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15 Cumberland AvenuePortland, ME 04101Price: $1,495,000

  • Price: $1,495,000
  • Est. Mortgage of $/month
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$
%
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Federal 30-year interest rate: 6.09% last updated on Feb 2, 2023
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $1,495,000List Price
  • 5Bathrooms
  • 0.12Acreage
  • 4,046Square Feet

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Listed by Benchmark Real Estate
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.

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Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, non commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. ©2023 Maine Real Estate Information System, Inc. All Rights Reserved. equal opportunity housing logo   Privacy Policy

Tim Dunham participates in ©2023 Maine Listings Internet Data Exchange program, allowing us to display other Maine IDX Participants' listings. This website does not display complete listings. Certain listings of other real estate brokerage firms have been excluded. Mortgage figures are estimates. Check with your bank or proposed mortgage company for actual interest rates. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

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