Three-Unit Triplex with Loft
New
For Sale
$1,099,000
115 Clark Street, Portland, ME 04102
Multi-Family, Portland, ME
Property Size2,784 SF
Lot Size0.07 Acres
Price / SF$394.76
Days on Market2
Property Features for 115 Clark Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Basement
Parking features
Offsite
Security features
Security System
Patio and Porch features
Porch
Basement
Unfinished, Sump Pump
Lot features
Well Landscaped, Corner Lot, Level, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood
Standard status
Active
Size
2,784 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11679
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Forced Air, Oil, Zoned, Natural Gas
Water source
Public
Amenities
outdoor decks
on-site laundry
Building Details
Year built
1884
Number of units
3
Flooring type
Carpet, Wood, Tile
Building materials
Wood Frame, Asbestos, Wood Siding
Roof type
Shingle
Listing Agency:
Signature Homes Real Estate Group, LLC
(207) 885-0500
Listed By:
Katherine Az Ashley Lutkoff
(207) 560-1400
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 10:06AM
MLS# 1685200
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 Portland triplex contains three residences across 2,784 square feet on a 0.07-acre lot. Two units have loft areas, and one apartment is furnished. The property also includes two decks and shared laundry. Built in 1884, the building has a wood-frame structure and wood siding, with tile, carpet, and wood flooring. Public water and sewer serve the property.
Located at 115 Clark Street in Portland’s West End, the property is zoned RN-4 and is fully occupied by established tenants.
Located at 115 Clark Street in Portland’s West End, the property is zoned RN-4 and is fully occupied by established tenants.
Key Highlights
- Three residential units in 2,784 square feet
- Two units include loft areas; one apartment is furnished
- Two outdoor decks and shared on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,197
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$983,940
$983.9K
Cap Rate 7%
$702,814
$702.8K
Cap Rate 9%
$546,633
$546.6K
Market Conditions
NOI Build-Up for 2,784 SF
Gross rent
$75.2K $27.00/SF
− Vacancy
−$4.9K −$1.76/SF
EGI
$70.3K $25.25/SF
− OpEx
−$21.1K −$7.57/SF
NOI
$49.2K $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%
$983,940
Cap Rate 7%
$702,814
Cap Rate 9%
$546,633
Alternative Uses
Best Use
Multifamily LT 5
$702.8K
$615.0K – $820.0K
NOI $49,197 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$653.9K
$572.1K – $762.9K
NOI $45,771 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$765.2K
$669.5K – $892.7K
NOI $53,563 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,696
Businesses Nearby
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Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Shared laundry and outdoor decks provide common amenities for the residences.
Where is this triplex located?
The property is located at 115 Clark Street Portland, ME.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Three residential units in 2,784 square feet; Two units include loft areas; one apartment is furnished; Two outdoor decks and shared on‑site laundry
