Triplex with Unfinished Third
108 Longfellow Street, Westbrook, ME 04092
For Sale
$899,000
Three two-bedroom apartments have separate heating systems and individually metered electricity.
Property Size4,444 SF
Price / SF$202.30
Days on Market75
Property Features for 108 Longfellow Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Dream Home Realty LLC
(207) 300-4663
Listed By:
Lisa Andrade
(207) 239-2220
Source:
Kiefferrealestate
Added: Aug 31
Changed: Nov 12
Last Checked: Nov 13 at 7:07AM
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 Dream Home Realty LLC
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Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 4,444 square feet and was built in 1740. Each apartment has two bedrooms and one bathroom, with its own heating system and separately metered electricity. The third unit includes an unfinished third floor that could provide additional living area; creating a fourth unit would require Town of Westbrook approval.
The property is at 108 Longfellow Street in Westbrook, Maine. Its zoning designation is 11.
The property is at 108 Longfellow Street in Westbrook, Maine. Its zoning designation is 11.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 bathroom
- 4,444‑square‑foot triplex built in 1740
- Individual heating systems and separately metered electricity for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,532
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,570,640
$1.6M
Cap Rate 7%
$1,121,886
$1.1M
Cap Rate 9%
$872,578
$872.6K
Market Conditions
NOI Build-Up for 4,444 SF
Gross rent
$120.0K $27.00/SF
− Vacancy
−$7.8K −$1.76/SF
EGI
$112.2K $25.25/SF
− OpEx
−$33.7K −$7.57/SF
NOI
$78.5K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,570,640
Cap Rate 7%
$1,121,886
Cap Rate 9%
$872,578
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$981.7K – $1.31M
NOI $78,532 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$1.04M
$913.3K – $1.22M
NOI $73,062 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,501 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
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Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Cumberland County, ME
Properties on Market for Triplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom apartments have separate heating systems and individually metered electricity.
Where is this triplex located?
The property is located at 108 Longfellow Street Westbrook, ME.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 bathroom; 4,444‑square‑foot triplex built in 1740; Individual heating systems and separately metered electricity for each unit
