264 State Street, Portland, ME 04101

$1,400,000
Property Type: Multi-Family Baths: 13 Square Footage: 5,225 Lot Size (sq. ft.): 4,792 Status: Closed
Current Price: $1,400,000 List Date: 10/03/2022 Last Modified: 1/12/2025

Description

The ''Charles Tobie House'' represents a rare opportunity to purchase one of Portland's most stately and admired multi-units. This 13-Unit proudly sits on the corner of State and Sherman Street and is ideally located in the Parkside neighborhood of Portland. Located between USM and Maine Medical Center, the ability to command top rents is assured! This property features a large off-street parking lot, coin-op laundry, separate/metered utilities, and a city monitored fire alarm system with fire suppression. There is a large value-add opportunity for the next owner and plenty of charming details still intact. 2 of the 13 Units have been left vacant allowing an opportunity for the next owner to renovate or simply lease at a higher rate. This property is now offered BELOW appraised value - one of very few (if any) properties in Portland offering equity at closing! This is an opportunity not to be missed. For a video walk-thru go to YouTube and enter the property address.

Supplements: ********

More Information MLS# 1544862

Location Information

Book: 37549 Leased Land: No Page: 289 Map: 48 Block: D Lot: 23 Zoning Overlay: No Association: No Street #: 264 Street Name: State Street Type: Street County: Cumberland Town: Portland State/Province: ME Zip Code: 04101 Zip +4: 2379 Zoning: R6 Full Tax Amount $: 17043 Tax Year: 2021 Geo Lat: 43.656035 Geo Lon: -70.268358

Property Information

Surveyed: No Seasonal: No Owner Occupied: No Number of Units: 13 Deed/Conveyance Type Offered: Quit Claim w/Covenant Deed: All Lot Size Acres +/-: 0.11 Total Baths: 13 Total Half Baths: 0 SqFt Finished Above Grade: 5225 SqFt Finished Below Grade: 0 SqFt Source: Public Records Garage: No Garage Spaces: 0 Total Full Baths: 13 Year Built: 1900 SqFt Finished Total: 5225 Source of Acreage: Public Records

Site

Corner Lot: 1 Sidewalks: 1

Location

Historic District: 1 Intown: 1 Near Public Beach: 1 Near Shopping: 1 Near Town: 1 Near Turnpike/Interstate: 1

Roads

Paved: 1

Water Info

Water Frontage: No Water View: No

Style

Victorian: 1

Construction

Masonry: 1

Basement

Brick/Mortar: 1 Finished: 1 Walk-Out Access: 1

Foundation Materials

Brick/Mortar: 1

Exterior

Brick: 1

Roof

Slate: 1

Heat System

Direct Vent Heater: 1

Energy Efficiency

Water Heater: 1

Building Info

# Stories: 3 # Floors: 4 # Heating Units: 13 # Water Heaters: 2

Heat Fuel

Gas Natural: 1

Income & Expenses

Gross Income: 126528 Operating Expenses: 62464

Cooling

None: 1

Floors

Laminate: 1 Tile: 1 Vinyl: 1 Wood: 1

Units

# of 1 BD Units: 13

Parking

5 - 10 Spaces: 1 Off Street: 1 Paved: 1

Unit 1

Lease: No Level: First Security Deposit: Yes Monthly Rent: 650 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Electric

Circuit Breakers: 1

Unit 2

Lease: No Level: First Security Deposit: Yes Monthly Rent: 850 # Full Baths: 1 # of Rooms: 2 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Unit 3

Lease: Yes Level: First Security Deposit: Yes Monthly Rent: 850 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Gas

Natural - On Site: 1

Unit 4

Lease: No Level: First Security Deposit: Yes Monthly Rent: 856 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Sewer

Public Sewer: 1

Unit 5

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 700 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Water

Public: 1

Unit 6

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1050 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 7

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1168 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 8

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 750 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 9

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 700 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 10

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 650 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 11

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 800 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 12

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 600 # Full Baths: 1 # of Rooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Unit 13

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 920 # Full Baths: 1 # of Rooms: 3 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: Yes Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Driveway

Paved: 1

Sold Info

Appraiser Email Address: windham1941@gmail.com

Basement Entry

Exterior Only: 1

Water Heater

Gas: 1 Tank: 1

Amenities

Laundry - Coin: 1 Sprinkler: 1

Equipment

Internet Access Available: 1 Other Equipment: 1

Vehicle Storage

No Vehicle Storage: 1

Contract Information

Status: Closed Original List Price: 2195000 Sold Price: $1,400,000 Current Price: $1,400,000

Status Change Info

Pending Date: 2023-01-25 Closed Date: 2023-03-31 Closed Price: 1400000

Property Features

Site: Corner Lot; Sidewalks Location: Historic District; Intown; Near Public Beach; Near Shopping; Near Town; Near Turnpike/Interstate Roads: Paved Style: Victorian Construction: Masonry Basement: Brick/Mortar; Finished; Walk-Out Access Basement Entry: Exterior Only Foundation Materials: Brick/Mortar Exterior: Brick Roof: Slate Heat System: Direct Vent Heater Heat Fuel: Gas Natural Water Heater: Gas; Tank Cooling: None Floors: Laminate; Tile; Vinyl; Wood Amenities: Laundry - Coin; Sprinkler Equipment: Internet Access Available; Other Equipment Energy Efficiency: Water Heater Driveway: Paved Parking: 5 - 10 Spaces; Off Street; Paved Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

Listing Office: Keller Williams Realty
IDX
Last Updated: January - 12 - 2025
Broker Attribution: (207) 232-8877
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