Three-Unit Residential
For Sale
$875,000
28 Saint George Street, Portland, ME 04103
Each apartment has two bedrooms and one full bath, with basement laundry and a private porch for every unit.
Property Size2,829 SF
Price / SF$309.30
Days on Market172
Property Features for 28 Saint George Street
General Information
Standard status
Active
Size
2,829 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
R-5
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,248
Amenities
shared laundry area
private porches
Building Details
Building Size
2,829 SF
Year Built
1890
Units
3
Listing Agency:
Portside Real Estate Group
(207) 536-4222
Listed By:
Eric Meadows Margaret {Maggie} Ellis
(207) 405-1953
Source:
Amerorealty
Added: May 5
Changed: Oct 22
Last Checked: Oct 22 at 2:23PM
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
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Investment Insights
Based on property information with market context.
Built in 1890, this three-unit residential property contains 2,829 square feet. Each apartment is configured with two bedrooms, one full bath, a living room, dining area, and kitchen. Hardwood floors and updated bathrooms are among the interior features. A shared laundry area is located in the basement, with an additional washer and dryer hookup for Unit 1.
The property at 28 Saint George Street in Portland includes a driveway, a four-car garage, and a porch for each apartment. It is zoned R-5 and is near restaurants, the University of Southern Maine, and downtown Portland.
The property at 28 Saint George Street in Portland includes a driveway, a four-car garage, and a porch for each apartment. It is zoned R-5 and is near restaurants, the University of Southern Maine, and downtown Portland.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 full bath
- 2,829 square feet; built in 1890
- Four‑car garage and driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,993
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,860
$999.9K
Cap Rate 7%
$714,186
$714.2K
Cap Rate 9%
$555,478
$555.5K
Market Conditions
NOI Build-Up for 2,829 SF
Gross rent
$76.4K $27.00/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$71.4K $25.25/SF
− OpEx
−$21.4K −$7.57/SF
NOI
$50.0K $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%
$999,860
Cap Rate 7%
$714,186
Cap Rate 9%
$555,478
Alternative Uses
Best Use
Multifamily LT 5
$714.2K
$624.9K – $833.2K
NOI $49,993 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$664.4K
$581.4K – $775.2K
NOI $46,510 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$777.6K
$680.4K – $907.2K
NOI $54,429 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,172
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment has two bedrooms and one full bath, with basement laundry and a private porch for every unit.
Where is this triplex located?
The property is located at 28 Saint George Street Portland, ME.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 full bath; 2,829 square feet; built in 1890; Four‑car garage and driveway parking
