Portland 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 Market93
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 2, Bathroom 3, Basement, Bathroom 1
Parking features
Off Street
Basement
Full, Unfinished
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: Jul 29
Last Checked: Jul 30 at 5:06PM
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.
Investment Insights
Based on property information with market context.
This three-unit multifamily property in Portland, Maine, presents a renovation opportunity. The property, with a lot size of 0.05 acres, has been gutted down to the studs due to water damage from frozen pipes. This provides a clean slate for customization and restoration. The property is zoned R6 and has a property size of 3636 square feet. This property is suited for investors and contractors looking for a substantial renovation project with the potential for flipping or creating long-term rental income.
Key Highlights
- 3‑unit property gutted down to the studs after water damage from frozen pipes
- Flat membrane roof
- Public water and public sewer
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 | $115.6k | $31.80 |
| − Vacancy | −$6.9k | −$1.91 |
| EGI | $108.7k | $29.89 |
| − OpEx | −$48.9k | −$13.45 |
| NOI | $59.8k | $16.44 |
3,636 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,612
Businesses Nearby
Explore this area
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
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?
Triplex - Three-unit property in Portland, Maine, ready for complete renovation.
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‑unit property gutted down to the studs after water damage from frozen pipes; Flat membrane roof; Public water and public sewer
