Historic Quadplex
68 Pleasant Street Portland, ME 04101
For Sale
$1,250,000
Historic Greek Revival brick building with four one-bedroom, one-bath residences and a private courtyard entrance.
Property Size3,260 SF
Price / SF$383.44
Days on Market192
Property Features for 68 Pleasant Street
General Information
- Standard status
- Active
- Size
- 3,260 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1840
Listing Agency:
Keller Williams Realty
(207) 749-0669
Listed By:
John Hayes
(207) 749-0669
Source:
Compass
Added: Jan 13
Changed: Jul 22
Last Checked: Jul 23 at 8:19AM
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
Investment Insights
Based on property information with market context.
This historic Greek Revival brick property was built in 1840 and has been thoughtfully stewarded over generations. The building features a private street-level entrance that leads to an interior courtyard, with staircases providing access to the four residences. Each unit is a one-bedroom, one-bath layout with generous ceiling height and abundant natural light, along with a consistent level of finish throughout.
Interiors blend historic character with clean, neutral updates, including brick fireplaces and original wood elements. Covered porches and classic Greek Revival proportions reflect the property’s architectural roots, while extensive renovations over the years are described as supporting comfort, functionality, and long-term durability.
The property is configured as four separate one-bedroom residences within a single landmark building, offering a turnkey residential income setup in Portland’s Old Port area.
Interiors blend historic character with clean, neutral updates, including brick fireplaces and original wood elements. Covered porches and classic Greek Revival proportions reflect the property’s architectural roots, while extensive renovations over the years are described as supporting comfort, functionality, and long-term durability.
The property is configured as four separate one-bedroom residences within a single landmark building, offering a turnkey residential income setup in Portland’s Old Port area.
Key Highlights
- Historic Nathan Nutter House built in 1840; Greek Revival brick residence recognized by Greater Portland Landmarks
- Four separate residences: each is a 1‑bedroom, 1‑bath unit in a single building
- Private street‑level entrance leads to an interior courtyard with stair access to the residences
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 | $88.0k | $27.00 |
| − Vacancy | −$5.7k | −$1.76 |
| EGI | $82.3k | $25.25 |
| − OpEx | −$24.7k | −$7.57 |
| NOI | $57.6k | $17.67 |
3,260 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$823.0K
$720.1K – $960.2K
NOI $57,609 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$765.7K
$670.0K – $893.3K
NOI $53,596 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$896.0K
$784.0K – $1.05M
NOI $62,721 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Historic Greek Revival brick building with four one-bedroom, one-bath residences and a private courtyard entrance.
Where is this quadplex located?
The property is located at 68 Pleasant Street Portland, ME.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Historic Nathan Nutter House built in 1840; Greek Revival brick residence recognized by Greater Portland Landmarks; Four separate residences: each is a 1‑bedroom, 1‑bath unit in a single building; Private street‑level entrance leads to an interior courtyard with stair access to the residences
