15 South Street, Freeport, ME 04032

$1,195,000

Property Type: Multi-Family Baths: 4 Square Footage: 3,900 Lot Size (sq. ft.): 10,890 Status: Active

Current Price: $1,195,000 List Date: 5/17/2026 Last Modified: 5/30/2026

Overview

Description

SELLER FINANCING AVAILABLE & PREFERRED*. Look no further -- this is the quadplex everyone has been waiting for with a potential cap rate of 9.85%. Meticulously maintained with 3,900+ SF in desirable Freeport, this property features spacious units and potential for condo conversion, offering more value in the sum of the parts. Step inside and tour the units, each one fully updated throughout. The kitchens feature granite countertops in some units, stainless steel appliances, and recessed lighting. Flooring has been refreshed throughout, including hardwood floors in select units. Bathrooms are also updated with newer tubs, vanities, and flooring, and the pine hallway walls add character and warmth. Some units also offer porch access, a great spot to enjoy the spring and summer months with family and friends. Major improvements include 4 newer heating systems (with some mini-splits), paved driveways, updated plumbing, insulated windows, and repointed chimneys and foundations. Owners benef ... (Read more)

Listing Details MLS# 1661934

Location Information

Street #: 15
Street Name: South
Street Type: Street
County: Cumberland
Town: Freeport
State/Province: ME
Zip Code: 04032
Zip +4: 1513
Leased Land: No
Book: 38809
Page: 148
Map: 13
Lot: 100
Zoning: Multifamily
Zoning Overlay: Yes
Association: No
Full Tax Amount $: 9264
Tax Year: 2025
Tree Growth Y/N: No

Contract Information

Original List Price: 1195000

Property Information

Surveyed: Unknown
Seasonal: No
Number of Units: 4
Total Baths: 4
Total Full Baths: 4
Year Built: 1950
SqFt Finished Above Grade: 3900
SqFt Finished Total: 3900
SqFt Source: Other
Other Source of Square Footage: MLS
Garage: No
Lot Size Acres +/-: 0.25
Source of Acreage: Public Records
Total Half Baths: 0
SqFt Finished Below Grade: 0

Water Info

Water Frontage: No
Water View: No

Units

# of 2 BD Units: 4

Unit 1

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 1975
# Full Baths: Yes
# of Rooms: 5
# of Bedrooms: 2
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

More Information

Unit 2

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 1800
# Full Baths: Yes
# of Rooms: 5
# of Bedrooms: 2
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 3

Lease: Yes
Level: Second
Security Deposit: Yes
Monthly Rent: 1800
# Full Baths: Yes
# of Rooms: 5
# of Bedrooms: 2
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 4

Lease: Yes
Level: Second
Security Deposit: Yes
Monthly Rent: 1950
# Full Baths: Yes
# of Rooms: 4
# of Bedrooms: 2
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Water: Yes
Sewer: Yes

Site

Level: Yes
Open: Yes

Location

Near Shopping: Yes
Near Turnpike/Interstate: Yes
Neighborhood: Yes

Roads

Paved: Yes
Public: Yes

Style

Contemporary: Yes

Construction

Wood Frame: Yes

Basement

None: Yes

Exterior

Shingle Siding: Yes

Roof

Flat: Yes

Heat System

Hot Water: Yes

Heat Fuel

Gas Natural: Yes

Income & Expenses

Gross Income: 90300
Operating Expenses: 15464.26

Cooling

Window Unit(s): Yes

Floors

Hardwood: Yes
Luxury Vinyl: Yes
Vinyl: Yes

Parking

5 - 10 Spaces: Yes

Electric

Circuit Breakers: Yes

Gas

Natural - On Site: Yes

Sewer

Public Sewer: Yes

Water

Public: Yes

Driveway

Paved: Yes

Basement Entry

Not Applicable: Yes

Water Heater

Electric: Yes

Vehicle Storage

4+ Car: Yes

Property Features

Site: Level; Open Location: Near Shopping; Near Turnpike/Interstate; Neighborhood Roads: Paved; Public Style: Contemporary Construction: Wood Frame Basement: None Basement Entry: Not Applicable Exterior: Shingle Siding Roof: Flat Heat System: Hot Water Heat Fuel: Gas Natural Water Heater: Electric Cooling: Window Unit(s) Floors: Hardwood; Luxury Vinyl; Vinyl Driveway: Paved Parking: 5 - 10 Spaces Vehicle Storage: 4+ Car Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

disclosures ›

Financials ›

IDX

Listing Office: RE/MAX Shoreline

Last Updated: May - 30 - 2026

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. Copyright ©2026 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.