7 Cherry St

Portland, ME 04102

$740,000
Price
8
Beds
2,923 Sq. Ft.
$253 / Sq. Ft.
2,923
Sq. Ft.
$253
per Sq. Ft.
7 Cherry St._02
7 Cherry St._01
7 Cherry St._07
7 Cherry St._08
7 Cherry St._03
7 Cherry St._04
7 Cherry St._05
7 Cherry St._06

Description

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...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.

Property Details for 7 Cherry Street

Waterfront
No
ArchitecturalStyle
New Englander
Garage
No
Zoning
R6
LISTING UPDATED: 12/18/2025 02:30 AM

Property Details for 7 Cherry Street

StatusActive
MLS #1644239
Days on Market29
Taxes$8,536 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family
Year Built1875
Lot Size0.18 AC / 7,840 SF
CountyCumberland County

Location

Listing Courtesy of RE/MAX Oceanside
Add your commute

Building Information for 7 Cherry Street

Stories3Residences3Year Built1875Building Size-Lot Size0.18 AC / 7,840 SF

Payment Calculator

$4,368 per month

30 year fixed, 6.28% Interest

Principal and Interest

$3,657

Property Taxes

$711

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7 Cherry Street

Summary
Location and General Information
  • Road Surface Type: Paved
  • Zip Code: 2713
  • Town: Portland
  • State/Province: ME
  • Zip Code: 04102
  • County: Cumberland
  • Geo Latitude: 43.654546
  • Geo Longitude: -70.281965
  • Tax Lot: 6
  • Site:Level: Yes
  • Site:Sidewalks: Yes
  • Location:Intown: Yes
  • Location:Near Turnpike/Interstate: Yes
  • Transportation:Major Road Access: Yes
  • Transportation:Public Transport Access: Yes
Parking
  • Parking Features: 5 - 10 Spaces, Paved
  • Attached Garage: No
Taxes and HOA Information
  • Tax Book Number: 14576
  • Tax Block: A
  • Tax Map Number: 65
  • Tax Year: 2025
  • Parcel Number: PTLD-000065-A000006-000001
  • Location Information:Association Y/N: No
  • Tax Annual Amount: $8,536.30
Property
Heating and Cooling
  • Water Heater:Electric: No
  • Water Heater:Gas: Yes
  • Water Heater:On Demand: Yes
Lot Information
  • SqFt Finished Below Grade: 0.0
  • SqFt Finished Above Grade: 2923.0
  • Lot Size Acres: 0.18
  • Source of Acreage: Public Records
  • Building Area Total: 2923.0
  • Lot Size Area: 0.18
  • Lot Size Units: Acres
  • Lot Size Square Feet: 7840.8
  • Bathrooms Full: 3
  • Bathrooms Half: 0
  • Street Number: 7
  • Property Information:Surveyed: No
  • Property Information:Seasonal: No
  • Property Information:Owner Occupied: No
  • Property Information:Deed/Conveyance Type Offered: Warranty
  • Property Information:Deed: All
  • Property Information:Total Half Baths: .00
Parking
  • Driveway:Paved: Yes
Property and Assessments
  • Leased Land: No
  • Property Type: Multi-Family
  • Property Type Label: Multi-Family
  • Year Built: 1875
Utilities
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Water Source: Public
  • Gas:Natural - On Site: Yes
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding, Wood Frame
  • Vehicle Storage:No Vehicle Storage: Yes
  • Roof: Shingle
  • Patio and Porch Features:Deck: Yes
Interior Features
  • Basement: Walk-Out Access, Full, Exterior Only, Unfinished
  • Flooring: Laminate
  • Cooling: None
  • Heating: Hot Water, Direct Vent Heater, Baseboard
  • # Floors: 3
  • Bathrooms Total (Integer): 3
  • Bathrooms Total (Decimal): 3.00
  • Bathrooms Total (Notational): 3.00
  • Cooling YN: No
  • Heating YN: Yes
Multi Family
Income & Expenses Information
  • Gross Income: $46,800.00
  • Operating Expenses: $14,270.67
Multi-Family Information
  • Number of Units: 3
  • Building Info:# Stories: 3
  • Building Info:# Water Heaters: 3
Unit 1
  • Unit 1:Lease: Yes
  • Unit 1:Level: First
  • Unit 1:Security Deposit: Yes
  • Unit 1:Monthly Rent: $1,400.00
  • Unit 1:# Full Baths: 1.00
  • Unit 1:# of Half Baths: .00
  • Unit 1:# of Rooms: 5.00
  • Unit 1:# of Bedrooms: 3.00
  • Unit 1:Dedicated Electric Meter: Yes
  • Unit 1:Dedicated Gas Meter: Yes
  • Unit 1:Dedicated Water Heater: Yes
  • Unit 1:Electric: No
  • Unit 1:Heat: No
  • Unit 1:Range: Yes
  • Unit 1:Refrigerator: Yes
  • Unit 1:Sewer: Yes
  • Unit 1:Water: Yes
Unit 2
  • Unit 2:Lease: Yes
  • Unit 2:Level: Second
  • Unit 2:Security Deposit: Yes
  • Unit 2:Monthly Rent: $1,400.00
  • Unit 2:# Full Baths: 1.00
  • Unit 2:# Half Baths: .00
  • Unit 2:# of Rooms: 5.00
  • Unit 2:# of Bedrooms: 3.00
  • Unit 2:Dedicated Electric Meter: Yes
  • Unit 2:Dedicated Gas Meter: Yes
  • Unit 2:Dedicated Water Heater: Yes
  • Unit 2:Electric: No
  • Unit 2:Heat: No
  • Unit 2:Range: Yes
  • Unit 2:Refrigerator: Yes
  • Unit 2:Sewer: Yes
  • Unit 2:Water: Yes
Unit 3
  • Unit 3:Lease: Yes
  • Unit 3:Level: Third
  • Unit 3:Security Deposit: Yes
  • Unit 3:Monthly Rent: $1,100.00
  • Unit 3:# Full Baths: 1.00
  • Unit 3:# Half Baths: .00
  • Unit 3:# of Rooms: 3.00
  • Unit 3:# of Bedrooms: 2.00
  • Unit 3:Dedicated Electric Meter: Yes
  • Unit 3:Dedicated Gas Meter: Yes
  • Unit 3:Dedicated Water Heater: Yes
  • Unit 3:Electric: No
  • Unit 3:Heat: No
  • Unit 3:Range: Yes
  • Unit 3:Refrigerator: Yes
  • Unit 3:Sewer: Yes
  • Unit 3:Water: Yes
Unit 4
  • Unit 4:Electric: No
Unit Information
  • Units:# of 1 BD Units: 0
  • Units:# of 2 BD Units: 1
  • Units:# of 3 BD Units: 2
  • Units:# of 4+ BD Units: 0

