Three-Unit Building with Private
New
For Sale
$989,000
11 South Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size3,228 SF
Lot Size0.07 Acres
Price / SF$306.38
Days on Market1
Property Features for 11 South Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Tandem, Off Street
Patio and Porch features
Deck
Basement
Walk-Out Access, Daylight, Finished
Lot features
Level, Sidewalks, Intown, Near Shopping, Near Public Transit
Standard status
Active
Size
3,228 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
13916
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Electric (Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Wood Frame, Brick
Roof type
Shingle
Architectural style
Other
Additional Structures
Outbuilding
Buildings
1
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
James Rathband
(207) 332-1513
Added: Nov 6
Last Checked: Nov 6 at 1:06PM
MLS# 1687066
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.
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Investment Insights
Based on property information with market context.
This 3,228-square-foot, three-unit brick and wood-frame property dates to 1900 and occupies a 0.07-acre lot. The renovated first-floor apartment has two bedrooms, a new kitchen and appliances, an updated bath, wood flooring, and fresh paint. Above it, a two-story, two-bedroom unit includes a fireplace, wide pine floors, and a private deck with city views. A one-bedroom garden apartment completes the unit mix. The property also has an outbuilding for storage and tandem off-street parking.
Zoned B3, the building is on South Street in downtown Portland, near Artemesia, Bread & Friends, and Yosaku. Public water and sewer serve the property.
Zoned B3, the building is on South Street in downtown Portland, near Artemesia, Bread & Friends, and Yosaku. Public water and sewer serve the property.
Key Highlights
- Three‑unit building with 3,228 square feet on a 0.07‑acre lot
- B3 zoning
- Renovated first‑floor two‑bedroom unit with new kitchen and appliances, updated bath, wood floors, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,044
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,140,880
$1.1M
Cap Rate 7%
$814,914
$814.9K
Cap Rate 9%
$633,822
$633.8K
Market Conditions
NOI Build-Up for 3,228 SF
Gross rent
$87.2K $27.00/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$81.5K $25.25/SF
− OpEx
−$24.4K −$7.57/SF
NOI
$57.0K $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%
$1,140,880
Cap Rate 7%
$814,914
Cap Rate 9%
$633,822
Alternative Uses
Best Use
Multifamily LT 5
$814.9K
$713.1K – $950.7K
NOI $57,044 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$758.1K
$663.4K – $884.5K
NOI $53,070 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$887.2K
$776.3K – $1.04M
NOI $62,105 @ 7.0% cap · market cap 6.28%
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
6,235
Businesses Nearby
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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
$600,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Portland, ME
Properties on Market for Triplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - A renovated two-bedroom residence, a garden-level apartment, and tandem parking contribute to the building’s flexible configuration.
Where is this triplex located?
The property is located at 11 South Street Portland, ME.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Three‑unit building with 3,228 square feet on a 0.07‑acre lot; B3 zoning; Renovated first‑floor two‑bedroom unit with new kitchen and appliances, updated bath, wood floors, and fresh paint
