Estimated payment $6,059/month
Turnkey 5-Unit Investment with Strong Cash Flow in One of Southern Maine's Fastest-Growing Markets
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.
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $9,560 | $639,900 | $128,100 | $511,800 |
| 2024 | $8,961 | $630,200 | $128,100 | $502,100 |
| 2023 | $8,268 | $630,200 | $128,100 | $502,100 |
| 2022 | $7,741 | $471,700 | $95,700 | $376,000 |
| 2021 | $7,312 | $401,100 | $79,800 | $321,300 |
| 2020 | $7,960 | $397,000 | $76,600 | $320,400 |
| 2019 | $7,932 | $397,000 | $76,600 | $320,400 |
| 2018 | $7,821 | $397,000 | $76,600 | $320,400 |
| 2017 | $7,004 | $349,000 | $76,600 | $272,400 |
| 2016 | $6,931 | $349,000 | $76,600 | $272,400 |
| 2015 | $6,795 | $349,000 | $76,600 | $272,400 |
| 2014 | $6,628 | $349,000 | $76,600 | $272,400 |
| 2013 | -- | $354,500 | $52,000 | $302,500 |
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/21/2026 08/21/26 | Pending | -- | -- | -- | |
| 07/27/2026 07/27/26 | For Sale | $925,000 | +125.7% | $167 / Sq Ft | |
| 05/28/2025 05/28/25 | Sold | $409,900 | 0.0% | $74 / Sq Ft | View Prior Sale |
| 04/18/2025 04/18/25 | Pending | -- | -- | -- | |
| 04/10/2025 04/10/25 | For Sale | $409,900 | +39.1% | $74 / Sq Ft | |
| 03/27/2020 03/27/20 | Sold | $294,700 | -28.8% | $53 / Sq Ft | View Prior Sale |
| 02/20/2020 02/20/20 | Pending | -- | -- | -- | |
| 11/20/2019 11/20/19 | For Sale | $414,000 | -- | $75 / Sq Ft |
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $409,900 | None Available | |
| Warranty Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | -- |
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $725,000 | Unknown | |
| Closed | $570,000 | Purchase Money Mortgage | |
| Previous Owner | $200,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $293,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $348,000 | New Conventional |
$525,000
Two-unit leased at $5,000 per month. Four bedrooms, two baths across two units, 1,260 sq ft, public water and sewer. Roof 2023, Rinnai heat 2021. Owner currently pays gas, electric and water — separate or bill back and the net income moves. Walk to downtown Westbrook, short drive to Portland. Leases, rent roll and utility history available to qualified buyers.
Michael Hamilton Keller Williams Realty
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STUNNING REHAB NEAR THE RIVERWALK!Move right into this beautifully reimagined open-concept home! Highlights include a sleek, modern kitchen, stylish finishes throughout, and a private backyard perfect for pets or play. Nestled in a quiet neighborhood just blocks from the Androscoggin River, you'll enjoy easy access to the Auburn Riverwalk, local parks, and downtown attractions. Why rent when
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Source: Maine Listings
MLS Number: 1673689
APN: BIDD 39-170
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