3-Unit Triplex with Rooftop
New
For Sale
$1,165,000
33 Obrion St, Portland, ME 04101
Apartments range from one to three bedrooms, and the largest includes a separate office.
Property Size3,584 SF
Price / SF$325.06
Days on Market4
Property Features for 33 Obrion St
General Information
Standard status
Active
Size
3,584 SF
Property subtype
Multifamily
Units
Unit Mix
1 x 3BR + office, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Amenities
rooftop deck
outdoor deck
side yard
Building Details
Year Built
1884
Buildings
1
Stories
3
Listing Agency:
(207) 310-8592
Listed By:
Carol Kline
Source:
Klinerealtygroup
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:06AM
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 Carol Kline
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Investment Insights
Based on property information with market context.
Built in 1884, this 3,584-square-foot Portland triplex contains three apartments. The first-floor home has three bedrooms and an office, the second-floor unit has two bedrooms, and the top-floor apartment has one bedroom. Each unit has its own deck, while the upper apartment also opens onto a rooftop deck with partial water views. A side yard can be reached from inside the building or from the adjoining paper street.
The property is on Obrion Street in Portland’s East End, a few blocks from the Eastern Promenade. Restaurants and the waterfront are also nearby.
The property is on Obrion Street in Portland’s East End, a few blocks from the Eastern Promenade. Restaurants and the waterfront are also nearby.
Key Highlights
- Three apartments with one-, two-, and three‑bedroom layouts; the largest includes an office
- 3,584 square feet; built in 1884
- Private deck for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,335
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
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
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 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 5.44%
Second Best
Apartment 5plus
$841.8K
$736.5K – $982.1K
NOI $58,923 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$985.1K
$861.9K – $1.15M
NOI $68,955 @ 7.0% cap · market cap 5.92%
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
1,298
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Apartments range from one to three bedrooms, and the largest includes a separate office.
Where is this triplex located?
The property is located at 33 Obrion St Portland, ME.
What is the asking price?
The asking price for this property is $1,165,000.
What are key features of this property?
This property features: Three apartments with one-, two-, and three‑bedroom layouts; the largest includes an office; 3,584 square feet; built in 1884; Private deck for each apartment
