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Improved Mixed-Use Land for Sale in Portland, Maine

1390 Forest Ave, Portland, ME 04103

$9,999,500
3.8 acres
Active sale
ago
Est $55,486/mo

''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.

39,592
Sq feet
1985
Built

Location

Street address
1390 Forest Ave
Elevation
91 feet
Coordinates
43.6921, -70.3004

Property details

Acreage
3.8 acres
MLS #
MREIS 1660908
Posted

Details and features

Listing

Type
Commercial Sale
Franchise
None

Lot

Features
Near Shopping

Structure

Water
Public
Sewer
Public Sewer
Heating
Baseboard, Hot Water, Natural Gas
Materials
Vinyl Siding, Wood Frame
Roof
Shingle

Interior

Flooring
Carpet, Laminate, Vinyl

Property utilities

CategoryTypeStatus
GasNatural GasConnected

Listing history

DateEventPriceChangeSource
May 6, 2026New listing$9,999,500MREIS
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This 3.8-acre property is located at 1390 Forest Ave in Portland, ME 04103. The property is available for sale for $9,999,500. It has a 39,592 sq ft structure built in 1985.

Listed by Maine Realty 2000, (207) 893-2000

Checked 2 hours agoUpdated

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