4-Unit Multifamily
New
For Sale
$1,475,000
19-21 Sherman Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size5,240 SF
Lot Size0.12 Acres
Price / SF$281.49
Days on Market3
Property Features for 19-21 Sherman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN - 4
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Basement, Bathroom 2, Bathroom 5
Parking features
Tandem, Off Street
Patio and Porch features
Deck, Patio, Porch
Pets allowed
No
Interior features
Other Amenities, 1st Floor Bedroom, Attic, Bathtub, Pantry, Shower, Storage
Basement
Walk-Out Access, Full, Unfinished
Lot features
Well Landscaped, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Neighborhood, Shopping Mall, Near Public Transit, Near Railroad
Standard status
Active
Size
5,240 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
12254
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Oil, Steam
Water source
Public
Amenities
shared basement laundry
tenant storage
shared private backyard gardens
patio
grilling area
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Flooring type
Carpet, Vinyl, Hardwood, Laminate, Linoleum
Building materials
Wood Frame, Asbestos, Shingle Siding
Roof type
Shingle, Composition
Architectural style
Victorian, Colonial
Additional Structures
Storage, Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 773-1990
Listed By:
Jeffrey England
(207) 756-0049
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 5:06AM
MLS# 1685841
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.
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Investment Insights
Based on property information with market context.
This 5,240-square-foot, four-unit property occupies a 0.12-acre parcel and dates to 1910. Its Colonial Revival design incorporates Victorian details. Shared basement laundry and tenant storage provide additional utility, while a private garden area includes a patio and grilling space. Off-street parking accommodates six vehicles.
The property is on Portland’s peninsula, within a short walk or ride of the city’s business and arts district, waterfront, and restaurants. Zoning is RN-4.
The property is on Portland’s peninsula, within a short walk or ride of the city’s business and arts district, waterfront, and restaurants. Zoning is RN-4.
Key Highlights
- Four residential units in a 5,240‑square‑foot building
- Six off‑street parking spaces
- 0.12‑acre parcel with a shared garden, patio, and grilling area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,599
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,851,980
$1.9M
Cap Rate 7%
$1,322,843
$1.3M
Cap Rate 9%
$1,028,878
$1.0M
Market Conditions
NOI Build-Up for 5,240 SF
Gross rent
$141.5K $27.00/SF
− Vacancy
−$9.2K −$1.76/SF
EGI
$132.3K $25.25/SF
− OpEx
−$39.7K −$7.57/SF
NOI
$92.6K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,851,980
Cap Rate 7%
$1,322,843
Cap Rate 9%
$1,028,878
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,599 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,149 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,815 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5,153
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Shared basement laundry, tenant storage, and off-street parking serve the residential units.
Where is this quadplex located?
The property is located at 19-21 Sherman Street Portland, ME.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Four residential units in a 5,240‑square‑foot building; Six off‑street parking spaces; 0.12‑acre parcel with a shared garden, patio, and grilling area
