3-Unit Triplex with Off-Street
49 Montrose Avenue, Portland, ME 04103
For Sale
$1,249,900
Each residence includes in-unit laundry, hardwood floors, a fireplace, and outdoor space.
Property Size5,358 SF
Price / SF$233.28
Days on Market222
Property Features for 49 Montrose Avenue
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
laundry
fireplace
front porch
rear deck
yard
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Dan Anderson Real Estate, Inc.
(207) 878-3206
Listed By:
Daniel Anderson
(207) 712-3741
Source:
Integrityhomesrealestategroup
Added: Apr 7
Changed: Nov 11
Last Checked: Nov 13 at 7:27PM
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 Dan Anderson Real Estate, Inc.
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Investment Insights
Based on property information with market context.
Built in 1930, this RN3-zoned triplex contains 5,358 square feet across three residences. The building measures 28 by 64 feet, with each unit offering six rooms, a foyer, and a storage room. In-unit features include laundry, hardwood flooring, a fireplace, a front porch, and a rear deck. The first-floor residence has a private entrance and 1.5 bathrooms; the second and third units each have one bathroom and have undergone recent updates.
The property also has yard space and off-street parking. Improvements made during the longtime owner's tenure include both capital and cosmetic work.
The property also has yard space and off-street parking. Improvements made during the longtime owner's tenure include both capital and cosmetic work.
Key Highlights
- Three units totaling 5,358 square feet
- 28‑by‑64‑foot building, built in 1930
- Each unit has laundry, hardwood flooring, a fireplace, front porch, rear deck, six rooms, foyer, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,684
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,893,680
$1.9M
Cap Rate 7%
$1,352,629
$1.4M
Cap Rate 9%
$1,052,044
$1.1M
Market Conditions
NOI Build-Up for 5,358 SF
Gross rent
$144.7K $27.00/SF
− Vacancy
−$9.4K −$1.76/SF
EGI
$135.3K $25.25/SF
− OpEx
−$40.6K −$7.57/SF
NOI
$94.7K $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%
$1,893,680
Cap Rate 7%
$1,352,629
Cap Rate 9%
$1,052,044
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,684 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,089 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,086 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
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Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Portland, ME
Properties on Market for Triplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence includes in-unit laundry, hardwood floors, a fireplace, and outdoor space.
Where is this triplex located?
The property is located at 49 Montrose Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Three units totaling 5,358 square feet; 28‑by‑64‑foot building, built in 1930; Each unit has laundry, hardwood flooring, a fireplace, front porch, rear deck, six rooms, foyer, and storage
