Property Description

An incredible investment opportunity in the heart of Portland, 105 Sherman Street is a well-maintained 6-unit apartment building with an established property management history, a 7.28% cap rate, and strong rental performance. Each of the six units offers an oversized 1 bedroom, 1 bath layout, while four leased parking spaces generate an additional $100 per month each in income. Whether you're an experienced investor looking to add a solid multifamily asset to your portfolio or a new investor ready to get started, this property offers an exciting opportunity in one of Maine's strongest rental markets. The building has benefited from significant improvements over the years, including a new roof and exterior siding in 2015, renovations to Units 2, 3, 5, and 6 between 2015 and 2019, and a new front porch and boiler in 2026. With established management already in place and a strong rental history, much of the groundwork has been done for the next owner. The location is hard to beat, with easy access to the Old Port, Arts District, Maine Medical Center, Deering Oaks, Hadlock Field, Thompson's Point, and Portland's incredible restaurants, breweries, shops, and entertainment. With downtown amenities close by and convenient access to I-295 and major commuter routes, 105 Sherman Street combines location, rental history, and thoughtful improvements into a compelling Portland investment.

Property Features