Five-Unit Colonial Apartment
For Sale
$1,319,000
146 Sherman Street, Portland, ME 04101
MULTI_FAMILY - Colonial - Portland, ME
Property Size5,650 SF
Lot Size0.10 Acres
Price / SF$233.45
Days on Market42
Property Features for 146 Sherman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
6
Full bathrooms
6
Rooms
Basement, Bathroom 3, Bathroom 6, Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 1
Parking features
Off Street
Interior features
Bathtub, Shower
Basement
Full, Unfinished
Lot features
Rolling/ Sloping, Open, Corner Lot, Sidewalks, Near Shopping, Near Turnpike/ Interstate, Near Town, Near Railroad
Standard status
Active
Size
5,650 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12664
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Other (Heating), Forced Air, Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1910
Number of units
5
Flooring type
Carpet, Wood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Christopher St.Pierre
(207) 650-6749
Added: Jun 26
Changed: Aug 3
Last Checked: Aug 6 at 10:06AM
MLS# 1668085
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial apartment building is configured as an income-producing multifamily with multiple bedrooms across the property. The unit mix includes four two-bedroom units and two one-bedroom units. Interior features include bathtubs and showers, with flooring that includes carpet, wood, and vinyl. Construction is wood frame with vinyl siding, and the roof is shingle. Heating is provided via natural gas with a combination of forced air, hot water, baseboard, and zoned systems. Off-street parking is available.
The property sits on a 0.1-acre lot and has 5,650 square feet. Water and sewer services are public, and the zoning is R6. Built in 1910, the building uses a Colonial architectural style.
Public water source and public sewer support day-to-day operations, and the property includes basements and multiple bathrooms across the interior layout. Group showings are scheduled for Tuesday, June 23rd from 10:00am to 11:30am and Thursday, June 25th from 12:00pm to 1:00pm, with appointments required after the group showings.
The property sits on a 0.1-acre lot and has 5,650 square feet. Water and sewer services are public, and the zoning is R6. Built in 1910, the building uses a Colonial architectural style.
Public water source and public sewer support day-to-day operations, and the property includes basements and multiple bathrooms across the interior layout. Group showings are scheduled for Tuesday, June 23rd from 10:00am to 11:30am and Thursday, June 25th from 12:00pm to 1:00pm, with appointments required after the group showings.
Key Highlights
- Four two‑bedroom units plus two one‑bedroom units
- Zoned R6 multifamily on a 0.1‑acre lot
- Wood‑frame construction with vinyl siding and shingle roof
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 | $179.7k | $31.80 |
| − Vacancy | −$10.8k | −$1.91 |
| EGI | $168.9k | $29.89 |
| − OpEx | −$76.0k | −$13.45 |
| NOI | $92.9k | $16.44 |
5,650 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,703 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Zoned R6 with a Colonial wood-frame multifamily featuring a mix of two-bedroom and one-bedroom units.
Where is this apartment building located?
The property is located at 146 Sherman Street Portland, ME.
What is the asking price?
The asking price for this property is $1,319,000.
What are key features of this property?
This property features: Four two‑bedroom units plus two one‑bedroom units; Zoned R6 multifamily on a 0.1‑acre lot; Wood‑frame construction with vinyl siding and shingle roof
