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    7 Cherry St Portland, ME 04102

    New
    For Sale
    $740,000

    MULTI_FAMILY - Other - Portland, ME

    Property size:
    2,923 SF
    Lot size:
    0.18 Acres
    Days on Market:
    4
    Last Refresh:
    Dec 5 at 2:06 am

    Property Features for 7 Cherry St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R6
    Rooms
    Basement, Bathroom 1, Bathroom 3, Bathroom 2
    Patio and Porch features
    Deck
    Basement
    Unfinished, Full, Walk-Out Access
    Size
    2,923 SF
    Lot size
    0.18 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Baseboard
    Water source
    Public

    Building Details

    Year built
    1875
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Laminate
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle
    Architectural style
    Other

    RE/MAX Oceanside (207) 799-7600 [email protected]

    Listing agent Douglas Schauf Jr. (207) 799-7600

    Listing date Dec 2, 2025

    MLS# 1644239 Listing URL

    Copyright © 2025 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Property in Growing Market

    This three-unit multifamily property at 7 Cherry Street presents a strong investment opportunity in Portland, Maine. The property is located minutes from downtown, the Old Port, restaurants, amenities, and major commuter routes. The building features functional layouts and a solid rental history. This property is suitable for investors seeking stable cash flow, long-term appreciation, or a value-add opportunity. The property size is 2923 square feet and the lot size is 0.18 acres. The zoning is R6. This property is located in Cumberland County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.282001
    Latitude
    43.65448

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    FAQs

    What type of property is this?
    Triplex - Three-unit multifamily property in Portland, Maine, with strong rental potential.
    Where is this triplex located?
    The property is located at 7 Cherry St Portland, ME.
    What is the asking price?
    The asking price for this property is $740,000.
    What are key features of this property?
    This property features: - Strong rental potential in a desirable and growing market (Portland, Maine).; - Minutes from downtown, Old Port, restaurants, amenities, and major commuter routes.; - Ideal for investors seeking stable cash flow, long-term appreciation, or value-add opportunities.
    (207) 799-7600
    Request Owner's contact information
    7 Cherry St Portland, ME 04102
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7 Cherry St Portland, ME 04102
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