Active
1 North Street
Portland ME, 04101
$2,450,000
Active
6 Baths
4,136 sqft
Multi-family
Built in 1904
Courtesy of Benchmark Real Estate
Outstanding is an understatement when describing this remarkable mixed use multi-unit offering. Located at the center of Portland's vibrant, eclectic and uber desirable Munjoy Hill/ East End, locations don't get better than this. Walk Score calls this a 'walker's paradise' with everything you want and need within blocks. Located in a B1 zone, the property is home to a mix of residential and commercial uses. The corner commercial unit is home to Belleville (BLVL), an acclaimed and thriving bakery and coffee shop. The 5 remaining units are condo-ready-quality and fully updated 1 bedroom, 1 bath residential apartments. Each unit is bathed in natural light and each looks out onto local landmarks (neighboring homes and the Portland Observatory), the city skyline and even toward the setting sun over Back Cove. Units enjoy separate utilities, super-efficient heat and hot water and each rent is at-market. Over the past decade the current owners have gone unit by unit to update everything from the foundation to the roof to create something outstanding. Just outside the door you are instantly in the heart of the East End and a short walk to inner Washington Ave, the Old Port, in-town, Portland Foreside, East End beach, Eastern Promenade and more. With NOI of $140K and a 5.6 CAP Rate this is not only a worry-free addition to the portfolio, it is highly profitable. Shown by appointment Monday through Friday between 10AM and 5PM with 24+ hours notice.
1597248
MLSⓇ ID
July 17, 2024
Listed
August 23, 2024
Updated
Map
1 North Street
Portland ME, 04101
Interior Features
Total Stories
3
Total Bathrooms
6
Full Bathrooms
6
Interior Features
1 st Floor Bedroom, Bathtub, One-Floor Living, Other, Storage
Laundry Description
Washer Hookup
Floor Description
Wood, Vinyl, Tile, Carpet
Fireplace
No
Cooling
No
Cooling Description
None, A/C Units
Heating
Yes
Heating Description
Direct Vent Heater
Exterior/Building Features
Lot Size
0.07 Acres
Lot Features
Corner Lot, Level, Open Lot, Sidewalks, Landscaped, Intown, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Near Town, Neighborhood, Rural, Near Public Transit, Near Railroad
Architectual Style
Mansard
Roof
Pitched, Shingle
Sewer
Public Sewer
School Information
School District
Portland Public Schools
Other Property Details
Taxes
$16,144
Tax Frequency
Annually
Garage
No
Parking
1 - 4 Spaces, Paved, On Site, Off Street
View
No
County
Cumberland
Water Source
Public
Pool
No
Zoning
B1
Listing Contact: 207-775-0248
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. © 2024 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 Town & Shore Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 6:06 PM UTC, 8/23/2024