523 Washington Avenue

Portland, ME, 04103

$2,100,000

$2,100,000
Active
Active
 - For Sale
baths
12 Baths
carpenters-square
11,896 ft²
property_type
Multi-family
calendar
Built 1905
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. ********
MLS® ID:
1543356
Updated:
9/26/22

Interior Features

Total Bedrooms
0
Full Bathrooms
12
Interior Features
Deck, Sprinkler, Laundry - Hookup, Porch
Floor Description
Vinyl, Wood, Carpet, Tile, Laminate
Cooling
None
Heating
Steam

Exterior/Building Features

Lot Size
0.57 acres lot
Exterior Features
Vinyl Siding
Architectural Style
Multi-Level
Roof
Membrane
Sewer
Public Sewer

Other Property Details

Taxes
$24083
Tax Frequency
per YEAR
Garage
No
Parking
On Site, 11 - 20 Spaces, Paved
View
N
County
Cumberland
Water Source
Public
Pool
No
Zoning
R5

Listed by Briton Vitalius, Vitalius Real Estate Group, LLC

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. 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 Blue Lobster Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2022 Maine Real Estate Information System, Inc. All rights reserved. 

Data last updated 5:51 AM UTC, 9/26/22

Contact