Updated 3-Unit
60 Rackleff Street, Portland, ME 04103
For Sale
New
$1,495,000
Three residences feature in-unit laundry, refreshed kitchens and baths, and off-street parking.
Property Size7,008 SF
Price / SF$213.33
Days on Market6
Property Features for 60 Rackleff Street
General Information
Standard status
Size
Property subtype
Net Operating Income
Additional Details
Cap Rate
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
ample storage
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Benchmark Real Estate
Listed By:
Thomas Landry
(207) 775-0248
Source:
Heathershieldsmaine
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 8 at 4:28PM
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 Benchmark Real Estate
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Investment Insights
Based on property information with market context.
At 60-62 Rackleff Street, this 7,008-square-foot triplex combines historic architectural character with modernized interiors. The three residences have updated kitchens and bathrooms, in-unit laundry, and generous storage. Building improvements include work to the heating systems and roof, among other updates.
Tenants pay for heat, hot water, and electricity. The property also offers off-street parking and is located in Portland, near Woodford’s Corner, Rosemont, Deering Center, UNE, and USM. The reported cap rate is 5.74%.
Tenants pay for heat, hot water, and electricity. The property also offers off-street parking and is located in Portland, near Woodford’s Corner, Rosemont, Deering Center, UNE, and USM. The reported cap rate is 5.74%.
Key Highlights
- Three residential units in a 7,008‑square‑foot building
- Updated heating systems and roof
- Each residence has an updated kitchen, bathroom, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,842
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,476,840
$2.5M
Cap Rate 7%
$1,769,171
$1.8M
Cap Rate 9%
$1,376,022
$1.4M
Market Conditions
NOI Build-Up for 7,008 SF
Gross rent
$189.2K $27.00/SF
− Vacancy
−$12.3K −$1.76/SF
EGI
$176.9K $25.25/SF
− OpEx
−$53.1K −$7.57/SF
NOI
$123.8K $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%
$2,476,840
Cap Rate 7%
$1,769,171
Cap Rate 9%
$1,376,022
Alternative Uses
Best Use
Multifamily LT 5
$1.77M
$1.55M – $2.06M
NOI $123,842 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,216 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $134,831 @ 7.0% cap · market cap 9.02%
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
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
$421,800
Median Home Value
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Market
Average Price Trend$/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 residences feature in-unit laundry, refreshed kitchens and baths, and off-street parking.
Where is this triplex located?
The property is located at 60 Rackleff Street Portland, ME.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Three residential units in a 7,008‑square‑foot building; Updated heating systems and roof; Each residence has an updated kitchen, bathroom, and in‑unit laundry
