Building Details

Year Built 1980

Listing Agency: Vitalius Real Estate Group,LLC

Listed By: Briton Vitalius Show Phone

Source: Portsiderealestategroup

Added: Jul 24 Changed: Oct 14 Last Checked: Oct 16 at 8:37AM

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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

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Investment Insights

Based on property information with market context.

This 6-unit apartment building includes 2 one-bedroom residences and 4 two-bedroom residences within 3,530 SF. Each apartment has its own private entrance and separately metered utility service. The units have been updated, and the property was built in 1980.

A rear parking lot provides off-street parking for residents, while shared basement laundry serves the building. The property is located at 10 Adelaide Street in Portland, Maine, and is offered for sale as a multifamily asset.

Key Highlights

• 6‑unit multifamily building with 2 one‑bedroom units and 4 two‑bedroom units
• 3,530 SF property built in 1980
• Private entrance for every apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$58,035

Cap Rate

4.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,160,700 $1.2M

Cap Rate 7%

$829,071 $829.1K

Cap Rate 9%

$644,833 $644.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,530 SF

Gross rent

$112.3K $31.80/SF

− Vacancy

−$6.7K −$1.91/SF

EGI

$105.5K $29.89/SF

− OpEx

−$47.5K −$13.45/SF

NOI

$58.0K $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%

$1,160,700

Cap Rate 7%

$829,071

Cap Rate 9%

$644,833

Alternative Uses

Best Use

Apartment 5plus

$829.1K

$725.4K – $967.3K (±1% cap)

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 (±1% cap)

NOI $67,916 @ 7.0% cap · market cap 5.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Real Estate Agency Big Box & Wholesale Store Restaurant Auto Parts Store Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Updated apartments offer private entrances, separate utility metering, rear parking, and shared basement laundry.

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: 6‑unit multifamily building with 2 one‑bedroom units and 4 two‑bedroom units; 3,530 SF property built in 1980; Private entrance for every apartment