Four-Unit Apartment
For Sale
$799,000
361 Woodford Street, Portland, ME 04103
Multi-Family, Portland, ME
Property Size3,431 SF
Lot Size0.23 Acres
Price / SF$232.88
Days on Market50
Property Features for 361 Woodford Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-C
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3
Basement
Full
Lot features
Well Landscaped, Sidewalks, Intown, Near Shopping
Standard status
Active
Size
3,431 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
10022
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1890
Number of units
4
Flooring type
Laminate, Wood, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
Thomas Gadbois
(207) 409-8339
Added: Sep 8
Changed: Oct 27
Last Checked: Oct 27 at 9:06PM
MLS# 1679649
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 3,431-square-foot quadplex contains four one-bedroom apartments, each reported in excellent condition. The 1890 building has wood-frame construction with vinyl siding, laminate, wood, and tile flooring, plus a shingle roof. Heating is provided by natural-gas hot-water baseboard systems. Public water and public sewer serve the property, and the site includes a basement and off-street parking.
The 0.23-acre property is located at 361 Woodford Street in Portland, Maine. The surrounding area provides access to restaurants, shopping, schools, and Baxter Boulevard, with broader Portland amenities nearby. R-C zoning supports the property’s existing multifamily configuration.
The 0.23-acre property is located at 361 Woodford Street in Portland, Maine. The surrounding area provides access to restaurants, shopping, schools, and Baxter Boulevard, with broader Portland amenities nearby. R-C zoning supports the property’s existing multifamily configuration.
Key Highlights
- Four one‑bedroom apartments in a single quadplex
- 3,431 square feet on a 0.23‑acre lot
- Off‑street parking and basement included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,631
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,620
$1.2M
Cap Rate 7%
$866,157
$866.2K
Cap Rate 9%
$673,678
$673.7K
Market Conditions
NOI Build-Up for 3,431 SF
Gross rent
$92.6K $27.00/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$86.6K $25.25/SF
− OpEx
−$26.0K −$7.57/SF
NOI
$60.6K $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%
$1,212,620
Cap Rate 7%
$866,157
Cap Rate 9%
$673,678
Alternative Uses
Best Use
Multifamily LT 5
$866.2K
$757.9K – $1.01M
NOI $60,631 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$805.8K
$705.1K – $940.1K
NOI $56,408 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$943.0K
$825.1K – $1.10M
NOI $66,011 @ 7.0% cap · market cap 8.26%
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
826
Businesses Nearby
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Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
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 - R-C-zoned property with four one-bedroom apartments and off-street parking in Portland.
Where is this quadplex located?
The property is located at 361 Woodford Street Portland, ME.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four one‑bedroom apartments in a single quadplex; 3,431 square feet on a 0.23‑acre lot; Off‑street parking and basement included
