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.
