Multi-Family Home for Sale: 523 Washington Avenue, Portland, ME 04103

12 full baths
523 Washington Avenue, Portland, ME 04103
12 full baths
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Type: Multi-Family
Style: Multi-Level
Total Baths: 12 full baths
Square Feet: 11,896 sqft
Lot Size: 0.57 acres
Year Built: 1905
Taxes Paid: $24,083

City: Portland
County: Cumberland

MLS: 1543356
Status: Active
DOM: 17 days
Listed by Vitalius Real Estate Group, LLC
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.

Room Features

Basement Description: Full, Unfinished

Lot & Building Features

Amenities: Deck, Sprinkler, Porch, Laundry - Hookup
Construction: Wood Frame
Cooling: None
Heat Source: Gas Natural
Heating: Steam
Parking Description: 11 - 20 Spaces, Paved, On Site
Tax Year: 2021
Taxes Paid: $24,083
Water: Public

Price History of 523 Washington Avenue, Portland, ME

Date Name Price Difference
09/16/2022 Listing Price $2,100,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Listing information courtesy of: Vitalius Real Estate Group, LLC

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