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523 Washington Avenue

Portland, ME 04103
  • $2,100,000
  • STATUS: Active
  • MLS #: 1543356
UPDATED: 27 min ago
$2,100,000
  • 0
    BEDS
  • 0.57
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,896
    SQFT
Type:
Multi-Family
Built:
1905
County:
Area:

School Ratings & Info

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Description

12-units on a huge lot close to downtown, Portland's Back Cove, and the future Roux Institute campus. These side-by-side 6-unit buildings enjoy a large yard and parking lot for 16 +/- cars. There is good stabilized cash flow and additional income potential simply by increasing existing subsidized units to the allowable maximum. Both buildings are in remarkably good shape, one having had a fire some years ago was essentially rebuilt from the studs with a sprinkler system. Tenants love the sunny 2 & 3 bedroom layouts, decks, green space, ample parking for two cars per apartment, proximity to Payson Park and easy access to 295. Potential to add two more units on the parcel means even more upside potential.

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Listing data is derived in whole or in part from the Maine IDX & 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. Data last updated: 2022-10-01T18:48:23.53.
www.thenewenglandreco.com/homes/133171023
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523 Washington Avenue Portland, ME 04103

  • Price: $2,100,000
  • Status: Active
  • On Site: Days
  • Updated: 27 min ago
  • MLS #: 1543356
0
Beds
0
Baths
0
½ Baths
0.57
Acres
11,896
SQFT
$177
$/SQFT
1905
Built
County:
Cumberland
Area:
Portland
Property Description
12-units on a huge lot close to downtown, Portland's Back Cove, and the future Roux Institute campus. These side-by-side 6-unit buildings enjoy a large yard and parking lot for 16 +/- cars. There is good stabilized cash flow and additional income potential simply by increasing existing subsidized units to the allowable maximum. Both buildings are in remarkably good shape, one having had a fire some years ago was essentially rebuilt from the studs with a sprinkler system. Tenants love the sunny 2 & 3 bedroom layouts, decks, green space, ample parking for two cars per apartment, proximity to Payson Park and easy access to 295. Potential to add two more units on the parcel means even more upside potential.
Exterior Features

Color Gray Construction Wood Frame Driveway Paved Exterior Vinyl Siding Parking 11 - 20 SpacesOn SitePaved Roads PavedPublic Site OpenSidewalks Vehicle Storage No Vehicle Storage Water Info Water Frontage No Water Info Water View No

Interior Features

Basement FullUnfinished Floors CarpetLaminateTileVinylWood Units Number Of1 Bd Units 0 Units Number Of2 Bd Units 9 Units Number Of3 Bd Units 3 Units Number Of4 Or More Bd Units 0

Property Features

Amenities DeckLaundry - HookupPorchSprinkler Building Info Number Heating Units 1 Cooling None Electric Circuit Breakers Full Tax Amount Amount 24083.00 Gas Natural - On Site Heat Fuel Gas Natural Heat System Steam Leased Land No Location IntownNear Turnpike/Interstate Lot 1 Seasonal No Sewer Public Sewer Sqft Finished Above Grade 11896.00 Sqft Finished Below Grade 0.00 Sqft Source Public Records Style Multi-Level Surveyed Yes Tax Year 2021 Transportation Major Road AccessPublic Transport Access Water Public Zoning R5 Zoning Overlay No

Listing provided courtesy of Vitalius Real Estate Group, Llc: [IDXCONTACTINFORMATION].

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

Mortgage Calculator is provided by BoomTown.

Listing data is derived in whole or in part from the Maine IDX & 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. Data last updated: 2022-10-01T18:48:23.53.
 
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