Skip To Content

15 Cumberland Avenue

Portland, ME 04101
  • $1,495,000
  • STATUS: Active
  • MLS #: 1546760
$1,495,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,046
    SQFT
Neighborhood:
Type:
Multi-Family
Built:
1900
County:
Area:

School Ratings & Info

Mortgage Calculator tool is provided by BoomTown.

Description

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.

Monthly Payment Calculator

Maine Real Estate Information Systems logo
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.
© 2023 Maine Real Estate Information System, Inc. All Rights Reserved. Data last updated: 2023-01-30T23:48:07.243.
www.linscottrealestate.com/homes/134253228
Print Image

15 Cumberland Avenue Portland, ME 04101

  • Price: $1,495,000
  • Status: Active
  • On Site: Days
  • MLS #: 1546760
0
Beds
0
Baths
0
½ Baths
0.12
Acres
4,046
SQFT
$370
$/SQFT
1900
Built
Neighborhood:
Munjoy Hill/East End
County:
Cumberland
Area:
Portland
Property Description
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.
Exterior Features

Color Maize Construction Wood Frame Driveway Paved Exterior Wood Siding Foundation Materials Brick/Mortar Parking 1 - 4 SpacesOff StreetOn SitePaved Recreational Water NearbyPublic Roads PavedPublic Site Corner LotOpenRolling/SlopingSidewalksWell Landscaped Vehicle Storage No Vehicle Storage Water Info Water Frontage No Water Info Water View No

Interior Features

Basement BulkheadFullUnfinished Floors CarpetVinylWood Units Number Of1 Bd Units 3 Units Number Of2 Bd Units 2 Units Number Of3 Bd Units 0 Units Number Of4 Or More Bd Units 0

Property Features

Amenities 1st Floor BedroomBathtubFenceLaundry - HookupOther AmenitiesPorchShowerStorage Building Info Number Heating Units 5 Building Info Number Stories 3 Building Info Number Water Heaters 3 Cooling None Electric Circuit Breakers Full Tax Amount Amount 13006.00 Gas Natural - On Site Heat Fuel Gas Natural Heat System BaseboardDirect Vent HeaterHot WaterMulti-Zones Leased Land No Location IntownNear Country ClubNear Golf CourseNear Public BeachNear RailroadNear ShoppingNear Turnpike/InterstateNeighborhood Lot 24 Seasonal No Sewer Public Sewer Sqft Finished Above Grade 4046.00 Sqft Finished Below Grade 0.00 Sqft Source Public Records Style New Englander Surveyed Unknown Tax Year 2022 Transportation Major Road AccessNear AirportPublic Transport AccessRail Available Water Public Zoning R-6 Zoning Overlay Unknown

Maine Real Estate Information Systems logo Listing provided courtesy of Benchmark Real Estate: [IDXCONTACTINFORMATION].

© 2023 Maine Real Estate Information System, Inc. All Rights Reserved.

Mortgage Calculator is provided by BoomTown.
Maine Real Estate Information Systems logo
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.
© 2023 Maine Real Estate Information System, Inc. All Rights Reserved. Data last updated: 2023-01-30T23:48:07.243.
 
https://bt-photos.global.ssl.fastly.net/maine/1280_boomver_2_1546760-2.jpg https://bt-photos.global.ssl.fastly.net/maine/1280_boomver_2_1546760-2.jpg https://bt-photos.global.ssl.fastly.net/maine/1280_boomver_2_1546760-2.jpg
Logo
Linscott Real Estate
22 Cottage Road
South Portland ME, 04106
Mortgage Calculator tool is provided by BoomTown.