Victorian Triplex with Detached
New
For Sale
$800,000
117 Allen Avenue, Portland, ME 04103
Multi-Family, Portland, ME
Property Size3,438 SF
Lot Size0.29 Acres
Price / SF$232.69
Days on Market5
Property Features for 117 Allen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bathroom 1, Bathroom 2
Parking features
Off Street
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Pantry, Shower, Storage
Basement
Full, Walk-Out Access, Unfinished
Lot features
Near Country Club, Open, Level, Sidewalks, Intown, Near Golf Course, Near Shopping, Near Turnpike/ Interstate, Suburban, Near Public Transit
Standard status
Active
Size
3,438 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9235
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Hot Water(Heating), Steam, Oil
Cooling system
Heat Pump
Water source
Public
Amenities
fireplaces
front porch
built-in cabinetry
original molding
detached 2-car garage
storage shed
off-street parking
in-unit laundry
Building Details
Year built
1912
Floors in Building
2
Number of units
3
Flooring type
Laminate, Wood, Tile, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Victorian
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Ann Cianchette · License #BR915526
(207) 318-5318
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 6 at 9:06AM
MLS# 1682904
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 3,438-square-foot Victorian triplex, built in 1912, contains two 2BR/1BA apartments and one 1BR/1BA apartment. All three units are leased, and each has its own washer and dryer. Separate utilities serve the apartments; the owner covers water and sewer, and currently pays utilities for the third-floor unit. Interior details include two fireplaces, built-in cabinetry, original molding, and a large front porch. Updates made from 2021 through 2026 include kitchen improvements, a sewer-line replacement, refreshed finishes, a new second-floor water heater, sprinkler-system electrical work, and exterior painting.
The property occupies a level 0.29-acre lot near Yale Street. A detached two-car garage, storage shed, and off-street parking are included. The setting offers access to UNE's Dental School, shopping, public transit, restaurants, I-95, I-295, and the airport. The property is zoned RN3.
The property occupies a level 0.29-acre lot near Yale Street. A detached two-car garage, storage shed, and off-street parking are included. The setting offers access to UNE's Dental School, shopping, public transit, restaurants, I-95, I-295, and the airport. The property is zoned RN3.
Key Highlights
- Three leased apartments in a 3,438‑square‑foot building
- Two 2BR/1BA units and one 1BR/1BA unit
- 0.29‑acre level lot with detached 2‑car garage, shed, and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,755
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,215,100
$1.2M
Cap Rate 7%
$867,929
$867.9K
Cap Rate 9%
$675,056
$675.1K
Market Conditions
NOI Build-Up for 3,438 SF
Gross rent
$92.8K $27.00/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$86.8K $25.25/SF
− OpEx
−$26.0K −$7.57/SF
NOI
$60.8K $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%
$1,215,100
Cap Rate 7%
$867,929
Cap Rate 9%
$675,056
Alternative Uses
Best Use
Multifamily LT 5
$867.9K
$759.4K – $1.01M
NOI $60,755 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$807.5K
$706.5K – $942.1K
NOI $56,523 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$944.9K
$826.8K – $1.10M
NOI $66,146 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments include individual laundry sets and a mix of two-bedroom and one-bedroom layouts.
Where is this triplex located?
The property is located at 117 Allen Avenue Portland, ME.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Three leased apartments in a 3,438‑square‑foot building; Two 2BR/1BA units and one 1BR/1BA unit; 0.29‑acre level lot with detached 2‑car garage, shed, and off‑street parking
