471 Cumberland Avenue, Portland, ME 04101

$1,750,000
Property Type: Multi-Family Baths: 14 Square Footage: 12,038 Lot Size (sq. ft.): 5,663 Status: Closed
Current Price: $1,750,000 List Date: 1/25/2020 Last Modified: 12/28/2024

Overview

Description

14 unit apartment building in Portland's Parkside neighborhood. (10) 1 Bedrooms and (4) 2 Bedrooms. 7 out of the 14 units have been totally remodeled with granite, cabinets, bathrooms, etc. Leaving the new owner very little work to do. This recently has had updated electrical as well. All rents are under-market offering lots of upside in a location that is close to 295/95, Old Port and Maine Medical center. 6.64% Cap Rate

Listing Details MLS# 1371925

Location Information

Street #
471
Street Name
Cumberland
Street Type
Avenue
County
Cumberland
Town
Portland
State/Province
ME
Zip Code
04101
Leased Land
No
Book
33042
Page
066
Map
36
Block
F
Lot
15-16
Zoning
R7
Zoning Overlay
No
Association
No
Full Tax Amount $
19142
Tax Year
2018

Contract Information

Original List Price
2000000

Property Information

Surveyed
Unknown
Seasonal
No
Deed Restrictions
Unknown
Bank Owned REO
No
2 Detached Houses on 1 Lot
No
Number of Units
14
Total Baths
14
Total Full Baths
14
Color
Beige
Year Built
1900
SqFt Finished Above Grade
10248
SqFt Finished Below Grade
1790
SqFt Finished Total
12038
Garage
No
Lot Size Acres +/-
0.13
Source of Acreage
Public Records
Road Frontage
No
Total Half Baths
0
Garage Spaces
0

Status Change Info

Pending Date
2020-01-24
Closed Date
2020-04-28
Closed Price
1750000

Water Info

Water Frontage
No
Water View
No

Building Info

# Floors
3
# Heating Units
Yes

More Information

Units

# of 1 BD Units
10
# of 2 BD Units
4

Utilities

Utilities On
Yes

Sold Info

Appraiser Email Address
jason@mainelandconsultants.com

Site

Sidewalks
Yes

Location

Historic District
Yes
Intown
Yes

Roads

Paved
Yes
Public
Yes

Transportation

Public Transport Access
Yes

Recreational Water

Nearby
Yes

Style

Other
Yes
Victorian
Yes

Construction

Wood Frame
Yes

Levels

Multi-Level
Yes

Basement

Daylight
Yes
Finished
Yes
Full
Yes
Walk-Out Access
Yes

Foundation Materials

Brick/Mortar
Yes
Stone
Yes

Exterior

Shingle Siding
Yes

Roof

Shingle
Yes

Heat System

Forced Air
Yes
Hot Water
Yes

Heat Fuel

Oil
Yes

Income & Expenses

Gross Income
182808
Operating Expenses
61497

Cooling

None
Yes

Floors

Carpet
Yes
Vinyl
Yes
Wood
Yes

Parking

5 - 10 Spaces
Yes
Off Street
Yes

Electric

Circuit Breakers
Yes

Gas

Natural - On Site
Yes

Sewer

Public Sewer
Yes

Water

Public
Yes

Driveway

Paved
Yes

Restrictions

No Restrictions
Yes

Basement Entry

Interior
Yes

Water Heater

Off Heating System
Yes

Window Features

Double Pane Windows
Yes

Amenities

Laundry - Coin
Yes

Equipment

Cable
Yes

Property Features

Site: Sidewalks Location: Historic District; Intown Roads: Paved; Public Transportation: Public Transport Access Recreational Water: Nearby Style: Other; Victorian Levels: Multi-Level Construction: Wood Frame Basement: Daylight; Finished; Full; Walk-Out Access Basement Entry: Interior Foundation Materials: Brick/Mortar; Stone Exterior: Shingle Siding Roof: Shingle Heat System: Forced Air; Hot Water Heat Fuel: Oil Water Heater: Off Heating System Cooling: None Floors: Carpet; Vinyl; Wood Window Features: Double Pane Windows Amenities: Laundry - Coin Equipment: Cable Driveway: Paved Parking: 5 - 10 Spaces; Off Street Restrictions: No Restrictions Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

IDX
Listing Office: F.O. Bailey Real Estate
Selling Office: F.O. Bailey Real Estate
Last Updated: December - 28 - 2024
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. Copyright ©2026 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.
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