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3-Unit Multifamily Residence

15 Longfellow Street Portland, ME 04103

Claim this Listing
For Sale
$949,000

Three-unit residential income property with covered front porch and detached two-car garage for parking and storage.

Type:Multi-family
Property size:
3,502 SF
Price / SF:
$270.99/SF
Added:
Jun 19, 2026
Days on Market:
26
Last Refresh:
Jul 13 at 2:11 am

Property Features for 15 Longfellow Street

General Information

Standard status
Active
Size
3,502 SF
Property subtype
Multi-family

Building Details

Year Built
1922

Listing office Vitalius Real Estate Group,LLC

Listing date Jun 19, 2026

Source Profoundrealestate

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 Vitalius Real Estate Group,LLC


Investment Insights

Based on property information with market context.

This three-unit multifamily property is configured with two-bedroom-plus layouts on the first and second floors, along with an upgraded kitchen in each of those units. The rear-focused bedroom arrangement is paired with a bathroom positioned between bedrooms, creating a functional layout. A third-floor one-bedroom unit offers a separate dining nook, and outside amenities include a covered front porch with park views.

The second-floor side porch provides outdoor access to unit 2, and the detached two-car garage offers covered parking and storage for the homeowner.

Overall, the building combines original two-bedroom-plus configurations on the main two levels with an additional one-bedroom apartment on the third floor, supported by covered outdoor and parking/storage features.

Key Highlights

  • 1922‑built Portland 3‑unit residential income property overlooking Longfellow Park
  • Original 2BD‑plus layouts on the first and second floors with upgraded kitchens
  • Layout features bedrooms in the rear with the bath between, a configuration described as rarely found in multifamily

Local 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 $94.6k $27.00
− Vacancy −$6.1k −$1.76
EGI $88.4k $25.25
− OpEx −$26.5k −$7.57
NOI $61.9k $17.67
3,502 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$884.1K
$773.6K – $1.03M (±1% cap)
NOI $61,886 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$822.5K
$719.7K – $959.6K (±1% cap)
NOI $57,575 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$962.5K
$842.2K – $1.12M (±1% cap)
NOI $67,377 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

HVAC Service (Bike/Boat/Book/etc) Store Locksmith Electrical Service Auto Parts Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Pet Grooming Service Storage Facility

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Triplex - Three-unit residential income property with covered front porch and detached two-car garage for parking and storage.
Where is this triplex located?
The property is located at 15 Longfellow Street Portland, ME.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 1922‑built Portland 3‑unit residential income property overlooking Longfellow Park; Original 2BD‑plus layouts on the first and second floors with upgraded kitchens; Layout features bedrooms in the rear with the bath between, a configuration described as rarely found in multifamily
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