Quadplex Conversion
126 Danforth Street Portland, ME 04101
For Sale
$1,195,000
Four-unit property is roughly 80% complete with permits in place and a paved parking lot with four spaces.
Property Size3,849 SF
Price / SF$310.47
Days on Market118
Property Features for 126 Danforth Street
General Information
- Standard status
- Active
- Size
- 3,849 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency:
Town & Shore Real Estate
Listed By:
Jeffrey Davis
(603) 433-3350
Source:
Greatislandrealty
Added: Mar 29
Changed: Jul 22
Last Checked: Jul 23 at 8:48AM
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 Town & Shore Real Estate
Investment Insights
Based on property information with market context.
126 Danforth Street offers a four-unit quadplex that is approximately 80% complete, with permits in place and ready for a new owner to finish the remaining work. The left-hand side of the building is currently for sale. Draft condominium documents will be available to new owners.
The project is being carried out with new core building components, including new plumbing, electrical, sprinkler system, windows, exterior pointing, rear decks, rockwool insulation, and drywall. The existing unit layouts are described as unique, with three of the units featuring bonus rooms and bathrooms on the lower level that could support a range of household needs.
Exterior improvements and interior finishes are not fully completed, leaving flexibility for the purchaser to select flooring, kitchen cabinets, and finish details. The property is identified as being within a Historic District and intown, near shopping, with an open green space next door described as providing bright light and urban views. A paved parking lot with four spaces is included.
The project is being carried out with new core building components, including new plumbing, electrical, sprinkler system, windows, exterior pointing, rear decks, rockwool insulation, and drywall. The existing unit layouts are described as unique, with three of the units featuring bonus rooms and bathrooms on the lower level that could support a range of household needs.
Exterior improvements and interior finishes are not fully completed, leaving flexibility for the purchaser to select flooring, kitchen cabinets, and finish details. The property is identified as being within a Historic District and intown, near shopping, with an open green space next door described as providing bright light and urban views. A paved parking lot with four spaces is included.
Key Highlights
- Four‑unit property built in 1900, roughly 80% complete with permits in place
- Paved parking lot with 4 spaces
- Left‑hand side of the building is for sale; opportunity to finish into condo‑quality units
Financial Insights For Multifamily LT 5
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 | $103.9k | $27.00 |
| − Vacancy | −$6.8k | −$1.76 |
| EGI | $97.2k | $25.25 |
| − OpEx | −$29.2k | −$7.57 |
| NOI | $68.0k | $17.67 |
3,849 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$971.7K
$850.2K – $1.13M
NOI $68,018 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$904.0K
$791.0K – $1.05M
NOI $63,280 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.06M
$925.7K – $1.23M
NOI $74,053 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit property is roughly 80% complete with permits in place and a paved parking lot with four spaces.
Where is this quadplex located?
The property is located at 126 Danforth Street Portland, ME.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Four‑unit property built in 1900, roughly 80% complete with permits in place; Paved parking lot with 4 spaces; Left‑hand side of the building is for sale; opportunity to finish into condo‑quality units
