Three-Unit Double-Lot Residential
47 Frederic Street Portland, ME 04102
For Sale
$949,000
MULTI_FAMILY - Other - Portland, ME
Property Size3,570 SF
Lot Size0.22 Acres
Price / SF$265.83
Days on Market23
Property Features for 47 Frederic Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 13
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 1, Bathroom 3, Basement
- Basement
- Full
- Standard status
- Active
- Size
- 3,570 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 236
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1930
- Number of units
- 3
- Flooring type
- Vinyl, Carpet, Wood
- Building materials
- Wood Frame, Clapboard
- Roof type
- Membrane
- Architectural style
- Other
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
David Jones · License #DB918088
(207) 650-3455
Added: Jul 2
Last Checked: Jul 24 at 10:06PM
MLS# 1669965
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.
Investment Insights
Based on property information with market context.
This three-unit multifamily building is offered as a package and will be unoccupied at the time of sale. The property sits on a double lot and includes a yard at the rear, providing outdoor space for residents. The building size is listed at 3,570 square feet.
The site is located at 47 Frederic Street in Portland, Maine (04102), within Cumberland County. The lot size is listed at 0.22 acres, and the property is identified with zoning code 13.
For buyers seeking a straightforward residential income asset, the unoccupied status at closing may simplify inspection, turnaround, and occupancy planning. The double-lot configuration and noted development potential make the site worth considering for buyers evaluating redevelopment or expansion scenarios, subject to applicable zoning and approvals.
The site is located at 47 Frederic Street in Portland, Maine (04102), within Cumberland County. The lot size is listed at 0.22 acres, and the property is identified with zoning code 13.
For buyers seeking a straightforward residential income asset, the unoccupied status at closing may simplify inspection, turnaround, and occupancy planning. The double-lot configuration and noted development potential make the site worth considering for buyers evaluating redevelopment or expansion scenarios, subject to applicable zoning and approvals.
Key Highlights
- 3‑unit building on a double lot; units will be unoccupied at time of sale
- Built in 1930 with wood frame construction and clapboard exterior
- Public utilities: public water and public sewer
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 | $96.4k | $27.00 |
| − Vacancy | −$6.3k | −$1.76 |
| EGI | $90.1k | $25.25 |
| − OpEx | −$27.0k | −$7.57 |
| NOI | $63.1k | $17.67 |
3,570 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$901.2K
$788.6K – $1.05M
NOI $63,087 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$838.5K
$733.7K – $978.2K
NOI $58,693 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$981.2K
$858.6K – $1.14M
NOI $68,685 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit income property on a double lot with a yard and development potential.
Where is this triplex located?
The property is located at 47 Frederic Street Portland, ME.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 3‑unit building on a double lot; units will be unoccupied at time of sale; Built in 1930 with wood frame construction and clapboard exterior; Public utilities: public water and public sewer
