10-Unit Apartment
For Sale
$2,100,000
7 Huntress Street, Portland, ME 04102
Multi-Family, Portland, ME
Property Size9,980 SF
Lot Size0.24 Acres
Price / SF$210.42
Days on Market44
Property Features for 7 Huntress Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
10
Full bathrooms
10
Rooms
Bathroom 3, Bathroom 2, Bathroom 7, Bathroom 1, Bathroom 8, Bathroom 6, Bathroom 9, Bathroom 4, Basement, Bathroom 5, Bathroom 10
Parking features
Off Street
Interior features
Bathtub, Storage
Basement
Walk-Out Access, Finished, Daylight, Full, Unfinished
Lot features
Well Landscaped, Corner Lot, Level, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Neighborhood, Near Public Transit, Near Railroad
Standard status
Active
Size
9,980 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
21928
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Natural Gas, Baseboard, Hot Water(Heating), Zoned
Water source
Public
Amenities
laundry facilities
keyless entry
Building Details
Year built
1910
Floors in Building
3
Number of units
10
Flooring type
Carpet, Vinyl, Laminate, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Flat, Membrane
Additional Structures
Storage
Listing Agency:
RE/MAX Shoreline · RE/MAX International
(207) 553-7500
Listed By:
Erin Finley
(207) 831-9136
Added: Sep 15
Changed: Oct 27
Last Checked: Oct 28 at 7:06AM
MLS# 1666409
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 10-unit apartment property at 7 Huntress Street contains 9,980 square feet on a 0.24-acre lot and is zoned R6. The 1910-built building has a membrane roof and includes four garage bays, along with off-street parking for a total of nine spaces. Shared laundry equipment comprises two washers and two dryers, and six apartments have keyless entry. Public water and sewer serve the property.
Recent work includes replacing cast iron plumbing with PVC, servicing the boiler, repairing the roof, and refreshing finishes in an apartment and common hallway. Additional updates include appliances in one unit, a bathroom window, blinds, interior paint, and two ceilings. The property is near Maine Medical Center, Thompson's Point, downtown Portland, and major transportation routes.
Recent work includes replacing cast iron plumbing with PVC, servicing the boiler, repairing the roof, and refreshing finishes in an apartment and common hallway. Additional updates include appliances in one unit, a bathroom window, blinds, interior paint, and two ceilings. The property is near Maine Medical Center, Thompson's Point, downtown Portland, and major transportation routes.
Key Highlights
- 10 apartments in a 9,980‑square‑foot building on 0.24 acres
- R6 zoning; built in 1910
- Nine parking spaces, including four garage bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,077
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,281,540
$3.3M
Cap Rate 7%
$2,343,957
$2.3M
Cap Rate 9%
$1,823,078
$1.8M
Market Conditions
NOI Build-Up for 9,980 SF
Gross rent
$317.4K $31.80/SF
− Vacancy
−$19.0K −$1.91/SF
EGI
$298.3K $29.89/SF
− OpEx
−$134.2K −$13.45/SF
NOI
$164.1K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,281,540
Cap Rate 7%
$2,343,957
Cap Rate 9%
$1,823,078
Alternative Uses
Best Use
Apartment 5plus
$2.34M
$2.05M – $2.73M
NOI $164,077 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $192,011 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
2,326
Businesses Nearby
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Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - R6-zoned residential property with garage and off-street parking, laundry equipment, and recent building updates.
Where is this apartment building located?
The property is located at 7 Huntress Street Portland, ME.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 10 apartments in a 9,980‑square‑foot building on 0.24 acres; R6 zoning; built in 1910; Nine parking spaces, including four garage bays
