Three-Unit Triplex with
1530 Congress Street Portland, ME 04102
1530 Congress Street, Portland, ME, 04102
Contact for pricing
For Sale
Contact for pricing
Three-unit residential income property with three-car garage on a triple lot; tenants require 48 hours’ notice.
Property Size3,995 SF
Price / SF$324.16
Days on Market85
Property Features for 1530 Congress Street
General Information
- Standard status
- Active
- Size
- 3,995 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agency
Malone Commercial Brokers
(207) 772-2422
Listed by
Peter Harrington · License #ME BA900499
Source
Crexi
Added: Apr 29 Updated: Jul 20 at 7:51PM Checked: Jul 21 at 4:12AM
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 Malone Commercial Brokers
Investment Insights
Based on property information with market context.
This three-unit multi-family property offers a strong rental history and includes a value-add opportunity with a vacant, non-conforming fourth unit. The layout is set up around a three-car garage, and the property sits on a triple lot.
Located at 1530 Congress Street in Portland, the offering is described as having an excellent location with limited river views.
For showings, tenants require 48 hours’ notice, so advance scheduling will be necessary for any in-person viewing.
Located at 1530 Congress Street in Portland, the offering is described as having an excellent location with limited river views.
For showings, tenants require 48 hours’ notice, so advance scheduling will be necessary for any in-person viewing.
Key Highlights
- Three‑unit residential income property built in 1920
- Triple lot with a three‑car garage
- Includes a vacant non‑conforming fourth unit
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 | $107.9k | $27.00 |
| − Vacancy | −$7.0k | −$1.76 |
| EGI | $100.9k | $25.25 |
| − OpEx | −$30.3k | −$7.57 |
| NOI | $70.6k | $17.67 |
3,995 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$882.5K – $1.18M
NOI $70,598 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$938.3K
$821.0K – $1.09M
NOI $65,680 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.10M
$960.8K – $1.28M
NOI $76,862 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit residential income property with three-car garage on a triple lot; tenants require 48 hours’ notice.
Where is this triplex located?
The property is located at 1530 Congress Street Portland, ME.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Three‑unit residential income property built in 1920; Triple lot with a three‑car garage; Includes a vacant non‑conforming fourth unit
