Five-Unit Multifamily with Owner
32 Clemons Street South Portland, ME 04106
32 Clemons Street, South Portland, ME, 04106
$1,100,000
For Sale
$1,100,000
MULTI_FAMILY - Other - South Portland, ME
Property Size3,990 SF
Lot Size0.60 Acres
Price / SF$275.69
Days on Market18
Property Features for 32 Clemons Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RA
- Bathrooms
- 6
- Rooms
- Basement, Bathroom 6, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4
- Parking features
- Off Street
- Patio and Porch features
- Patio, Porch, Deck
- Interior features
- Other Amenities, 1st Floor Bedroom, Bathtub, One-Floor Living
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 3,990 SF
- Lot size
- 0.60 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 11636
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Baseboard, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1930
- Number of units
- 5
- Flooring type
- Tile, Hardwood, Wood, Carpet, Vinyl
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
- Additional Structures
- Outbuilding, Other
Listing Agency
Benchmark Real Estate
(207) 775-0248
72 Pine St # 16, Portland, ME
Listed by
Thomas Landry
(207) 775-0248
Added: Jul 1 Checked: Jul 18 at 2:06 pm
MLS# 1665032
Listing URL
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.
This five-unit multifamily property includes three one-bedroom apartments, one studio apartment, and a spacious two-bedroom owner’s unit. The owner’s residence features a townhouse-style layout with expansive living areas and bonus space, along with a great room. Building improvements referenced in the listing include roofing, a rebuilt front fire escape and deck system, electrical upgrades, and exterior improvements. Heat and hot water are provided through an efficient natural gas boiler, while tenants pay their own electricity. Exterior features include a brick patio and grounds with a circular driveway, mature gardens, green space, and a detached one-car garage.
The property is located at 32 Clemons Street in South Portland, Maine, on approximately 0.60 acres. The listing also notes views toward the Portland skyline and Casco Bay from the private deck.
Financial information provided in the offering states approximately $88,000 in net operating income and a 6.4% cap rate, with current rents described as below market. The property is presented as a turnkey opportunity with extensive capital improvements.
The property is located at 32 Clemons Street in South Portland, Maine, on approximately 0.60 acres. The listing also notes views toward the Portland skyline and Casco Bay from the private deck.
Financial information provided in the offering states approximately $88,000 in net operating income and a 6.4% cap rate, with current rents described as below market. The property is presented as a turnkey opportunity with extensive capital improvements.
Key Highlights
- Five‑unit multifamily with three 1‑bedroom units, one studio, and a spacious 2‑bedroom owner’s unit.
- Approx. 0.60‑acre lot with circular driveway, mature gardens, green space, and a detached 1‑car garage.
- Owner’s residence includes a townhouse‑style layout with expansive living areas and a private deck with views toward the Portland skyline and Casco Bay.
Local Financial Insights For Apartment 5plus
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 | $126.9k | $31.80 |
| − Vacancy | −$7.6k | −$1.91 |
| EGI | $119.3k | $29.89 |
| − OpEx | −$53.7k | −$13.45 |
| NOI | $65.6k | $16.44 |
3,990 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$937.1K
$820.0K – $1.09M
NOI $65,598 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$959.6K – $1.28M
NOI $76,766 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit multifamily with three one-bed apartments, one studio, and a two-bedroom townhouse-style owner residence.
Where is this apartment building located?
The property is located at 32 Clemons Street South Portland, ME.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five‑unit multifamily with three 1‑bedroom units, one studio, and a spacious 2‑bedroom owner’s unit.; Approx. 0.60‑acre lot with circular driveway, mature gardens, green space, and a detached 1‑car garage.; Owner’s residence includes a townhouse‑style layout with expansive living areas and a private deck with views toward the Portland skyline and Casco Bay.
