Triplex with Double
For Sale
$949,000
47 Frederic Street, Portland, ME 04102
Multi-Family, Portland, ME
Property Size3,570 SF
Lot Size0.22 Acres
Price / SF$265.83
Days on Market106
Property Features for 47 Frederic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
13
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 2, Bathroom 1, Bathroom 3
Basement
Full
Lot features
Near Country Club, Well Landscaped, Level, Sidewalks, Intown, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/ Interstate, Neighborhood
Standard status
Active
Size
3,570 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
236
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Baseboard
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1930
Number of units
3
Flooring type
Wood, Carpet, Vinyl
Building materials
Wood Frame, Clapboard
Roof type
Membrane
Architectural style
Other
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
David Jones · License #DB918088
(207) 650-3455
Added: Jul 2
Changed: Oct 8
Last Checked: Oct 15 at 6:06AM
MLS# 1669965
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 triplex contains 3,570 square feet on a 0.22-acre double lot in Portland. Built in 1930, the wood-frame structure features clapboard siding, a membrane roof, carpet, wood, and vinyl flooring, plus a basement and three bathrooms. Heating is provided by heat pumps and baseboard systems, with heat-pump cooling.
The property is scheduled to be unoccupied at the time of sale, allowing the next owner to take possession without existing occupants. Public water and public sewer serve the building, and zoning is identified as 13. The asset is located in Portland, Maine, within Cumberland County.
The property is scheduled to be unoccupied at the time of sale, allowing the next owner to take possession without existing occupants. Public water and public sewer serve the building, and zoning is identified as 13. The asset is located in Portland, Maine, within Cumberland County.
Key Highlights
- Triplex with 3,570 square feet of building area
- 0.22‑acre double lot in Portland, ME
- Units expected to be unoccupied at time of sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,087
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,261,740
$1.3M
Cap Rate 7%
$901,243
$901.2K
Cap Rate 9%
$700,967
$701.0K
Market Conditions
NOI Build-Up for 3,570 SF
Gross rent
$96.4K $27.00/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$90.1K $25.25/SF
− OpEx
−$27.0K −$7.57/SF
NOI
$63.1K $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%
$1,261,740
Cap Rate 7%
$901,243
Cap Rate 9%
$700,967
Alternative Uses
Best Use
Multifamily LT 5
$901.2K
$788.6K – $1.05M
NOI $63,087 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$838.5K
$733.7K – $978.2K
NOI $58,693 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$981.2K
$858.6K – $1.14M
NOI $68,685 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,241
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property offered vacant at sale, with public water and sewer service.
Where is this triplex located?
The property is located at 47 Frederic Street Portland, ME.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Triplex with 3,570 square feet of building area; 0.22‑acre double lot in Portland, ME; Units expected to be unoccupied at time of sale
