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Three-Unit Apartment Building 30 Chesley Ave 6 Unit Apartment Building $695,000 ($115,833/Unit) 4.97% Cap Rate Portland, ME 04103
Investment Highlights
- Turnkey well-maintained three-unit apartment building located on a quiet, dead-end street in the desirable neighborhood of North Deering
- Separately metered utilities for each unit (heat, hot water, & electric), plus dedicated off-street parking
Executive Summary
This turnkey, well-maintained three-unit apartment building is located on a quiet, dead-end street in the desirable North Deering neighborhood. Recent upgrades include a new asphalt driveway (2019), a new roof (2024), new exterior decking and stairs (2024–2025), a new furnace (2025), a repointed chimney (2025), and exterior siding repairs with fresh paint (2025). Each unit features separately metered utilities for heat, hot water, and electricity, along with dedicated off-street parking. The property is ideal for owner-occupants looking to offset ownership costs or investors seeking steady cash flow. It’s also conveniently walkable to parks, schools, shopping, restaurants, and local trails.
Property Facts
| Price | $695,000 | Building Class | C |
| Price Per Unit | $115,833 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 2,398 SF |
| Cap Rate | 4.97% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1935 |
| Property Subtype | Apartment | Parking Ratio | 3.34/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RN-3 - Neighborhood Residential | ||
| Price | $695,000 |
| Price Per Unit | $115,833 |
| Sale Type | Investment |
| Cap Rate | 4.97% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 2,398 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1935 |
| Parking Ratio | 3.34/1,000 SF |
| Zoning | RN-3 - Neighborhood Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 5 | - | - |
1 1
Property Taxes
| Parcel Number | PTLD-000439-000000-E005001 | Improvements Assessment | $390,400 |
| Land Assessment | $68,000 | Total Assessment | $458,400 |
Property Taxes
Parcel Number
PTLD-000439-000000-E005001
Land Assessment
$68,000
Improvements Assessment
$390,400
Total Assessment
$458,400
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Three-Unit Apartment Building | 30 Chesley Ave
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