Triplex Renovation
For Sale
$650,000
6 Horton Place, Portland, ME 04102
Multi-Family, Portland, ME
Property Size3,636 SF
Lot Size0.05 Acres
Price / SF$178.77
Days on Market192
Property Features for 6 Horton Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Basement, Bathroom 2
Parking features
Off Street
Basement
Unfinished, Full
Lot features
Level, Intown, Near Public Transit
Standard status
Active
Size
3,636 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6293
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Flat, Membrane
Listing Agency:
Ashby Real Estate
(207) 239-9199
Listed By:
Sheldon Ashby
(207) 797-0000
Added: Apr 29
Changed: Oct 27
Last Checked: Nov 6 at 1:06PM
MLS# 1642065
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.
Built in 1900, this 3,636-square-foot triplex offers three residential units within a wood-frame structure with vinyl siding. Interior areas were stripped to the framing following water damage caused by frozen pipes, creating a substantial renovation project. Existing features include wood flooring, hot-water baseboard heat supplied by natural gas, a flat membrane roof, and off-street parking.
The property occupies 0.05 acres at 6 Horton Place in Portland, Maine. It is served by public water and public sewer and is located in the R6 zoning district. The configuration includes three bathrooms and a basement, providing a defined starting point for restoring the building as a multifamily property.
The property occupies 0.05 acres at 6 Horton Place in Portland, Maine. It is served by public water and public sewer and is located in the R6 zoning district. The configuration includes three bathrooms and a basement, providing a defined starting point for restoring the building as a multifamily property.
Key Highlights
- 3,636‑square‑foot triplex with 3 residential units
- Interior gutted to the studs after water damage from frozen pipes
- R6 zoning on a 0.05‑acre Portland, ME parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,778
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,195,560
$1.2M
Cap Rate 7%
$853,971
$854.0K
Cap Rate 9%
$664,200
$664.2K
Market Conditions
NOI Build-Up for 3,636 SF
Gross rent
$115.6K $31.80/SF
− Vacancy
−$6.9K −$1.91/SF
EGI
$108.7K $29.89/SF
− OpEx
−$48.9K −$13.45/SF
NOI
$59.8K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,195,560
Cap Rate 7%
$853,971
Cap Rate 9%
$664,200
Alternative Uses
Best Use
Multifamily LT 5
$917.9K
$803.2K – $1.07M
NOI $64,254 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$854.0K
$747.2K – $996.3K
NOI $59,778 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$999.4K
$874.4K – $1.17M
NOI $69,955 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,612
Businesses Nearby
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Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Portland, ME
Properties on Market for Triplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property requiring comprehensive interior reconstruction, with public water and sewer connections.
Where is this triplex located?
The property is located at 6 Horton Place Portland, ME.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,636‑square‑foot triplex with 3 residential units; Interior gutted to the studs after water damage from frozen pipes; R6 zoning on a 0.05‑acre Portland, ME parcel
