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42 Spruce St 6 Unit Apartment Building $675,000 ($112,500/Unit) 8.30% Cap Rate Sanford, ME 04073
Executive Summary
6-unit multifamily investment property in an established, in-town Sanford neighborhood, offering convenient access to downtown amenities, services, and major commuter routes
Unit Mix: One (1) studio, one (1) 1-BR unit, & four (4) 2-BR units (separately metered electric). All units have been renovated.
Situated in York County, one of Southern Maine's most active investment corridors, benefiting from regional growth and spillover demand from Greater Portland and the Seacoast
Recent improvements include new roof, vinyl siding, & decks (2025)
Opportunity to add three (3) additional bedrooms in the attic space if egress is installed. Confirm with City of Sanford.
SALE PRICE: $675,000.00 | $112,500.00/unit | Cap Rate: 8.30%
Unit Mix: One (1) studio, one (1) 1-BR unit, & four (4) 2-BR units (separately metered electric). All units have been renovated.
Situated in York County, one of Southern Maine's most active investment corridors, benefiting from regional growth and spillover demand from Greater Portland and the Seacoast
Recent improvements include new roof, vinyl siding, & decks (2025)
Opportunity to add three (3) additional bedrooms in the attic space if egress is installed. Confirm with City of Sanford.
SALE PRICE: $675,000.00 | $112,500.00/unit | Cap Rate: 8.30%
Property Facts
| Price | $675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $112,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 8.30% | Building Size | 3,514 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1900/1980 |
| Zoning | U | ||
| Price | $675,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 8.30% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 3,514 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1900/1980 |
| Zoning | U |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | SANF-000027-J000028 | Improvements Assessment | $346,000 |
| Land Assessment | $25,100 | Total Assessment | $371,100 |
Property Taxes
Parcel Number
SANF-000027-J000028
Land Assessment
$25,100
Improvements Assessment
$346,000
Total Assessment
$371,100
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42 Spruce St
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