4-Unit Apartment
For Sale
$970,000
34 Deering Avenue, Portland, ME 04101
Two one-bedroom and two two-bedroom apartments have separate electrical service and individually metered natural gas heat.
Property Size2,607 SF
Price / SF$372.08
Days on Market469
Property Features for 34 Deering Avenue
General Information
Standard status
Active
Size
2,607 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Individually Metered Utilities
natural gas, electricity
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,207
Building Details
Building Size
2,607 SF
Year Built
1894
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Dominik Porobic
(207) 400-5671
Source:
Oceanviewproperties
Added: Jul 17, 2025
Changed: Oct 26
Last Checked: Oct 26 at 3:09PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This Portland peninsula multifamily property contains four apartments: two one-bedroom units and two two-bedroom units. Each apartment has its own electrical service and individually metered natural gas heating. The building dates to 1894 and includes off-street parking.
Located at 34 Deering Avenue, the property is near Maine Medical Center, the West End, and downtown Portland.
Located at 34 Deering Avenue, the property is near Maine Medical Center, the West End, and downtown Portland.
Key Highlights
- Four apartments: two one‑bedroom units and two two‑bedroom units
- Individually metered natural gas heating in each unit
- Separate electrical service for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,070
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$921,400
$921.4K
Cap Rate 7%
$658,143
$658.1K
Cap Rate 9%
$511,889
$511.9K
Market Conditions
NOI Build-Up for 2,607 SF
Gross rent
$70.4K $27.00/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$65.8K $25.25/SF
− OpEx
−$19.7K −$7.57/SF
NOI
$46.1K $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%
$921,400
Cap Rate 7%
$658,143
Cap Rate 9%
$511,889
Alternative Uses
Best Use
Multifamily LT 5
$658.1K
$575.9K – $767.8K
NOI $46,070 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$612.3K
$535.8K – $714.4K
NOI $42,861 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$716.5K
$627.0K – $836.0K
NOI $50,158 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
4
Residential units
Yes
Utilities to site
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Two one-bedroom and two two-bedroom apartments have separate electrical service and individually metered natural gas heat.
Where is this quadplex located?
The property is located at 34 Deering Avenue Portland, ME.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Four apartments: two one‑bedroom units and two two‑bedroom units; Individually metered natural gas heating in each unit; Separate electrical service for each apartment
