Three-Unit Multifamily with
268 Concord Street W, Portland, ME 04103
New
MULTI_FAMILY - Portland, ME
Property size:
3,688 SFLot size:
0.22 AcresPrice / SF:
$248/SF- Added:
- Jun 29, 2026
- Days on Market:
- 3
- Last Refresh:
- Jul 1 at 3:06 pm
Property Features for 268 Concord Street W
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RN-3
- Bathrooms
- 3
- Rooms
- Bathroom 2, Basement, Bathroom 3, Bathroom 1
- Parking features
- On Street
- Patio and Porch features
- Patio, Deck
- Pets allowed
- No
- Fencing
- Fenced
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 3,688 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 10669
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Baseboard
- Water source
- Public
Building Details
- Year built
- 1879
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Wood, Tile, Carpet
- Building materials
- Wood Frame, Vinyl Siding, Wood Siding
- Roof type
- Shingle
Listing agent Anthony Galli (207) 776-1717
Listing office Greater Portland Realty 41Merrill Road, Portland, ME (207) 797-7777
Listing date Jun 29, 2026
MLS# 1669373
Listing URL
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Multi‑family with three established units plus fully finished space that may support a fourth unit (buyer to verify approvals and permitted use).
- Owner occupied since 2007; units are currently except from City of Portland rent increase limits for 3–4 unit buildings.
- Year built 1879 with wood‑frame construction, vinyl and wood siding, and a shingle roof.
- Utilities include public water and public sewer; heating is natural gas with baseboard units.
- Outdoor features include a deck and patio, plus a fenced yard; parking includes on‑street parking and a garage (per remarks).
- Walking‑distance to UNE and USM and Rosemont Market; access to Evergreen Woods trail network of approx. four miles (per remarks).
Overview
This well-maintained multifamily property includes three established units within a configuration that also features fully finished space that may support a fourth unit, subject to buyer verification of approvals and permitted use with the City. The property has been owner occupied since 2007. For 3–4 unit buildings, the units are currently exempt from the City of Portland’s rent increase limits, a factor to consider for both owner-occupants and investors. The grounds include off-street parking, a garage, and a spacious backyard, providing practical convenience and outdoor space.
Located in Portland, Maine within the Deering Center/Rosemont area, the property offers close proximity to University of New England (UNE) and University of Southern Maine (USM), as well as Rosemont Market, neighborhood shops, restaurants, and everyday amenities. Outdoor access is also nearby, with easy access to Evergreen Woods and an approximately four-mile network of walking and hiking trails.
Zoned RN-3, the building’s layout and existing finished area make it a strong candidate for buyers seeking a straightforward three-unit setup, with the option to evaluate the feasibility of adding a fourth unit through the appropriate city processes. The off-street parking, garage, and backyard can further support tenant day-to-day needs and help differentiate the property within an owner-occupant or investor portfolio.
Located in Portland, Maine within the Deering Center/Rosemont area, the property offers close proximity to University of New England (UNE) and University of Southern Maine (USM), as well as Rosemont Market, neighborhood shops, restaurants, and everyday amenities. Outdoor access is also nearby, with easy access to Evergreen Woods and an approximately four-mile network of walking and hiking trails.
Zoned RN-3, the building’s layout and existing finished area make it a strong candidate for buyers seeking a straightforward three-unit setup, with the option to evaluate the feasibility of adding a fourth unit through the appropriate city processes. The off-street parking, garage, and backyard can further support tenant day-to-day needs and help differentiate the property within an owner-occupant or investor portfolio.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.6k | $27.00 |
| − Vacancy | −$6.5k | −$1.76 |
| EGI | $93.1k | $25.25 |
| − OpEx | −$27.9k | −$7.57 |
| NOI | $65.2k | $17.67 |
3,688 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$931.0K
$814.7K – $1.09M
NOI $65,172 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$866.2K
$757.9K – $1.01M
NOI $60,633 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.01M
$886.9K – $1.18M
NOI $70,955 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.297691
- Latitude
- 43.673804
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-maintained three-unit income property with finished space for a potential fourth unit and off-street parking.
Where is this triplex located?
The property is located at 268 Concord Street W Portland, ME.
What is the asking price?
The asking price for this property is $917,500.
What are key features of this property?
This property features: Multi‑family with three established units plus fully finished space that may support a fourth unit (buyer to verify approvals and permitted use).; Owner occupied since 2007; units are currently except from City of Portland rent increase limits for 3–4 unit buildings.; Year built 1879 with wood‑frame construction, vinyl and wood siding, and a shingle roof.
