7 Cherry Street, Portland, ME 04102
$740,000
Property Type:
Multi-Family
Baths:
3
Square Footage:
2,923
Lot Size (sq. ft.):
7,841
Status:
Active
Current Price:
$740,000
List Date:
11/24/2025
Last Modified:
12/11/2025
Description
Fantastic investment opportunity—a three-unit multifamily property at 7 Cherry Street—offers strong rental potential in one of Maine's most desirable and consistently growing markets. Located just minutes from downtown, the Old Port, restaurants, amenities, and major commuter routes, this property attracts high-quality tenants and ensures steady demand year-round. With functional layouts and a solid rental history, this building is an ideal addition to any investor's portfolio or a great first acquisition for someone entering the Portland multifamily market, checking all the boxes whether you seek stable cash flow, long-term appreciation, or a value-add opportunity.
Supplements: ********
Open Houses
Wednesday, December 17, 2:00 pm - 4:00 pm
More Information MLS# 1644239
Location Information
Book: 14576
Leased Land: No
Page: 239-240
Map: 65
Block: A
Lot: 6
Zoning Overlay: No
Association: No
Tree Growth Y/N: No
Street #: 7
Street Name: Cherry
Street Type: Street
County: Cumberland
Town: Portland
State/Province: ME
Zip Code: 04102
Zip +4: 2713
Zoning: R6
Full Tax Amount $: 8536.3
Tax Year: 2025
Geo Lat: 43.654546
Geo Lon: -70.281965
Property Information
Surveyed: No
Seasonal: No
Owner Occupied: No
Number of Units: 3
Deed/Conveyance Type Offered: Warranty
Deed: All
Lot Size Acres +/-: 0.18
Total Baths: 3
Total Half Baths: 0
SqFt Finished Above Grade: 2923
SqFt Finished Below Grade: 0
SqFt Source: Public Records
Garage: No
Total Full Baths: 3
Year Built: 1875
SqFt Finished Total: 2923
Source of Acreage: Public Records
Levels
Multi-Level: 1
Site
Level: 1
Sidewalks: 1
Location
Intown: 1
Near Turnpike/Interstate: 1
Roads
Paved: 1
Public: 1
Transportation
Major Road Access: 1
Public Transport Access: 1
Water Info
Water Frontage: No
Water View: No
Style
New Englander: 1
Construction
Wood Frame: 1
Basement
Full: 1
Unfinished: 1
Walk-Out Access: 1
Exterior
Vinyl Siding: 1
Roof
Shingle: 1
Heat System
Baseboard: 1
Direct Vent Heater: 1
Hot Water: 1
Building Info
# Stories: 3
# Water Heaters: 3
Heat Fuel
Gas Natural: 1
Income & Expenses
Gross Income: 46800
Operating Expenses: 14270.67
Cooling
None: 1
Floors
Laminate: 1
Linoleum: 1
Units
# of 2 BD Units: 1
# of 3 BD Units: 2
Parking
5 - 10 Spaces: 1
Unit 1
Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 1400
# Full Baths: 1
# of Rooms: 5
# of Bedrooms: 3
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes
Electric
Circuit Breakers: 1
Unit 2
Lease: Yes
Level: Second
Security Deposit: Yes
Monthly Rent: 1400
# Full Baths: 1
# of Rooms: 5
# of Bedrooms: 3
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes
Unit 3
Lease: Yes
Level: Third
Security Deposit: Yes
Monthly Rent: 1100
# Full Baths: 1
# of Rooms: 3
# of Bedrooms: 2
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes
Gas
Natural - On Site: 1
Sewer
Public Sewer: 1
Water
Public: 1
Driveway
Paved: 1
Basement Entry
Exterior Only: 1
Water Heater
Gas: 1
On Demand: 1
Patio and Porch Features
Deck: 1
Vehicle Storage
No Vehicle Storage: 1
Contract Information
Status: Active
Original List Price: 740000
List Price: $740,000
Current Price: $740,000
Property Features
Site: Level; Sidewalks
Location: Intown; Near Turnpike/Interstate
Roads: Paved; Public
Transportation: Major Road Access; Public Transport Access
Style: New Englander
Levels: Multi-Level
Construction: Wood Frame
Basement: Full; Unfinished; Walk-Out Access
Basement Entry: Exterior Only
Exterior: Vinyl Siding
Roof: Shingle
Heat System: Baseboard; Direct Vent Heater; Hot Water
Heat Fuel: Gas Natural
Water Heater: Gas; On Demand
Cooling: None
Floors: Laminate; Linoleum
Patio and Porch Features: Deck
Driveway: Paved
Parking: 5 - 10 Spaces
Vehicle Storage: No Vehicle Storage
Electric: Circuit Breakers
Gas: Natural - On Site
Sewer: Public Sewer
Water: Public
Documents
Lead Paint Addendum Public Access ›
Listing Office:
RE/MAX Oceanside
IDX
Last Updated: December - 11 - 2025
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