Triplex with Updated
New
For Sale
$1,495,000
60 Rackleff Street, Portland, ME 04103
Multi-Family, Portland, ME
Property Size7,008 SF
Lot Size0.14 Acres
Price / SF$213.33
Days on Market3
Property Features for 60 Rackleff Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Basement
Patio and Porch features
Porch
Interior features
Other Amenities, 1st Floor Bedroom, Bathtub, Pantry, Shower, Storage
Basement
Full, Unfinished, Sump Pump, Walk-Out Access
Lot features
Near Country Club, Well Landscaped, Sidewalks, Intown, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Subdivided, Suburban, Near Railroad
Standard status
Active
Size
7,008 SF
Lot size
0.14 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10237
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Steam, Oil
Water source
Public
Amenities
in-unit laundry
off-street parking
storage
Building Details
Year built
1925
Floors in Building
3
Number of units
3
Flooring type
Tile, Linoleum, Hardwood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Fiberglass, Shingle
Architectural style
Other
Additional Structures
Other, Storage
Buildings
1
Listing Agency:
Benchmark Real Estate
Listed By:
Thomas Landry
(207) 775-0248
Added: Nov 4
Last Checked: Nov 6 at 12:06PM
MLS# 1686904
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 three-unit property contains 7,008 square feet on a 0.14-acre lot. The residences have updated kitchens and bathrooms, in-unit laundry, and high-end finishes. Improvements include work to the heating systems and roof, alongside other updates. The building retains historic architectural features and includes storage and off-street parking.
At 60 Rackleff Street in Portland, the property is near the Woodford’s Corner, Rosemont, and Deering Center neighborhood hubs. The surrounding area includes schools, the University of New England, the University of Southern Maine, parks, trails, and a range of shops and dining options.
Built in 1925 and zoned RN-3, the property has public water and sewer service. Tenants are responsible for heat, hot water, and electricity. The reported capitalization rate is 5.74%.
At 60 Rackleff Street in Portland, the property is near the Woodford’s Corner, Rosemont, and Deering Center neighborhood hubs. The surrounding area includes schools, the University of New England, the University of Southern Maine, parks, trails, and a range of shops and dining options.
Built in 1925 and zoned RN-3, the property has public water and sewer service. Tenants are responsible for heat, hot water, and electricity. The reported capitalization rate is 5.74%.
Key Highlights
- Three residential units in a 7,008‑square‑foot building
- 0.14‑acre lot with off‑street parking and storage
- Updated kitchens and bathrooms; laundry in each residence
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 - Residents have in-unit laundry, and tenants pay for heat, hot water, and electricity.
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; 0.14‑acre lot with off‑street parking and storage; Updated kitchens and bathrooms; laundry in each residence
