3-Unit Multifamily with
For Sale
$995,000
46 Avon Street, Portland, ME 04101
The property combines a two-bedroom residence with a one-bedroom apartment and a studio.
Property Size1,977 SF
Price / SF$503.29
Days on Market220
Property Features for 46 Avon Street
General Information
Standard status
Active
Size
1,977 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
RN- 4
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 1BR, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,773
Amenities
sauna
in-unit laundry
private deck
cupola retreat
Building Details
Building Size
1,977 SF
Year Built
1890
Units
3
Construction
Second Empire
Listing Agency:
Vitalius Real Estate Group, LLC
Listed By:
Briton Vitalius
(207) 541-3755
Source:
Patryfamilyrealty
Added: Apr 1
Changed: Nov 2
Last Checked: Nov 6 at 3:50AM
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
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Investment Insights
Based on property information with market context.
This 1,977-square-foot multifamily property dates to 1890 and contains three units. The primary residence spans the second and third floors, with two bedrooms, 1.5 baths, a sauna, in-unit laundry, and a private deck. A separate one-bedroom apartment and a studio complete the layout. Three deeded parking spaces serve the property, which is zoned RN- 4. A cupola provides city views and partial views of Back Cove.
The property is near Congress Street, Longfellow Square, and the Portland Museum of Art, as well as Boda, LFK, and Hot Suppa.
The property is near Congress Street, Longfellow Square, and the Portland Museum of Art, as well as Boda, LFK, and Hot Suppa.
Key Highlights
- Three units: a two‑bedroom residence, a one‑bedroom apartment, and a studio
- 1,977 square feet; built in 1890
- Three deeded parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,503
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,060
$650.1K
Cap Rate 7%
$464,329
$464.3K
Cap Rate 9%
$361,144
$361.1K
Market Conditions
NOI Build-Up for 1,977 SF
Gross rent
$62.9K $31.80/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$59.1K $29.89/SF
− OpEx
−$26.6K −$13.45/SF
NOI
$32.5K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,060
Cap Rate 7%
$464,329
Cap Rate 9%
$361,144
Alternative Uses
Best Use
Apartment 5plus
$464.3K
$406.3K – $541.7K
NOI $32,503 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.4K
$475.5K – $634.0K
NOI $38,037 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,906
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
$600,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Portland, ME
Properties on Market for Multifamily properties in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property combines a two-bedroom residence with a one-bedroom apartment and a studio.
Where is this multifamily property located?
The property is located at 46 Avon Street Portland, ME.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three units: a two‑bedroom residence, a one‑bedroom apartment, and a studio; 1,977 square feet; built in 1890; Three deeded parking spaces
