Three-Unit Multifamily
For Sale
$1,195,000
103 Monument Street, Portland, ME 04101
Three two-bedroom residences include separate utilities, outdoor space, and driveway parking.
Property Size2,917 SF
Price / SF$409.67
Days on Market21
Property Features for 103 Monument Street
General Information
Standard status
Active
Size
2,917 SF
Property subtype
MULTI_FAMILY
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,030
Amenities
backyard garden
water views
city skyline views
Building Details
Building Size
2,917 SF
Year Built
1899
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(207) 701-6410
Listed By:
Sierra Curtis · License #SA923752
(207) 701-6410
Source:
Heathershieldsmaine
Added: Jul 17
Changed: Aug 2
Last Checked: Aug 6 at 4:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1899, this 2,917-square-foot triplex contains three residences, each arranged with two bedrooms. The property combines original character with practical features, including separate utilities, a rear deck serving Unit 1, and an established backyard with an apple tree, flower boxes, and mature plantings. Driveway parking accommodates 6+ vehicles.
Units 2 and 3 have water views, while Unit 3 also looks toward Portland’s skyline and receives sunset exposure. The property is located in Portland’s East End, near the restaurants, coffee shops, and breweries along Washington Avenue. The Eastern Promenade and views over Casco Bay are also a short walk away.
Units 2 and 3 have water views, while Unit 3 also looks toward Portland’s skyline and receives sunset exposure. The property is located in Portland’s East End, near the restaurants, coffee shops, and breweries along Washington Avenue. The Eastern Promenade and views over Casco Bay are also a short walk away.
Key Highlights
- Three‑unit triplex with 2,917 SF and 1899 construction
- Each residence offers a two‑bedroom layout
- Separate utilities serve all three units
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 | $78.8k | $27.00 |
| − Vacancy | −$5.1k | −$1.76 |
| EGI | $73.6k | $25.25 |
| − OpEx | −$22.1k | −$7.57 |
| NOI | $51.5k | $17.67 |
2,917 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$736.4K
$644.4K – $859.1K
NOI $51,548 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$685.1K
$599.5K – $799.3K
NOI $47,957 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$801.7K
$701.5K – $935.4K
NOI $56,122 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom residences include separate utilities, outdoor space, and driveway parking.
Where is this triplex located?
The property is located at 103 Monument Street Portland, ME.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,917 SF and 1899 construction; Each residence offers a two‑bedroom layout; Separate utilities serve all three units
