Three-Unit Residential
22-24 Clifton Street, Portland, ME 04101
For Sale
$887,000
All three residences have three-bedroom layouts.
Property Size4,379 SF
Price / SF$202.56
Days on Market286
Property Features for 22-24 Clifton Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Portside Real Estate Group
(207) 619-7571
Listed By:
Veronica Schneider
(207) 838-4034
Source:
Kiefferrealestate
Added: Feb 2
Changed: Nov 12
Last Checked: Nov 12 at 2:18PM
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 Portside Real Estate Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,379-square-foot residential triplex contains three units, each with three bedrooms. The building dates to 1889 and is zoned RES.
The property is at 22-24 Clifton Street in Portland’s Back Bay neighborhood.
The property is at 22-24 Clifton Street in Portland’s Back Bay neighborhood.
Key Highlights
- Three units, each with three bedrooms
- 4,379 square feet
- Built in 1889
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,383
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,547,660
$1.5M
Cap Rate 7%
$1,105,471
$1.1M
Cap Rate 9%
$859,811
$859.8K
Market Conditions
NOI Build-Up for 4,379 SF
Gross rent
$118.2K $27.00/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$110.5K $25.25/SF
− OpEx
−$33.2K −$7.57/SF
NOI
$77.4K $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%
$1,547,660
Cap Rate 7%
$1,105,471
Cap Rate 9%
$859,811
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$967.3K – $1.29M
NOI $77,383 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$1.03M
$899.9K – $1.20M
NOI $71,993 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,250 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
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
$600,600
Median Home Value
Market
Average Price Trend$/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 - All three residences have three-bedroom layouts.
Where is this triplex located?
The property is located at 22-24 Clifton Street Portland, ME.
What is the asking price?
The asking price for this property is $887,000.
What are key features of this property?
This property features: Three units, each with three bedrooms; 4,379 square feet; Built in 1889
