Renovated Four-Unit Mixed-Use
For Sale
$2,250,000
69 Newbury Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size4,438 SF
Lot Size0.04 Acres
Price / SF$506.99
Days on Market87
Property Features for 69 Newbury Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
IS-FBC
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Basement, Bathroom 2, Bathroom 1, Bathroom 3
Parking features
Off Street
Basement
Walk-Out Access
Lot features
Level, Sidewalks, Intown, Near Public Beach, Near Shopping, Near Turnpike/ Interstate, Neighborhood, Near Public Transit
Standard status
Active
Size
4,438 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9946
Utilities
Sewer type
Public Sewer
Heating system
Oil, Heat Pump (Heating), Hot Water(Heating), Electric (Heating), Baseboard
Cooling system
Window Unit(s), Heat Pump
Water source
Public
Building Details
Year built
1905
Floors in Building
3
Number of units
4
Flooring type
Laminate, Hardwood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Harborview Properties, Inc.
Listed By:
Francis Curran
(207) 878-7802
Added: Jul 13
Changed: Sep 12
Last Checked: Oct 7 at 2:06PM
MLS# 1671572
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.
Located at 69 Newbury Street, this 4,438-square-foot mixed-use property combines three residential apartments with one commercial space. The apartments include two two-bedroom, one-bath layouts—one with a bonus room—and a three-bedroom, two-bath apartment. Residential and commercial areas feature updated kitchens, bathrooms, plumbing, electrical systems, and other recent improvements.
Capital work includes a 2023 roof, new siding, new windows, and three heat pumps. The 1905 wood-frame building has vinyl siding, hardwood, carpet, and laminate flooring, along with public water and public sewer. Off-street parking is provided, and the property is zoned IS-FBC.
The site is near the Eastern Promenade, East End Beach, the Old Port, Portland’s waterfront, restaurants, breweries, coffee shops, and local shops. Showings require an appointment with at least 48 hours’ notice.
Capital work includes a 2023 roof, new siding, new windows, and three heat pumps. The 1905 wood-frame building has vinyl siding, hardwood, carpet, and laminate flooring, along with public water and public sewer. Off-street parking is provided, and the property is zoned IS-FBC.
The site is near the Eastern Promenade, East End Beach, the Old Port, Portland’s waterfront, restaurants, breweries, coffee shops, and local shops. Showings require an appointment with at least 48 hours’ notice.
Key Highlights
- 4,438‑square‑foot mixed‑use building with three residential apartments and one commercial space
- Residential mix includes two 2‑bedroom, 1‑bath apartments and one 3‑bedroom, 2‑bath apartment
- 2023 roof, new siding, new windows, and three new heat pumps
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,963
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,459,260
$1.5M
Cap Rate 7%
$1,042,329
$1.0M
Cap Rate 9%
$810,700
$810.7K
Market Conditions
NOI Build-Up for 4,438 SF
Gross rent
$141.1K $31.80/SF
− Vacancy
−$8.5K −$1.91/SF
EGI
$132.7K $29.89/SF
− OpEx
−$59.7K −$13.45/SF
NOI
$73.0K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,459,260
Cap Rate 7%
$1,042,329
Cap Rate 9%
$810,700
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$912.0K – $1.22M
NOI $72,963 @ 7.0% cap · market cap 3.24%
Second Best
Mixed Use
$787.4K
$689.0K – $918.7K
NOI $55,120 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,385 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,730
Businesses Nearby
Explore this area
Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three apartments accompany one commercial space in a wood-frame building with off-street parking.
Where is this mixed-use property located?
The property is located at 69 Newbury Street Portland, ME.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 4,438‑square‑foot mixed‑use building with three residential apartments and one commercial space; Residential mix includes two 2‑bedroom, 1‑bath apartments and one 3‑bedroom, 2‑bath apartment; 2023 roof, new siding, new windows, and three new heat pumps
