heat pumps have been installed in all units, enhancing energy efficiency and tenant comfort. Additional income is generated through on-site coin-operated laundry, and each unit benefits from two dedicated parking spaces plus overflow parking for guests. The property size is 11478 square feet. With strong in-place occupancy, recent capital improvements, and a strategic location in one of Southern Maine’s most sought-after communities, this offering presents a compelling opportunity for investors seeking stable cash flow and long-term appreciation.
Key Highlights
- Prime location in Scarborough's Dunstan Corner, near Saco border, with easy access to amenities, Maine Turnpike, and Portland.
- 16‑unit multifamily property with a desirable unit mix: fifteen 2‑bedroom\/1‑bath and one 1‑bedroom\/1‑bath.
- Substantial recent renovations including modernized interiors and updated major systems.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$188,705
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,774,100
$3.8M
Cap Rate 7%
$2,695,786
$2.7M
Cap Rate 9%
$2,096,722
$2.1M
Market Conditions
NOI Build-Up for 11,478 SF
Gross rent
$365.0K $31.80/SF
− Vacancy
−$21.9K −$1.91/SF
EGI
$343.1K $29.89/SF
− OpEx
−$154.4K −$13.45/SF
NOI
$188.7K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,774,100
Cap Rate 7%
$2,695,786
Cap Rate 9%
$2,096,722
Alternative Uses
Best Use
Apartment 5plus
$2.70M
$2.36M – $3.15M
NOI $188,705 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,832 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - 16-unit multifamily property in desirable Scarborough location.
Where is this apartment building located?
The property is located at 90 Broadturn Road Unit 1 Scarborough, ME.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Prime location in Scarborough's Dunstan Corner, near Saco border, with easy access to amenities, Maine Turnpike, and Portland.; 16‑unit multifamily property with a desirable unit mix: fifteen 2‑bedroom\/1‑bath and one 1‑bedroom\/1‑bath.; Substantial recent renovations including modernized interiors and updated major systems.
