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Income Producing 6-Unit Multifamily 55 Grant St 6 Unit Apartment Building $1,150,000 ($191,667/Unit) 8.44% Cap Rate Portland, ME 04101
Executive Summary
Six (6), two (2) bedroom unit multifamily located in Portland’s Parkside neighborhood
Strong walkability (91 Walk Score) to Congress Street, Deering Oaks Park, Old Port, restaurants, and neighborhood retail
Close proximity to major employment centers including Maine Medical Center, downtown office core, and the University of Southern Maine
Separately metered electric updates throughout. New roof installed in 2022
SALE PRICE: $1,150,000 (8.44% cap rate)
Strong walkability (91 Walk Score) to Congress Street, Deering Oaks Park, Old Port, restaurants, and neighborhood retail
Close proximity to major employment centers including Maine Medical Center, downtown office core, and the University of Southern Maine
Separately metered electric updates throughout. New roof installed in 2022
SALE PRICE: $1,150,000 (8.44% cap rate)
Property Facts Under Contract
| Price | $1,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $191,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 8.44% | Building Size | 7,312 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | ||
| Zoning | RN-4 | ||
| Price | $1,150,000 |
| Price Per Unit | $191,667 |
| Sale Type | Investment |
| Cap Rate | 8.44% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 7,312 SF |
| No. Stories | 3 |
| Year Built | 1910 |
| Zoning | RN-4 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | PTLD-000048-000000-B018001 | Improvements Assessment | $818,400 |
| Land Assessment | $341,300 | Total Assessment | $1,159,700 |
Property Taxes
Parcel Number
PTLD-000048-000000-B018001
Land Assessment
$341,300
Improvements Assessment
$818,400
Total Assessment
$1,159,700
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Income Producing 6-Unit Multifamily | 55 Grant St