Permitted Quadplex
126 Danforth Street Portland, ME 04101
126 Danforth Street, Portland, ME, 04101
$1,195,000
For Sale
$1,195,000
MULTI_FAMILY - Federal - Portland, ME
Property Size3,849 SF
Lot Size0.11 Acres
Price / SF$310.47
Days on Market11
Property Features for 126 Danforth Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RN-4
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 3, Bathroom 4, Basement, Bathroom 2
- Patio and Porch features
- Deck
- Interior features
- 1st Floor Bedroom, Shower
- Basement
- Walk-Out Access, Full, Finished
- Standard status
- Active
- Size
- 3,849 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 14008
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating), Electric (Heating), Baseboard
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Wood, Tile
- Building materials
- Masonry, Wood Frame, Brick
- Roof type
- Shingle
- Architectural style
- Federal
Listing Agency
Town & Shore Real Estate
(207) 773-0262
One Union Wharf, Portland, ME
Listed by
Jeffrey Davis
(207) 233-9423
Added: Jul 8 Checked: Jul 18 at 7:06 am
MLS# 1656763
Listing URL
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.
126 Danforth Street is a four-unit quadplex development currently about 80% complete, with permits in place and available documentation for condominium creation. The project is being finished with “condo-quality” unit layouts, and three of the units include bonus rooms with bathrooms on the lower level, which can support uses like home offices or additional bedrooms. Substantial work is already installed, including new plumbing, electrical, sprinkler system, windows, exterior pointing, rear decks, rockwool insulation, and drywall, leaving room for a new owner to select remaining finish details such as flooring and kitchen cabinetry.
The property is located at 126 Danforth Street in Portland’s West End area, with open green space next door that provides light and urban views. Off-street parking is available in a paved lot with four spaces.
For buyers seeking a hands-on residential income or ownership setup, this permitted, partially completed quadplex offers a straightforward path to completing four distinct units after taking over the remaining interior and finish work. With drafts of condominium documents slated to be available to new owners, it may also fit buyers looking to finalize the project for condominium or rental use depending on how they structure the completed offering. Zoning is RN-4.
The property is located at 126 Danforth Street in Portland’s West End area, with open green space next door that provides light and urban views. Off-street parking is available in a paved lot with four spaces.
For buyers seeking a hands-on residential income or ownership setup, this permitted, partially completed quadplex offers a straightforward path to completing four distinct units after taking over the remaining interior and finish work. With drafts of condominium documents slated to be available to new owners, it may also fit buyers looking to finalize the project for condominium or rental use depending on how they structure the completed offering. Zoning is RN-4.
Key Highlights
- 80% completed four‑unit condo‑quality conversion at 126 Danforth St (left‑hand side of building for sale)
- Permits in place with condominium document draft available to new owners
- New plumbing, electrical, sprinkler system, windows, exterior pointing, rear decks, rockwool insulation, and drywall
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 | $103.9k | $27.00 |
| − Vacancy | −$6.8k | −$1.76 |
| EGI | $97.2k | $25.25 |
| − OpEx | −$29.2k | −$7.57 |
| NOI | $68.0k | $17.67 |
3,849 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$971.7K
$850.2K – $1.13M
NOI $68,018 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$904.0K
$791.0K – $1.05M
NOI $63,280 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.06M
$925.7K – $1.23M
NOI $74,053 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit project with permits in place and interior systems substantially completed, plus four off-street parking spaces.
Where is this quadplex located?
The property is located at 126 Danforth Street Portland, ME.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 80% completed four‑unit condo‑quality conversion at 126 Danforth St (left‑hand side of building for sale); Permits in place with condominium document draft available to new owners; New plumbing, electrical, sprinkler system, windows, exterior pointing, rear decks, rockwool insulation, and drywall
