4 Baths
3,304 SqFt
4 Baths
3,304 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Square Footage 3,304 sqft
Subdivision Munjoy Hill
MLS Listing ID 1651128
Style Other
Full Baths 4
HOA Y/N No
Abv Grd Liv Area 2,604
Year Built 1983
Annual Tax Amount $14,027
Tax Year 25
Lot Size 3,049 Sqft
Acres 0.07
Source Maine Listings
Land Area 3304
Property Description
Rare opportunity to acquire a fully leased four-unit, two-building investment property in Portland's highly desirable Munjoy Hill neighborhood. Situated on a single lot with partial Casco Bay views from every unit, this 10-bedroom, 3,000+ SF property offers stable in-place income, strong tenant demand, and long-term upside in one of the city's most sought-after locations. All four units are leased at full market rates, providing immediate cash flow. The property has been owned and thoughtfully improved over the past 19 years, with major capital upgrades that enhance value and reduce near-term expense exposure, including new roofs on both buildings, updated kitchens and baths, casement windows, heating improvements, fresh paint, and newer carpeting. The unit mix is highly rentable and offers broad appeal. The two lower units each feature 2BR/1BA layouts above grade plus finished basement space ideal for an additional bedroom, office, family room, or bonus area. The two upper units offer bright 2BR/1BA layouts with strong natural light and bay-view outlooks. Three of the four units include in-unit laundry, with potential to add laundry to the fourth unit. Outdoor amenities further support tenant demand, including private garden spaces for both buildings and balcony decks for the upper units. On-street parking is readily available on St. Lawrence and Fore Street plus one on-site space. Parking garages close-by provide space during snow bans.
The location adds to the investment story, just minutes from the Eastern Prom, Downtown Portland, and the Roux Institute at Northeastern University. Munjoy Hill's walkable mix of cafés, restaurants, shops, waterfront access, and park land continues to support strong rental demand and long-term appreciation. A stabilized, turnkey multi-unit property with views, meaningful upgrades and full market-rate occupancy.
Location
State ME
County Cumberland
Zoning RN-4
Body of Water Casco Bay
Rooms
Basement Interior, Walk-Out Access, Brick/Mortar, Finished, Full
Interior
Interior Features 1st Floor Bedroom, Bathtub, Shower, Storage
Heating Direct Vent Heater, Baseboard
Cooling None
Flooring Wood, Vinyl, Tile, Carpet
Equipment Internet Access Available, Cable
Fireplace No
Laundry Washer Hookup
Exterior
Parking Features 1 - 4 Spaces, Paved, On Site, On Street
Fence Fenced
Utilities Available 1
View Y/N No
Roof Type Shingle
Street Surface Paved
Porch Deck, Porch
Garage No
Building
Lot Description Well Landscaped, Open, Level, Sidewalks, Intown, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Neighborhood, Near Public Transit
Story 2
Foundation Concrete Perimeter, Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Other
Structure Type Vinyl Siding,Wood Frame
Schools
School District Portland Public Schools
Others
Restrictions Unknown
Energy Description Gas Natural, Electric
Nearby Locations
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