Four-Unit Apartment
315 Brackett Street, Portland, ME 04102
New
MULTI_FAMILY - Other - Portland, ME
Property size:
2,360 SFLot size:
0.04 AcresPrice / SF:
$349/SF- Added:
- Jun 19, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 22 at 2:06 am
Property Features for 315 Brackett Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RN-4
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bathroom 3, Basement, Bathroom 2, Bathroom 1
- Parking features
- Off Street
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 2,360 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8852
Utilities
- Sewer type
- Public Sewer
- Heating system
- Other (Heating), Natural Gas, Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1874
- Number of units
- 4
- Flooring type
- Vinyl, Tile - Ceramic, Wood, Linoleum, Carpet
- Building materials
- Wood Frame, Shingle Siding, Wood Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Troy Wilkins (207) 252-5940
Listing office Benchmark Real Estate 72 Pine St # 16, Portland, ME (207) 775-0248
Listing date Jun 19, 2026
MLS# 1660723
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
- 4‑unit apartment building built in 1874
- Well‑maintained with off‑street parking (1–2 spots)
- Public utilities: public water and public sewer
- Heating includes natural gas and heat pump; cooling provided by heat pump
- Large basement for storage
- Roofing: shingle roof; construction materials include wood frame with shingle and wood siding
Overview
This well-maintained four-unit apartment building offers a straightforward residential income setup with classic Portland character throughout. The property includes 1–2 off-street parking spots and a large basement that provides storage space. With a total building size of 2,360 square feet on a 0.04-acre lot, it is sized for an owner looking for manageable multifamily operations in an established residential area.
Located in Portland’s West End, the building is just minutes from Maine Medical Center. The surrounding area includes nearby restaurants and coffee shops, as well as proximity to the Western Promenade, downtown Portland, Hadlock Field, and Fitzpatrick Stadium. Zoning is RN-4.
For tenants or buyers seeking a convenient, residential income property, this configuration supports a variety of occupancy needs. The location’s close access to major medical facilities may be particularly appealing to traveling healthcare professionals, and the on-site parking and basement storage help support day-to-day tenant functionality. This is a practical option for investors and operators interested in a well-kept multifamily asset in a highly regarded Portland neighborhood.
Located in Portland’s West End, the building is just minutes from Maine Medical Center. The surrounding area includes nearby restaurants and coffee shops, as well as proximity to the Western Promenade, downtown Portland, Hadlock Field, and Fitzpatrick Stadium. Zoning is RN-4.
For tenants or buyers seeking a convenient, residential income property, this configuration supports a variety of occupancy needs. The location’s close access to major medical facilities may be particularly appealing to traveling healthcare professionals, and the on-site parking and basement storage help support day-to-day tenant functionality. This is a practical option for investors and operators interested in a well-kept multifamily asset in a highly regarded Portland neighborhood.
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 | $63.7k | $27.00 |
| − Vacancy | −$4.1k | −$1.76 |
| EGI | $59.6k | $25.25 |
| − OpEx | −$17.9k | −$7.57 |
| NOI | $41.7k | $17.67 |
2,360 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$595.8K
$521.3K – $695.1K
NOI $41,705 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$554.3K
$485.0K – $646.7K
NOI $38,800 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$648.6K
$567.6K – $756.8K
NOI $45,405 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.273553
- Latitude
- 43.652894
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Well-maintained four-unit building minutes from Maine Medical Center, with off-street parking and substantial basement storage.
Where is this quadplex located?
The property is located at 315 Brackett Street Portland, ME.
What is the asking price?
The asking price for this property is $824,900.
What are key features of this property?
This property features: 4‑unit apartment building built in 1874; Well‑maintained with off‑street parking (1–2 spots); Public utilities: public water and public sewer
