$9,999,500
 $53,679 est/mo Sourced by Back At You

1390 Forest Avenue,Portland, ME 04103

Portland, ME 04103

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Description

''MAJOR INVESTMENT OPPORTUNITY'' This is a rare opportunity to own this well maintained 44 unit apartment complex featuring 5 separate buildings on a beautiful 3.8 Acre lot that is extremely convenient to everything including public transportation. The 5 buildings consist of 3 three story 12 unit buildings and 2 two story 4 unit buildings, all units are 2 bedroom, 3 different styles with some including a laundry, heat & hot water included with natural gas, an additional extensive shop area / storage / office spaces with a half bath below unit #5, large shed, ample parking with guest spaces, nice lawn area, lots of updates & improvements including windows, excellent rental history, currently fully occupied with mostly long term tenants & great payment history. THIS IS A VERY SOLID ALL AROUND MULTIUNIT RENTAL PROPERTY WITH GREAT OVERALL NUMBERS, MOSTLY LONG TERM TENANTS, LOW TURNOVER, RARE VACANCIES, THE POTENTIAL FOR INCREASED RENTS, SUBSTANTIALLY MORE VERSATILITY & SIGNIFICANTLY HIGHER FINANCIAL YEILDS IN THE FUTURE WHEN THE CURRENT AFFORDABLE HOUSING USE, WITH 100% PROPERTY TAX EXEMPTION, MAY BE DISCONTINUED AND ALLOW FOR MULTIPLE OTHER OPTIONS....CALL BRUCE LUDKA FOR MORE INFORMATION.

Details

MLS #1660904
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1985
Days On Site137
Listing Provided ByMaine Realty 2000 | Bruce Ludka

Features

Bath(s) 30 Total
SQ Feet38,592
BasementY
Units44
Zoning54
Acreage3.80
Property ViewTrees, Woods

Interior

Heating Yes / NoYes
Cooling Yes / NoNo
CoolingNone

Exterior

RoofShingle
Lot FeaturesIntown, Near Shopping, Near Turnpike/Interstate, Level, Open Lot, Sidewalks, Landscaped, Wooded, Near Public Transit
ViewTrees/Woods
Construction MaterialsWood Frame, Vinyl Siding
Exterior Co ExteriorVinyl Siding

Parking

Attached Garage Yes / NoNo
Garage Yes / NoNo
Parking FeaturesPaved, 21+ Spaces, On Site

Utilities

SewerPublic Sewer
ElectricCircuit Breakers

Taxes

Tax Annual Amount1
Tax Book Number16958
Tax Year2025
Tax Lot68-001
Tax Map Number294

Area Information

StateME
CountyCumberland
CityPortland
Zip Code04103
AreaCumberland
Listing VS Median (in 04103)
Price:
$9,999,500
low | high
Med:
$649,900
100% of Average
sqft:
38,592
low | high
Med:
2,543
100% of Average
$ / sqft:
$259
low | high
Med:
$256
51.36769598999% of Average
On site:
137
low | high
Med:
142
96.478873239437% of Average
Sourced by Back At You

Market Activity 04103

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Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved.

Contact

Learn More About This Property

Wendy Tauber

Wendy Tauber

HK Realty

 (603) 502-7151wendy@h-krealty.com
StateME
CountyCumberland
CityPortland
Zip Code04103
AreaCumberland
Listing VS Median (in 04103)
Price:
$9,999,500
low | high
Med:
$649,900
100% of Average
sqft:
38,592
low | high
Med:
2,543
100% of Average
$ / sqft:
$259
low | high
Med:
$256
51.36769598999% of Average
On site:
137
low | high
Med:
142
96.478873239437% of Average
Sourced by Back At You
Listing Updated: July 14, 2026 at 10:34:57 AM PDT