6-Unit Apartment
For Sale
$1,325,000
10 Adelaide Street, Portland, ME 04103
Private entrances, separate utility metering, rear parking, and shared laundry serve the apartment occupants.
Property Size3,530 SF
Price / SF$375.35
Days on Market9
Property Features for 10 Adelaide Street
General Information
Standard status
Active
Size
3,530 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
2 x 1BR, 4 x 2BR
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$14,579
Amenities
shared laundry
off-street parking
private entrance
Building Details
Building Size
3,530 SF
Year Built
1980
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Briton Vitalius
(207) 541-3755
Source:
Heathershieldsmaine
Added: Jul 29
Changed: Aug 2
Last Checked: Aug 2 at 11:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vitalius Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This 3,530-square-foot apartment building contains six units, including two one-bedroom apartments and four two-bedroom apartments. The property was built in 1980, and the units are described as updated. Each apartment has its own entrance, while separate utility metering is provided for the individual units. Shared laundry is located in the basement.
A large rear parking lot provides off-street parking for residents. The property is located at 10 Adelaide Street in Portland, Maine, and offers a defined six-unit configuration with a mix of one- and two-bedroom apartments.
A large rear parking lot provides off-street parking for residents. The property is located at 10 Adelaide Street in Portland, Maine, and offers a defined six-unit configuration with a mix of one- and two-bedroom apartments.
Key Highlights
- Six‑unit apartment building with 3,530 SF of property size
- Unit mix includes 2 one‑bedroom and 4 two‑bedroom apartments
- Private entrance provided for each apartment
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 | $112.3k | $31.80 |
| − Vacancy | −$6.7k | −$1.91 |
| EGI | $105.5k | $29.89 |
| − OpEx | −$47.5k | −$13.45 |
| NOI | $58.0k | $16.44 |
3,530 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$829.1K
$725.4K – $967.3K
NOI $58,035 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$970.2K
$849.0K – $1.13M
NOI $67,916 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Private entrances, separate utility metering, rear parking, and shared laundry serve the apartment occupants.
Where is this apartment building located?
The property is located at 10 Adelaide Street Portland, ME.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Six‑unit apartment building with 3,530 SF of property size; Unit mix includes 2 one‑bedroom and 4 two‑bedroom apartments; Private entrance provided for each apartment
