25 Granite Street, Portland, ME 04102

$2,680,000
Property Type: Multi-Family Baths: 12 Square Footage: 9,816 Lot Size (sq. ft.): 12,632 Status: Closed
Current Price: $2,680,000 List Date: 1/23/2021 Last Modified: 1/06/2025

Description

Exceptional building and excellent investment opportunity! 25 Granite Street has much to offer the tenant as well as the investor: a few steps from the USM Law School and the main campus, off street parking, efficient Rinnai Heaters, 4 of the units have dedicated outside space, and another 4 have private roof top decks with great city views! Built as an Inn, circa 1750, and added onto in the early 20th century creating a nice mix of 1 & 2 bedroom units with 4 units retaining ornamental fireplaces. Additionally there is a coin-op laundry and dedicated tenant storage space. A few years after the current owner purchased the property its trajectory was for condo conversion so all systems were updated to include: new roof, windows, heating systems, siding,plumbing, wiring, kitchens and baths, and roof top decks. In the last few years a number of the units have been redone to stay fresh. The market shifted dramatically 08-09 so it remained and still is today a great 12 unit investment opportunity!

Supplements: ********

More Information MLS# 1480477

Location Information

Book: 21692 Leased Land: No Page: 141 Map: 51 Block: E Lot: 21 Zoning Overlay: No Association: No Street #: 25 Street Name: Granite Street Type: Street County: Cumberland Town: Portland State/Province: ME Zip Code: 04102 Zoning: residential Full Tax Amount $: 12662 Tax Year: 2020 Geo Lat: 43.660006 Geo Lon: -70.278122

Property Information

Surveyed: Yes Seasonal: No Owner Occupied: No Number of Units: 12 Deed/Conveyance Type Offered: Warranty Deed: All Deed Restrictions: Unknown Bank Owned REO: No 2 Detached Houses on 1 Lot: No Lot Size Acres +/-: 0.29 Total Baths: 12 Total Half Baths: 0 Color: Yellow SqFt Finished Above Grade: 9816 SqFt Finished Below Grade: 0 Garage: Yes Garage Spaces: 1 Total Full Baths: 12 Year Built: 1910 SqFt Finished Total: 9816 Source of Acreage: Public Records

Site

Sidewalks: 1 Well Landscaped: 1

Location

Near Shopping: 1 Near Town: 1 Neighborhood: 1

Roads

Paved: 1 Public: 1

Transportation

Near Airport: 1

Water Info

Water Frontage: No Water View: No

Style

Other: 1

Construction

Wood Frame: 1

Basement

Crawl Space: 1 Full: 1 Unfinished: 1

Foundation Materials

Granite: 1

Exterior

Vinyl Siding: 1

Roof

Flat: 1 Membrane: 1

Heat System

Direct Vent Heater: 1

Building Info

# Fireplaces: 4 # Stories: 3 # Floors: 3 # Heating Units: 24 # Water Heaters: 1

Heat Fuel

Gas Natural: 1

Income & Expenses

Gross Income: 222600 Operating Expenses: 48572

Cooling

None: 1

Floors

Tile: 1 Vinyl: 1 Wood: 1

Units

# of 1 BD Units: 5 # of 2 BD Units: 7

Parking

11 - 20 Spaces: 1 Off Street: 1 Paved: 1

Unit 1

Lease: No Level: First Security Deposit: Yes Monthly Rent: 1445 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Electric

Circuit Breakers: 1

Unit 2

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1350 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Unit 3

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 1400 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Gas

Natural - On Site: 1 Underground: 1

Unit 4

Lease: No Level: First Security Deposit: Yes Monthly Rent: 1295 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Sewer

Public Sewer: 1

Unit 5

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1495 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Water

Public: 1

Unit 6

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1395 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 7

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1650 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 8

Lease: Yes Level: Second Security Deposit: Yes Monthly Rent: 1590 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 9

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1800 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 10

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1375 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 11

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 1795 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 12

Lease: Yes Level: Third Security Deposit: Yes Monthly Rent: 1650 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Driveway

Paved: 1

Sold Info

Appraiser Email Address: dpierce@maine.rr.com

Basement Entry

Interior: 1

Water Heater

Gas: 1 Off Heating System: 1 Separate Booster: 1

Window Features

Double Pane Windows: 1

Amenities

Laundry - Coin: 1 One-Floor Living: 1

Patio and Porch Features

Deck: 1

Equipment

Cable: 1

Vehicle Storage

1 Car: 1 Detached: 1

Contract Information

Status: Closed Original List Price: 2750000 Sold Price: $2,680,000 Current Price: $2,680,000

Status Change Info

Pending Date: 2021-01-29 Closed Date: 2021-04-16 Closed Price: 2680000

Property Features

Site: Sidewalks; Well Landscaped Location: Near Shopping; Near Town; Neighborhood Roads: Paved; Public Transportation: Near Airport Style: Other Construction: Wood Frame Basement: Crawl Space; Full; Unfinished Basement Entry: Interior Foundation Materials: Granite Exterior: Vinyl Siding Roof: Flat; Membrane Heat System: Direct Vent Heater Heat Fuel: Gas Natural Water Heater: Gas; Off Heating System; Separate Booster Cooling: None Floors: Tile; Vinyl; Wood Window Features: Double Pane Windows Amenities: Laundry - Coin; One-Floor Living Patio and Porch Features: Deck Equipment: Cable Driveway: Paved Parking: 11 - 20 Spaces; Off Street; Paved Vehicle Storage: 1 Car; Detached Electric: Circuit Breakers Gas: Natural - On Site; Underground Sewer: Public Sewer Water: Public

Documents

Listing Office: Morrison Real Estate
IDX
Last Updated: January - 06 - 2025
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