Five-Unit Multifamily
146 Sherman Street, Portland, ME 04101
New
MULTI_FAMILY - Colonial - Portland, ME
Property size:
5,650 SFLot size:
0.10 AcresPrice / SF:
$233/SF- Added:
- Jun 19, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 21 at 11:06 pm
Property Features for 146 Sherman Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6
- Bathrooms
- 6
- Rooms
- Bathroom 4, Bathroom 3, Basement, Bathroom 5, Bathroom 6, Bathroom 2, Bathroom 1
- Parking features
- Off Street, Driveway
- Interior features
- Bathtub, Shower
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 5,650 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 12664
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Baseboard, Other (Heating), Forced Air, Hot Water(Heating), Natural Gas
- Water source
- Public
Building Details
- Year built
- 1910
- Number of units
- 5
- Flooring type
- Vinyl, Wood, Carpet
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Colonial
Listing agent Christopher St.Pierre (207) 650-6749
Listing office EXP Realty 41 Hutchins Drive Building 3, Rangeley, ME (888) 439-8743
Listing date Jun 19, 2026
MLS# 1668085
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.
HighLights
- 5‑unit multifamily property in Portland’s West End
- City safety inspection completed; third floor split into two 2‑bedroom units instead of one combined 4‑bedroom unit
- Built in 1910 with colonial architectural style
- Public water and public sewer
- Natural gas heating with zoned, baseboard, forced air, and hot water (per heating sources)
- Off‑street parking with driveway; wood frame with vinyl siding and a shingle roof
Overview
This five-unit Colonial-style multifamily property is configured with four two-bedroom units and two one-bedroom units, providing multiple apartment layouts within one building. The property has a city safety inspection on record, with the third-floor space completed as two separate two-bedroom units rather than one combined four-bedroom unit. The listing also notes that the current owner has offered the units to employees at a discounted rental rate.
Located at 146 Sherman Street in Portland, Maine (04101), the property is described as being minutes from Downtown Portland, Maine Medical Center, restaurants and shops, and public transportation. Zoning is listed as R6, and the lot size is 0.1 acres. The building size is listed at 5,650 square feet.
For investors or owner-operators seeking a small-scale income property in Portland, the unit mix of one-bedroom and two-bedroom apartments can support tenant flexibility and re-leasing across different household needs. The R6 zoning designation may be relevant for buyers reviewing permitted residential uses and future planning. Group showings are scheduled for Tuesday, June 23rd from 10:00 a.m. to 11:30 a.m. and Thursday, June 25th from 12:00 p.m. to 1:30 p.m., with appointments only after the group showings; advance notice of at least 24 hours is required to arrange access.
Located at 146 Sherman Street in Portland, Maine (04101), the property is described as being minutes from Downtown Portland, Maine Medical Center, restaurants and shops, and public transportation. Zoning is listed as R6, and the lot size is 0.1 acres. The building size is listed at 5,650 square feet.
For investors or owner-operators seeking a small-scale income property in Portland, the unit mix of one-bedroom and two-bedroom apartments can support tenant flexibility and re-leasing across different household needs. The R6 zoning designation may be relevant for buyers reviewing permitted residential uses and future planning. Group showings are scheduled for Tuesday, June 23rd from 10:00 a.m. to 11:30 a.m. and Thursday, June 25th from 12:00 p.m. to 1:30 p.m., with appointments only after the group showings; advance notice of at least 24 hours is required to arrange access.
Local Financial Insights For Apartment 5plus
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 | $179.7k | $31.80 |
| − Vacancy | −$10.8k | −$1.91 |
| EGI | $168.9k | $29.89 |
| − OpEx | −$76.0k | −$13.45 |
| NOI | $92.9k | $16.44 |
5,650 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,703 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.272635
- Latitude
- 43.654885
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Colonial-style building with four two-bedroom and two one-bedroom units, supporting a balanced rental mix.
Where is this apartment building located?
The property is located at 146 Sherman Street Portland, ME.
What is the asking price?
The asking price for this property is $1,319,000.
What are key features of this property?
This property features: 5‑unit multifamily property in Portland’s West End; City safety inspection completed; third floor split into two 2‑bedroom units instead of one combined 4‑bedroom unit; Built in 1910 with colonial architectural style
