- 5 BA
- 5 units
- 4,046 sq.ft.
- 0.12 acres
- property type Multi-Family
- class Multi-Family
- style New Englander
- year built 1900
- listing office Benchmark Real Estate
- selling office Benchmark Real Estate
Comprehensively updated and multi-family, located in one of Maine's most desirable neighborhoods is ideal for an owner occupant, investor ($79K in net income and a 5 cap) or developer. Located in the heart of Portland's desirable East End the site is a short walk to the parks, playgrounds, bakeries, breweries, boutiques and business of Munjoy Hill, inner Washington Ave and Portland Foreside... locations don't get more desirable. This is a key component to garnering great rents, having zero vacancies, enjoying unparalleled appreciation and most importantly - providing an outstanding quality of life. Over the last several years the owners have updated the building unit by unit. From the semi-boring stuff like windows, doors, electrical, plumbing, heating... to the more enjoyable things like updated kitchens, baths, in-unit laundry, flooring and lighting this building is turn-key and condo-quality. Rents are at market and there is banked rent (allowing a new owner to raise the rents significantly) so rent control is no concern. With gross rents of $90,000, tenants paying for their utilities and low - low cost of ownership this is an ideal investment or condo / single family alternative. Located in the desirable R6 zone and not in the historic district a new owner has lots of options from expansion (7 units are allowed), separate structure or a more comprehensive re-imagination and development. When you realize that this is one of the highest points in Portland that already affords brilliant water views you can't help but dream a little... .12 acres, 4,046sf, 5 units, 3 - 1 bedroom & 1 bath units, 2 - 2 bedroom & 1 bath units, 5 off street parking spaces. Shown by appointment.
Listing Files
- Style New Englander
- Year Built 1900
- Lot Size 0.12 acres
- SQFT Finished Above Grade 4046
- County Cumberland
- City Portland
- Zone R-6
- Location Intown, Near Country Club, Near Golf Course, Near Public Beach, Near Railroad, Near Shopping, Near Turnpike/Interstate, Neighborhood
- Water Frontage No
- Seasonal No
- Full Tax Amount $13,627.00
- Tax Year 2022
- Association Fee $0.00
- Total Units 5
- Baths Total 5
- Baths Full 5
- Basement Bulkhead, Full, Unfinished
- Amenities 1st Floor Bedroom, Bathtub, Fence, Laundry - Hookup, Other Amenities, Shower, Storage
- Construction Wood Frame
- Exterior Wood Siding
- Color Maize
- Foundation Materials Brick/Mortar
- Basement Bulkhead, Full, Unfinished
- Roof Shingle
- Floors Carpet, Vinyl, Wood
- Heat System Baseboard, Direct Vent Heater, Hot Water, Multi-Zones
- Heat Fuel Gas Natural
- Gas Natural - On Site
- Water Heater Electric,Off Heating System
- Electric No
- Water Yes
- Waste Water Disposal Yes
- Driveway Paved
- Vehicle Storage No Vehicle Storage
- Parking 1 - 4 Spaces, Off Street, On Site, Paved
- Roads Paved, Public