Property History for 7 Cherry Street

DateEvent & SourcePriceAppreciation
Nov 14, 2025

Listed (Active)

Maine Listings #1644239

$740,000—
DateEvent & SourcePrice
11/14/2025

Listed (Active)

Maine Listings #1644239

$740,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7 Cherry Street

Taxable ValueLand$151,500Additions$399,700Total$551,200
Tax Record2024$8,274 ($690 / month)
Home Facts
Baths3Total Finished SqFt2,923 SqFtAbove Grade Finished SqFt2,923 SqFtStories2Lot Size7,980 SqFtStyleTriplexYear Built1875CountyCUMBERLANDAPNPTLD M:065 B:A006001

Schools near 7 Cherry Street

This home is within Portland Public Schools.
Rating
School
Type
Grades
Distance
Ocean Avenue
Public - K to 5
King Middle School
Public - 6 to 8
Casco Bay High School
Public - 9 to 12
Deering High School
Public - 9 to 12
Rating
School
Distance
Ocean Avenue
PublicK to 5

King Middle School
Public6 to 8

Casco Bay High School
Public9 to 12

Deering High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 7 Cherry Street, Portland, ME 04102

7 Cherry Street is a multi-family home for sale in Portland, ME 04102. This property was listed for sale on November 14, 2025 by RE/MAX Oceanside, it's currently listed at $740,000. This listing's school district is Portland Public Schools. Nearby schools include Ocean Avenue, King Middle School and Casco Bay High School. 7 Cherry Street is a 8-bed, 3-bath, 2,923 sqft multi-family home built in 1875.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Oceanside

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. © 2022 Maine Real Estate Information System, Inc. All Rights Reserved.