Prime 5-unit multifamily investment opportunity in Portland's desirable West End in Parkside. Featuring four 2-bedroom units and two 1-bedroom units, this income-producing property offers excellent tenant demand, and future upside potential. The current owner has offered the units to his employees at a discounted rental rate. Owner initiated process to legalize 6th unit with fire escape addition but was unable to resolve with the city. The property had a safety inspection completed by the city with the third floor broken up into two, two-bedroom units instead of one combined four-bedroom unit. Conveniently located minutes from Downtown Portland, Maine Medical Center, restaurants, shops, and public transportation. A rare opportunity to acquire a well-located multifamily asset. Group showings: Tuesday, June 23rd at 10am - 11:30am Thursday, June 25th at 12pm - 1:00pm All showings after group showings will be by appointment only. Allow at least 24 hours to notify tenants.
Parkside, located between Deering Oaks Park and the Arts District, is a residential and artsy Portland neighborhood with a leafy park edge and a grid of classic apartment blocks. The neighborhood’s character concentrates along Congress Street near the Portland Museum of Art, where galleries, coffee counters, and small restaurants set a steady street rhythm. The State Theatre, Portland Museum of Art, and Tandem Coffee + Bakery act as cultural pillars with regular foot traffic. Brick multifamily buildings and restored Victorians line side streets, with pocket gardens and stoops shaping the streetscape. Deering Oaks adds ballfields, paths, and seasonal events that pull daily routines outdoors. A walkable layout links local studios, corner markets, and transit stops without losing a lived-in feel.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Bathtub
Shower
Bedrooms
Five units total: two 1-bedroom units, two 2-bedroom units, one 4-bedroom unit
Unit levels noted: First-, Second- and Third-floor units
Bathrooms
Six full bathrooms total
Individual unit full baths: four units with 1 full bath, one unit with 2 full baths
Kitchen
All units include a refrigerator
Laundry & utility
Coin laundry on site
Separate dedicated water heaters for most units (some units indicated without dedicated water heater)
Separate dedicated electric and gas meters for each unit
Flooring
Carpet
Vinyl
Wood
Heating & cooling
Heating present (Baseboard, Forced Air, Hot Water, Zoned, Radiator)
Exterior features
Corner lot
Near shopping, town, turnpike/interstate and railroad
Sidewalks
Paved road
Home design
Multi-unit property (5 units)
Built in 1910
Parking
No driveway; off-street parking available
Security
Fire system
Construction
Wood frame construction with vinyl siding
Pitched shingle roof
Foundation: block, stone, brick/mortar
Utilities
Public water
Public sewer
Gas water heater
Circuit breaker electrical service
Utilities currently on
Financial info
Gross income reported at $120,000
Operating expenses reported at $51,257
Actual rents by unit: $1,600; $1,700; $1,500; $3,700; $1,500
Electricity and solar
View estimated energy costs and solar savings for this home
Five unit income producing investment on the Portland peninsula. The modern updates and functional layouts have attracted great tenants and strong rental rates. An efficient heating system helps make the numbers work. All units have bonus room spaces.
MREIS #971197
Apr 15, 2010
Listed
$365,000
$65/sq ft
MREIS #430919
Aug 11, 2000
Listed
$184,900
$33/sq ft
Year
Property tax
Land + Additions
Assessment*
2024
$14,365 (+4.2%)
$217,300 + $739,700
$957,000
2023
$13,790 (+5.9%)
$217,300 + $739,700
$957,000
2022
$13,025 (+4.8%)
$217,300 + $739,700
$957,000
2021
$12,431 (+39.9%)
$217,300 + $739,700
$957,000
2020
$8,886
$67,100 + $314,100
$381,200
2019
$8,886 (+3.7%)
$67,100 + $314,100
$381,200
2018
$8,569 (+3.8%)
$67,100 + $314,100
$381,200
2017
$8,253 (+2.6%)
$67,100 + $314,100
$381,200
2016
$8,047 (+2.3%)
$67,100 + $314,100
$381,200
2015
$7,864 (+3.1%)
$67,100 + $314,100
$381,200
2014
$7,624
$67,100 + $314,100
$381,200
Public record
Public record
Zoning
Permits
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
4,356 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
7,076
Year built
—
Style
Multi-Family (5+ Unit)
County
Cumberland County
APN
113992
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 27, 2026.
R6
Residential
To set aside areas on the peninsula for housing characterized primarily by multi-family dwellings at a high density providing a wide range of housing for differing types of households; to conserve the existing housing stock and residential character of neighborhoods by controlling the scale and external impacts of professional offices and other nonresidential uses; and to encourage new housing development consistent with the compact lot development pattern typically found on the peninsula.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Other
Bed & breakfast
Lodging & hospitality-Other
Cemetery
Park & open space
Jan 21, 2014 • Active
Plumbing
Relocate existing plumbing.
Plumbing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
5/10 Heat Factor
7 days above 88° expected this year, 18 days in 30 years
6/10 Wind Factor
64% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Portland, ME • 04101
Average low and high temperatures (°F)
31
18
33
18
44
30
52
39
63
49
74
58
80
64
77
60
71
56
61
46
50
36
36
22
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
72/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.1 hrs
3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 146 Sherman St
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