Charming 3-Unit Investment Property Near Back Cove in a Prime Portland Location. Tucked into a desirable, highly walkable neighborhood near the University of Southern Maine, this classic Portland multi-family blends timeless character with strong income potential. The first and second floor units showcase original hardwood floors, period details, and vintage built-ins that highlight the property's historic charm. The third unit offers flexibility and can be combined with the second floor to create an expansive owner's suite, complete with views of Back Cove. A detached garage provides valuable covered parking, protecting vehicles from Maine's elements. Residents enjoy a quiet, tree-lined street just minutes from neighborhood shops, popular cafes, and public transportation. With a proven rental history, consistent cash flow, and low vacancy, this property is well-suited for investors or owner-occupants seeking to live in one of Portland's most desirable locations.
Multi-familyProperty Type
1930Year Built
4,791 sq ftLot Size
$272Price/Sq.Ft.
2 car garageParking
Listed by John {Jack} Murphy• The Real Estate Store
To provide appropriate areas of the city for medium-density residential development characterized by singlefamily, two-family and low-intensity multifamily dwellings on individual lots; to ensure the stability of established medium-density neighborhoods by controlling residential conversions; and to provide for planned residential unit development on substantially-sized parcels.
Property details
Parking
Parking Information
Has Garage
# of Garage Spaces: 2
Parking Features: Paved, 1 - 4 Spaces
Vehicle Storage: 2 Car
Interior
Virtual Tour
Bathroom Information
# of Baths (Full): 3
Basement Information
Basement Entry: Bulkhead, Interior Entry, Full
Interior Features
Furnished: Unfurnished
Flooring: Carpet, Tile, Wood, Linoleum
Multi-Unit Information
# of Units Total: 3
# of 1 Bedroom Units: 1
# of 2 Bedroom Units: 2
Operating Expense: $15,338
Gross Income: $66,311.52
Unit 1 Information
# of Baths (Full): 1
# of Bedrooms: 1
# of Rooms: 2
Actual Rent: $996.76
Dedicated Electric Meter: Yes
Dedicated Gas Meter: No
Dedicated Water Heater: Yes
Electric: No
Level: Third
Refrigerator: Yes
Sewer: Yes
Water: Yes
Unit 2 Information
# of Baths (Full): 1
# of Bedrooms: 2
# of Rooms: 6
Actual Rent: $1,900
Dedicated Electric Meter: Yes
Dedicated Gas Meter: No
Dedicated Water Heater: Yes
Electric: No
Level: Second
Refrigerator: Yes
Sewer: Yes
Water: Yes
Unit 3 Information
# of Baths (Full): 1
# of Bedrooms: 2
# of Rooms: 6
Actual Rent: $2,629.20
Dedicated Electric Meter: Yes
Dedicated Gas Meter: No
Dedicated Water Heater: Yes
Electric: No
Level: First
Refrigerator: Yes
Sewer: Yes
Water: Yes
Exterior
Building Information
Construction Materials: Wood Frame, Clapboard
Foundation Details: Stone
Roof: Shingle
Total Building Area (Sq. Ft.): 3,119
Property Information
Year Built: 1930
Above-Grade Finished Area (Sq. Ft.): 3,119
Lot Information
Lot Size (Sq. Ft.): $4,791.60
Lot Size (Acres): 0.11
Lot Size Source: Public Records
Lot Features: Intown, Sidewalks
Zoning: R3
Waterfront Information
Water Body Name: Back Cove
Water Body Type: Cove
Water View: Seasonal
Financial
Tax Information
Annual Tax Amount: $11,192
Tax Year: 2025
Utilities
Utility Information
Has Heating
Heating: Baseboard, Hot Water
Electric: Circuit Breakers
Sewer: Public Sewer
Water Source: Public
Water Heater: Electric, Off Heating System
Location
Location Information
Unparsed Address: 9 Grasmere Road, Portland, ME 04101
Public facts
Beds: 5
Baths: 3.0
Sq. Ft.: 3,119
Stories: 2.0
Lot Size: 4,792 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1930
Year Renovated: —
County: Cumberland County
APN: 118194
Home facts updated by county records on Jul 27, 2026
Around this home
87/100 Very Walkable45/100 Some transit90/100 Biker's paradise
Schools
Places
Transit
Ocean Avenue School
Public K-5 • Assigned • 1.0mi
7/10
King Middle School
Public 6-8 • Assigned • 0.5mi
2/10
Portland High School
Public 9-12 • Assigned • 0.9mi
4/10
Provided by GreatSchools
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, 17 days in 30 years
6/10 Wind Factor
65% 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
79
64
76
61
71
56
61
46
50
36
36
22
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
87/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.3 hrs
4.9 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$839,000 – $1.01M
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