Three-Unit Residential Income
47 Frederic Street Portland, ME 04102
47 Frederic Street, Portland, ME, 04102
$949,000
For Sale
$949,000
Three-unit building on a double lot in Portland, offered as a package, with units unoccupied at sale.
Property Size3,570 SF
Price / SF$265.83
Days on Market37
Property Features for 47 Frederic Street
General Information
- Standard status
- Active
- Size
- 3,570 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1930
Listing Agency
F.O. Bailey Real Estate
Listed by
David Jones
(603) 433-3350
Source
Greatislandrealty
Added: Jun 15 Updated: Jul 20 at 3:03 am Checked: Jul 20 at 3:03 am
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 F.O. Bailey Real Estate
Investment Insights
Based on property information with market context.
This three-unit residential income property is situated on a double lot and is being offered as part of a package. The units will be unoccupied at the time of sale, providing a clear start for an owner who wants to reposition the asset. The property includes outdoor space described as having a great back yard, and it is also described as having development potential.
Located at 47 Frederic Street in Portland, Maine, the double-lot configuration may be appealing to buyers looking for options beyond the existing three units. The offering structure and vacant status at closing should streamline transition planning for the next owner.
Located at 47 Frederic Street in Portland, Maine, the double-lot configuration may be appealing to buyers looking for options beyond the existing three units. The offering structure and vacant status at closing should streamline transition planning for the next owner.
Key Highlights
- Three‑unit building on a double lot in Portland
- Year built: 1930
- Offered as a package
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.4k | $27.00 |
| − Vacancy | −$6.3k | −$1.76 |
| EGI | $90.1k | $25.25 |
| − OpEx | −$27.0k | −$7.57 |
| NOI | $63.1k | $17.67 |
3,570 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit building on a double lot in Portland, offered as a package, with units unoccupied at sale.
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: Three‑unit building on a double lot in Portland; Year built: 1930; Offered as a package
