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30 Baths
38,592 sqft

$9,999,500

1390 Forest Avenue, Portland ME, 04103

Built in1985
Property size38,592 sqft
Property typeMulti-family
Courtesy of Maine Realty 2000

Overview

Pending

Listed May 6, 2026

Updated 4 weeks ago

''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.

$66,527/mo

Est. mortgage payment based on a $9,999,500 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
1660904

Interior Features

Bathrooms
30
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
3.8 Acres

Other Property Details

Taxes
$1
Tax Frequency
Annually
View
Yes
MLS provider logo

Listing Contact: 207-776-1007

Listed by Bruce Ludka with Maine Realty 2000 207-776-1007

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Legacy Properties Sotheby's International Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data is refreshed every 3 hours. Listing last updated at 5:14 PM UTC, 8/21/2026

 

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