605 Washington Avenue Portland, ME 04103
Two 4-bedroom, 1-bath units are offered with a full basement, walk-up attic, and off-street parking on a fenced lot.
- Added:
- Feb 12, 2026
- Days on Market:
- 152
- Last Refresh:
- Jul 10 at 3:41 am
Property Features for 605 Washington Avenue
General Information
- Standard status
- Active
- Size
- 2,612 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1905
Listing office Maine Real Estate Co
Listing date Feb 12, 2026
Source Profoundrealestate
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 Maine Real Estate Co
Investment Insights
Based on property information with market context.
Outside, the property includes a garage in fair condition and offers lots of off-street parking on a nearly completely fenced lot. The building is described as in-town, close to restaurants, coffee, transit, and parks, with a convenient bus stop noted outside the Washington Avenue entrance.
Overall, the duplex is presented as a solid, value-add opportunity with substantial interior space, including the attic, plus dedicated storage areas and off-street parking.
Key Highlights
- Two 4‑bedroom, 1‑bath units on Washington Ave, built in 1905
- Each apartment offers 1,000+ SF with large bedrooms and flexible living/dining layouts
- Full walk‑up attic with two staircases provides potential for an additional unit or expanded living space (buyer to verify with the City of Portland)
Local Financial Insights For Multifamily LT 5
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 | $70.5k | $27.00 |
| − Vacancy | −$4.6k | −$1.76 |
| EGI | $65.9k | $25.25 |
| − OpEx | −$19.8k | −$7.57 |
| NOI | $46.2k | $17.67 |