Closed

$725,000

7 Cherry Street, Portland, ME 04102

8beds

2,923sqft

Multi Family

Built in 1875

-- sqft lot

$732,900 Zestimate^®

$248/sqft

$2,490 Estimated rent

Home value

$732,900

$682,000 - $792,000

$2,490/mo

Zestimate^® history

Owner options

List your home for rent

$2,490/mo

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$2,490/mo

Rent Zestimate^®

Refinance and save

$3,657/mo

Est. payment

Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.

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$3,657/mo

Est. payment

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What's special

Functional layouts

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.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 3
Full bathrooms: 3

Heating

Baseboard, Direct Vent Heater, Hot Water

Cooling

None

Features

Flooring: Laminate, Linoleum
Basement: Exterior Entry

Interior area

Total structure area: 2,923
Total interior livable area: 2,923 sqft
Finished area above ground: 2,923
Finished area below ground: 0

Property

Features

Levels: Multi/Split
Stories: 3
Patio & porch: Deck

Lot

Size: 7,840 Square Feet

Details

Parcel number: PTLDM065BA006001
Zoning: R6

Construction

Type & style

Home type: MultiFamily
Architectural style: New Englander
Property subtype: Multi Family

Materials

Roof: Shingle

Condition

Year built: 1875

Utilities & green energy

Electric: Circuit Breakers
Sewer: Public Sewer
Water: Public

Community & HOA

Location

Region: Portland

Financial & listing details

Price per square foot: $248/sqft
Tax assessed value: $551,200
Annual tax amount: $8,536
Date on market: 11/24/2025

Price history

Date	Event	Price
2/6/2026	Sold	$725,000-2%$248/sqft
Source: Maine Listings #1644239 Report a problem
1/7/2026	Pending sale	$740,000$253/sqft
Source: Maine Listings #1644239 Report a problem
11/24/2025	Listed for sale	$740,000$253/sqft
Source: Maine Listings #1644239 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$7,943	$551,200
2023	$7,943 +5.9%	$551,200
2022	$7,502 +19%	$551,200 +103.8%
2020	$6,303	$270,400
2019	$6,303 +3.7%	$270,400
2018	$6,079 +3.8%	$270,400
2017	$5,854 +2.6%	$270,400
2016	$5,708 +2.3%	$270,400
2015	$5,578 +3.1%	$270,400
2014	$5,408 +3%	$270,400
2013	$5,248 +3.1%	$270,400
2012	$5,089 +6.9%	$270,400 +3.8%
2011	$4,760 -0.8%	$260,400 -3.7%
2009	$4,797	$270,400
2008	$4,797 +8.8%	$270,400
2006	$4,410	$270,400