Three-Unit Multifamily Building with
For Sale
$1,180,000
33 O'Brion Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size3,584 SF
Lot Size0.07 Acres
Price / SF$329.24
Days on Market49
Property Features for 33 O'Brion Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Basement, Bathroom 3
Parking features
Other, On Street
Basement
Full, Unfinished
Lot features
Well Landscaped, Sidewalks, Intown, Near Public Beach
Standard status
Active
Size
3,584 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14802
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating), Oil, Baseboard
Water source
Public
Amenities
rooftop deck
outdoor deck
side yard
Building Details
Year built
1884
Number of units
3
Flooring type
Vinyl, Carpet, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle, Flat, Membrane
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Jessica Wallimann
(207) 939-6832
Added: Jul 11
Changed: Aug 21
Last Checked: Aug 28 at 9:06PM
MLS# 1654046
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 3,584-square-foot triplex contains three separate residences across an 1884-built wood-frame structure with vinyl siding. The first-floor apartment includes three bedrooms and an office, while the second-floor unit offers two bedrooms. A one-bedroom apartment occupies the third floor and includes a rooftop deck with peeks of water views. Each residence has its own additional outdoor deck.
The property occupies 0.07 acres in Portland’s East End, a few blocks from the Eastern Promenade and near restaurants and the waterfront. A side yard can be reached from inside the building or through the abutting paper street. Public water and public sewer serve the property, with on-street parking available. R6 zoning applies.
The property occupies 0.07 acres in Portland’s East End, a few blocks from the Eastern Promenade and near restaurants and the waterfront. A side yard can be reached from inside the building or through the abutting paper street. Public water and public sewer serve the property, with on-street parking available. R6 zoning applies.
Key Highlights
- Three‑unit multifamily property with 3,584 SF of building area
- Unit mix includes three bedrooms plus office, two bedrooms, and one bedroom
- Private outdoor deck associated with each residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,335
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,266,700
$1.3M
Cap Rate 7%
$904,786
$904.8K
Cap Rate 9%
$703,722
$703.7K
Market Conditions
NOI Build-Up for 3,584 SF
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.
Gross rent
$96.8K $27.00/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$90.5K $25.25/SF
− OpEx
−$27.1K −$7.57/SF
NOI
$63.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,266,700
Cap Rate 7%
$904,786
Cap Rate 9%
$703,722
Alternative Uses
Best Use
Multifamily LT 5
$904.8K
$791.7K – $1.06M
NOI $63,335 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$841.8K
$736.5K – $982.1K
NOI $58,923 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$985.1K
$861.9K – $1.15M
NOI $68,955 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,298
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R6-zoned property with private outdoor space for each residence.
Where is this triplex located?
The property is located at 33 O'Brion Street Portland, ME.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 3,584 SF of building area; Unit mix includes three bedrooms plus office, two bedrooms, and one bedroom; Private outdoor deck associated with each residence
