4-Unit Quadplex with Bay
6 - 8 Saint Lawrence Street, Portland, ME 04101
For Sale
$1,299,000
All four residences are leased, and three include in-unit laundry.
Property Size3,304 SF
Price / SF$393.16
Days on Market280
Property Features for 6 - 8 Saint Lawrence Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
private garden spaces
balcony decks
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Keller Williams Realty
Listed By:
Deborah Meek
(207) 553-2662
Source:
Waypointbrokers
Added: Feb 4
Changed: Nov 10
Last Checked: Nov 9 at 4:46PM
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 property brings together four residences across two buildings on one lot, with 3,304 square feet of building area. The two lower units each have a 2-bedroom, 1-bathroom layout and finished basement space; the upper units each offer 2 bedrooms and 1 bathroom. Three units have in-unit laundry. Improvements include replacement roofs on both buildings, updated kitchens and bathrooms, casement windows, heating work, fresh paint, and newer carpeting. Upper units have balcony decks, and the property includes private garden areas for both buildings. Partial Casco Bay views are available from the units.
Located on Saint Lawrence Street in Portland’s Munjoy Hill neighborhood, the property is minutes from the Eastern Prom, Downtown Portland, and the Roux Institute at Northeastern University. On-street parking is available on Saint Lawrence and Fore streets, with one additional on-site space. Nearby parking garages provide another option during snow bans.
Located on Saint Lawrence Street in Portland’s Munjoy Hill neighborhood, the property is minutes from the Eastern Prom, Downtown Portland, and the Roux Institute at Northeastern University. On-street parking is available on Saint Lawrence and Fore streets, with one additional on-site space. Nearby parking garages provide another option during snow bans.
Key Highlights
- Four residences in two buildings on a single lot
- 3,304 square feet of building area
- Both lower units have 2‑bedroom, 1‑bathroom layouts with finished basement space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,387
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,740
$1.2M
Cap Rate 7%
$834,100
$834.1K
Cap Rate 9%
$648,744
$648.7K
Market Conditions
NOI Build-Up for 3,304 SF
Gross rent
$89.2K $27.00/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$83.4K $25.25/SF
− OpEx
−$25.0K −$7.57/SF
NOI
$58.4K $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%
$1,167,740
Cap Rate 7%
$834,100
Cap Rate 9%
$648,744
Alternative Uses
Best Use
Multifamily LT 5
$834.1K
$729.8K – $973.1K
NOI $58,387 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$776.0K
$679.0K – $905.3K
NOI $54,320 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$908.1K
$794.6K – $1.06M
NOI $63,567 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,958
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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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 - All four residences are leased, and three include in-unit laundry.
Where is this quadplex located?
The property is located at 6 - 8 Saint Lawrence Street Portland, ME.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Four residences in two buildings on a single lot; 3,304 square feet of building area; Both lower units have 2‑bedroom, 1‑bathroom layouts with finished basement space
