Brick 4-Unit
For Sale
$1,224,000
52 Carleton Street, Portland, ME 04102
Four vacant residences include a two-bedroom apartment, two one-bedroom apartments, and a studio.
Property Size4,370 SF
Price / SF$280.09
Days on Market164
Property Features for 52 Carleton Street
General Information
Standard status
Active
Size
4,370 SF
Property subtype
Multi Family Home
Zoning
RN-4
Units
Unit Mix
1 x 2BR, 2 x 1BR, 1 x studio
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,838
Amenities
basement laundry
Building Details
Building Size
4,370 SF
Year Built
1900
Buildings
1
Units
4
Construction
brick
Listing Agency:
The Real Estate Store
(207) 883-4327
Listed By:
John Murphy · License #02078670
(207) 329-2047
Source:
Amerorealty
Added: May 22
Changed: Oct 31
Last Checked: Oct 31 at 2:14PM
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 The Real Estate Store
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Investment Insights
Based on property information with market context.
This 4,370-square-foot brick quadplex dates to 1900 and contains four residences: one two-bedroom unit, two one-bedroom units, and a studio. All four units are vacant. Interior details include hardwood flooring, high ceilings, pocket doors, and large windows. A basement laundry area, a roof replaced 3 years ago, and a boiler installed 2 years ago are also part of the property.
The building is at 52 Carleton Street in Portland’s West End and is zoned RN-4. A large barn provides additional space; conversion to a carriage house would be subject to approvals.
The building is at 52 Carleton Street in Portland’s West End and is zoned RN-4. A large barn provides additional space; conversion to a carriage house would be subject to approvals.
Key Highlights
- Four units: one 2‑bedroom, two 1‑bedroom, and one studio
- 4,370 square feet; built in 1900
- All units currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,224
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,544,480
$1.5M
Cap Rate 7%
$1,103,200
$1.1M
Cap Rate 9%
$858,044
$858.0K
Market Conditions
NOI Build-Up for 4,370 SF
Gross rent
$118.0K $27.00/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$110.3K $25.25/SF
− OpEx
−$33.1K −$7.57/SF
NOI
$77.2K $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%
$1,544,480
Cap Rate 7%
$1,103,200
Cap Rate 9%
$858,044
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$965.3K – $1.29M
NOI $77,224 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$1.03M
$898.1K – $1.20M
NOI $71,845 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,077 @ 7.0% cap · market cap 6.87%
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
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,626
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Quadplex - Four vacant residences include a two-bedroom apartment, two one-bedroom apartments, and a studio.
Where is this quadplex located?
The property is located at 52 Carleton Street Portland, ME.
What is the asking price?
The asking price for this property is $1,224,000.
What are key features of this property?
This property features: Four units: one 2‑bedroom, two 1‑bedroom, and one studio; 4,370 square feet; built in 1900; All units currently vacant
