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    273 Cumberland Ave Portland, ME 04101

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    For Sale
    $4,700,000

    Rooming houses portfolio for sale in Downtown Portland.

    Property size:
    16,248 SF
    Lot size:
    0.08 Acres

    Property Features for 273 Cumberland Ave

    General Information

    Size
    16,248 SF
    Lot size
    0.08 Acres

    Source: The Dunham Group Agent Frank O'Connor

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Portland Rooming House Portfolio

    A portfolio of rooming houses is available for sale in Downtown Portland. The portfolio includes three properties: 263 Cumberland Avenue, which consists of 16 rooms; 267 Cumberland Avenue, a 4,510 square foot vacant lot; and 273 Cumberland Avenue, which consists of 43 rooms. The units are not regulated by rent control. Approvals were previously granted to construct a new 89-unit mid-rise rooming house at 267 and 263 Cumberland Avenue. A complete set of construction drawings exists, and approvals could be reinstated. The property size is 16,248 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sightly Heavy Towtrucks ... Towing Equipment Provider

    Suggested Use

    Realty agency Dental Office Restaurant Spa & Massage Hair Salon Nail Salon Building Supply Law Firm Daycare Center Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2585987
    Latitude
    43.6599146

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    FAQs

    What type of property is this?
    Apartment building - Rooming houses portfolio for sale in Downtown Portland.
    Where is this apartment building located?
    The property is located at 273 Cumberland Ave Portland, ME.
    What is the asking price?
    The asking price for this property is $4,700,000.
    What are key features of this property?
    This property features: - Approved plans for an 89-unit mid-rise rooming house at 267 and 263 Cumberland Avenue.; - Portfolio includes a 4,510 SF vacant lot (267 Cumberland Avenue).; - Portfolio consists of multiple rooming houses in Downtown Portland.
    (207) 773-7100
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    273 Cumberland Ave Portland, ME 04101
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    Portland, ME 04101
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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
    273 Cumberland Ave Portland, ME 04101
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