Courtesy of Benchmark Real Estate

15 Cumberland Avenue

Portland, ME, 04101

$1,495,000

$1,495,000
Active
Active
 - For Sale
baths
5 Baths
carpenters-square
4,046 ft²
property_type
Multi-family
calendar
Built 1900
Comprehensively updated and multi-family, located in one of Maine's most desirable neighborhoods is ideal for an owner occupant, investor 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. ********
MLS® ID:
1546760
Updated:
12/9/22

Interior Features

Total Bedrooms
0
Full Bathrooms
5
Interior Features
Fence, Storage, Other Amenities, Laundry - Hookup, 1 st Floor Bedroom, Bathtub, Shower, Porch
Floor Description
Vinyl, Wood, Carpet
Cooling
None
Heating
Baseboard, Direct Vent Heater, Hot Water, Multi-Zones

Exterior/Building Features

Lot Size
5,227 ft² lot
Exterior Features
Wood Siding
Architectural Style
New Englander
Roof
Shingle
Sewer
Public Sewer

Other Property Details

Taxes
$13006
Tax Frequency
per YEAR
Garage
No
Parking
Off Street, On Site, 1 - 4 Spaces, Paved
View
N
County
Cumberland
Water Source
Public
Pool
No
Total Stories
3
Zoning
R-6

Courtesy of  Benchmark Real Estate

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.

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Data last updated 7:11 PM UTC, 12/9/22

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