79 Hill ST Biddeford, ME 04005
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,524 sqft
Price per Sqft $167
MLS Listing ID 1673689
Style Duplex
Full Baths 5
HOA Y/N No
Year Built 1900
Tax Year 2025
Lot Size 6,098 Sqft
Acres 0.14
Source Maine Listings
Land Area 5524
Property Description
An outstanding opportunity to acquire a fully occupied 5-unit multifamily property in the heart of downtown Biddeford. Producing $8,995 per month ($107,940 annually) in gross rental income, this property offers investors immediate cash flow with a projected NOI of approximately $85,400, including an 8% professional management allowance, and an attractive 9.2% cap rate at the current asking price.
Each apartment offers spacious two-bedroom layouts that continue to see strong rental demand in Biddeford's thriving housing market. Public water and sewer, low owner-paid utility expenses, and professionally analyzed operating numbers make this an ideal addition to any investment portfolio.
Located just minutes from Main Street, residents enjoy easy access to restaurants, breweries, shopping, the Amtrak Downeaster, UNE, beaches, and the Biddeford RiverWalk. With continued redevelopment and investment throughout downtown, Biddeford remains one of Maine's strongest rental markets.
Investment Highlights
- Five-unit multifamily building
- Current monthly rent roll: $8,995
- Annual gross scheduled rent: $107,940
- Estimated NOI: $85,429
- Approximate 9.24% cap rate
- Strong 1.32 DSCR under conservative financing assumptions
- Public water & public sewer
- Excellent long-term investment in a high-demand rental location
- Opportunity for future rent growth while benefiting from immediate income
Whether you're completing a 1031 exchange, expanding an existing portfolio, or entering Southern Maine's multifamily market, 79 Hill Street delivers the combination of stable income, attractive returns, and long-term appreciation potential that investors are searching for.
Location
State ME
County York
Zoning R2
Direction GPS Friendly, park on Hill Street
Rooms
Basement Exterior Entry, Interior Entry, Walk-Out Access, Crawl Space, Full, Unfinished
Interior
Interior Features 1st Floor Bedroom
Heating Gas Bottled, Radiator
Cooling None
Flooring Laminate, Tile, Vinyl, Wood
Equipment Cable, Dial-Up, DSL, Internet Access Available
Furnishings Unfurnished
Window Features Double Pane Windows,Storm Window(s)
Exterior
Parking Features No Driveway, None
Roof Type Shingle
Garage No
Building
Lot Description Intown, Near Shopping, Near Railroad, Corner Lot, Sidewalks, Near Public Transit
Story 3
Entry Level Multi-Level
Foundation Brick/Mortar
Water Public
Architectural Style Other
Level or Stories 3
Others
Tax ID BIDD-000039-000000-000170
Acceptable Financing 1031 Exchange, Cash
Listing Terms 1031 Exchange, Cash
NEARBY SCHOOL & BUSINESS
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