Three-Unit Residential
For Sale
$799,000
33 Payson Street, Portland, ME 04102
Three apartments include private decks and off-street parking in Portland’s USM/Oakdale neighborhood.
Property Size3,136 SF
Price / SF$254.78
Days on Market157
Property Features for 33 Payson Street
General Information
Standard status
Active
Size
3,136 SF
Property subtype
Multi Family Home
Zoning
RN-3
Units
Unit Mix
2 x 3BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,979
Building Details
Building Size
3,136 SF
Year Built
1900
Units
3
Listing Agency:
Vitalius Real Estate Group, LLC
Listed By:
Briton Vitalius
(207) 541-3755
Source:
Amerorealty
Added: May 29
Changed: Oct 31
Last Checked: Oct 31 at 2:29PM
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 Vitalius Real Estate Group, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,136-square-foot triplex, built in 1900, contains three apartments. One three-bedroom unit has an open kitchen and living area, along with two separate rooms suited to storage or other uses; it is to be delivered vacant. A second three-bedroom apartment includes a rear deck. The one-bedroom unit features vaulted ceilings and a separate deck.
The property is at 33 Payson Street in Portland’s USM/Oakdale neighborhood. Off-street parking and a yard are also part of the property, and the zoning designation is RN-3.
The property is at 33 Payson Street in Portland’s USM/Oakdale neighborhood. Off-street parking and a yard are also part of the property, and the zoning designation is RN-3.
Key Highlights
- Three‑unit property with 3,136 square feet; built in 1900
- Unit 1 is to be delivered vacant and has 3 bedrooms, an open kitchen‑living area, and 2 separate rooms
- Second apartment has 3 bedrooms and a rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,418
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,108,360
$1.1M
Cap Rate 7%
$791,686
$791.7K
Cap Rate 9%
$615,756
$615.8K
Market Conditions
NOI Build-Up for 3,136 SF
Gross rent
$84.7K $27.00/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$79.2K $25.25/SF
− OpEx
−$23.8K −$7.57/SF
NOI
$55.4K $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%
$1,108,360
Cap Rate 7%
$791,686
Cap Rate 9%
$615,756
Alternative Uses
Best Use
Multifamily LT 5
$791.7K
$692.7K – $923.6K
NOI $55,418 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$736.5K
$644.5K – $859.3K
NOI $51,558 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$861.9K
$754.2K – $1.01M
NOI $60,335 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,425
Businesses Nearby
Explore this area
Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments include private decks and off-street parking in Portland’s USM/Oakdale neighborhood.
Where is this triplex located?
The property is located at 33 Payson Street Portland, ME.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three‑unit property with 3,136 square feet; built in 1900; Unit 1 is to be delivered vacant and has 3 bedrooms, an open kitchen‑living area, and 2 separate rooms; Second apartment has 3 bedrooms and a rear deck
