Three-Unit Multifamily
For Sale
$885,000
268 Concord Street W, Portland, ME 04103
Multi-Family, Portland, ME
Property Size3,688 SF
Lot Size0.22 Acres
Price / SF$239.97
Days on Market92
Property Features for 268 Concord Street W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bathroom 2, Bathroom 1
Parking features
On Street
Patio and Porch features
Deck, Patio
Pets allowed
No
Fencing
Fenced
Basement
Unfinished, Full
Lot features
Open, Sidewalks, Near Shopping, Neighborhood, Near Public Transit
Standard status
Active
Size
3,688 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10669
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
off-street parking
garage
backyard
Building Details
Year built
1879
Floors in Building
3
Number of units
3
Flooring type
Carpet, Tile, Wood
Building materials
Wood Frame, Vinyl Siding, Wood Siding
Roof type
Shingle
Listing Agency:
Greater Portland Realty
(207) 797-7777
Listed By:
Anthony Galli
(207) 776-1717
Added: Jul 7
Changed: Sep 12
Last Checked: Oct 6 at 9:06AM
MLS# 1669373
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.
Built in 1879, this RN-3 multifamily property contains 3 established units within a 3,688-square-foot wood-frame building. The structure features vinyl and wood siding, tile, wood, and carpet flooring, natural-gas baseboard heat, a shingle roof, and public water and sewer. Finished space may support a fourth unit, subject to buyer verification of city approvals and permitted use.
The 0.22-acre parcel includes a fenced backyard, patio, and deck. The property is located on Concord Street W in Portland's Deering Center/Rosemont area, within walking distance of the University of New England, the University of Southern Maine, Rosemont Market, neighborhood shops, restaurants, and everyday amenities. Evergreen Woods, with approximately four miles of walking and hiking trails, is also nearby.
The 0.22-acre parcel includes a fenced backyard, patio, and deck. The property is located on Concord Street W in Portland's Deering Center/Rosemont area, within walking distance of the University of New England, the University of Southern Maine, Rosemont Market, neighborhood shops, restaurants, and everyday amenities. Evergreen Woods, with approximately four miles of walking and hiking trails, is also nearby.
Key Highlights
- 3 established residential units in a 3,688‑square‑foot building
- Finished space may support a fourth unit, subject to city approvals and permitted use
- RN‑3 zoning on a 0.22‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,172
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,303,440
$1.3M
Cap Rate 7%
$931,029
$931.0K
Cap Rate 9%
$724,133
$724.1K
Market Conditions
NOI Build-Up for 3,688 SF
Gross rent
$99.6K $27.00/SF
− Vacancy
−$6.5K −$1.76/SF
EGI
$93.1K $25.25/SF
− OpEx
−$27.9K −$7.57/SF
NOI
$65.2K $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%
$1,303,440
Cap Rate 7%
$931,029
Cap Rate 9%
$724,133
Alternative Uses
Best Use
Multifamily LT 5
$931.0K
$814.7K – $1.09M
NOI $65,172 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$866.2K
$757.9K – $1.01M
NOI $60,633 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$1.01M
$886.9K – $1.18M
NOI $70,955 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
726
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 - Wood-frame multifamily property with finished additional space, a fenced yard, patio, and deck.
Where is this triplex located?
The property is located at 268 Concord Street W Portland, ME.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 3 established residential units in a 3,688‑square‑foot building; Finished space may support a fourth unit, subject to city approvals and permitted use; RN‑3 zoning on a 0.22‑acre parcel
