Four-Unit Multifamily
For Sale
$1,499,900
94 Pleasant Avenue, Portland, ME 04103
Owner-occupant layout with a three-bedroom, two-bath first-floor apartment and tenant-paid heat and hot water.
Property Size3,846 SF
Price / SF$389.99
Days on Market77
Property Features for 94 Pleasant Avenue
General Information
Standard status
Active
Size
3,846 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR, 1 x 2BR
Multifamily Units
4
Amenities
front porch
rear porches
Building Details
Year Built
1910
Listing Agency:
Portside Real Estate Group
Listed By:
Veronica Schneider
(207) 838-4034
Source:
Portsiderealestategroup
Added: Aug 13
Changed: Oct 25
Last Checked: Oct 26 at 4:36PM
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 Portside Real Estate Group
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Investment Insights
Based on property information with market context.
This 3,846-square-foot multifamily property contains four residential units in a 1910 building. The unit mix includes one three-bedroom, two-bath apartment on the first floor, one two-bedroom apartment, and two one-bedroom apartments. The first-floor residence includes hardwood flooring, separate living and dining areas, a spacious kitchen, and period architectural details. Front and rear porches add usable exterior space to the property.
Tenants are responsible for their own heat and hot water. The four-unit configuration combines a larger owner-occupant-style apartment with three additional units, creating a varied residential layout within the building. The property is located at 94 Pleasant Avenue in Portland, Maine.
Tenants are responsible for their own heat and hot water. The four-unit configuration combines a larger owner-occupant-style apartment with three additional units, creating a varied residential layout within the building. The property is located at 94 Pleasant Avenue in Portland, Maine.
Key Highlights
- Four‑unit multifamily property totaling 3,846 square feet
- Unit mix includes one 3‑bedroom, 2‑bath unit, one 2‑bedroom unit, and two 1‑bedroom units
- First‑floor apartment features hardwood floors, separate living and dining areas, and a spacious kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,965
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,359,300
$1.4M
Cap Rate 7%
$970,929
$970.9K
Cap Rate 9%
$755,167
$755.2K
Market Conditions
NOI Build-Up for 3,846 SF
Gross rent
$103.8K $27.00/SF
− Vacancy
−$6.7K −$1.76/SF
EGI
$97.1K $25.25/SF
− OpEx
−$29.1K −$7.57/SF
NOI
$68.0K $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%
$1,359,300
Cap Rate 7%
$970,929
Cap Rate 9%
$755,167
Alternative Uses
Best Use
Multifamily LT 5
$970.9K
$849.6K – $1.13M
NOI $67,965 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$903.3K
$790.4K – $1.05M
NOI $63,231 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.06M
$924.9K – $1.23M
NOI $73,995 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
355
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Owner-occupant layout with a three-bedroom, two-bath first-floor apartment and tenant-paid heat and hot water.
Where is this quadplex located?
The property is located at 94 Pleasant Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Four‑unit multifamily property totaling 3,846 square feet; Unit mix includes one 3‑bedroom, 2‑bath unit, one 2‑bedroom unit, and two 1‑bedroom units; First‑floor apartment features hardwood floors, separate living and dining areas, and a spacious kitchen
