493-497 Cumberland Avenue, Portland, ME 04101

$1,610,000
Property Type: Multi-Family Baths: 18 Square Footage: 18,048 Lot Size (sq. ft.): 9,583 Status: Closed
Current Price: $1,610,000 List Date: 11/01/2017 Last Modified: 8/22/2024

Overview

Description

F.O. Bailey is pleased to offer this rare opportunity to purchase a well maintained, fully-occupied, 18-unit, multi-family two building package w/ parking. 493 Cumberland Ave 6 Unit: Four-1 bedroom, Two-2 bedroom, great candidate for condo conversion. 497 Cumberland Ave 12 Unit: Ten -1 bedroom, Two-2 bedroom. Parking for six vehicles. Property is on a single deed but each building is taxed separately by the city. Excellent Investment Property. Please sign & return the Confidentiality Agreement for financials.

Listing Details MLS# 1331364

Location Information

Street #
493-497
Street Name
Cumberland
Street Type
Avenue
County
Cumberland
Town
Portland
State/Province
ME
Zip Code
04101
Zip +4
2219
Leased Land
No
Book
11982
Page
306
Map
48
Lot
21,22
Zoning
R-6
Association
No
Full Tax Amount $
21506
Tax Year
2016

Contract Information

Original List Price
1749000

Property Information

Surveyed
No
Seasonal
No
Deed/Conveyance Type Offered
Quit Claim w/Covenant
Deed Restrictions
Unknown
2 Detached Houses on 1 Lot
Yes
Number of Units
18
Total Baths
18
Total Full Baths
18
Color
White
Year Built
1910
SqFt Finished Above Grade
18048
SqFt Finished Total
18048
SqFt Source
Public Records
Lot Size Acres +/-
0.22
Source of Acreage
Public Records
Road Frontage
No
Total Half Baths
0
SqFt Finished Below Grade
0

Status Change Info

Pending Date
2017-11-20
Closed Date
2018-02-20
Closed Price
1610000

Water Info

Water Frontage
No
Water View
No

Building Info

# Floors
3
# Heating Units
2
# Water Heaters
2

More Information

Units

# of 1 BD Units
14
# of 2 BD Units
4

Utilities

Utilities On
No

Sold Info

Appraiser Email Address
dpierce3@maine.rr.com

Site

Level
Yes
Open
Yes
Sidewalks
Yes

Location

Intown
Yes
Near Railroad
Yes
Near Shopping
Yes
Near Turnpike/Interstate
Yes

Roads

Paved
Yes
Public
Yes

Transportation

Major Road Access
Yes
Near Airport
Yes
Public Transport Access
Yes

Recreational Water

Nearby
Yes

Style

Federal
Yes
Mansard
Yes

Construction

Wood Frame
Yes

Basement

Bulkhead
Yes
Full
Yes
Unfinished
Yes
Walk-Out Access
Yes

Foundation Materials

Brick/Mortar
Yes
Granite
Yes
Poured Concrete
Yes
Stone
Yes

Exterior

Vinyl Siding
Yes

Roof

Tar/Gravel
Yes

Heat System

Radiant
Yes
Radiator
Yes

Heat Fuel

Gas Natural
Yes
Oil
Yes

Cooling

None
Yes

Floors

Carpet
Yes
Vinyl
Yes
Wood
Yes

Parking

5 - 10 Spaces
Yes

Electric

Circuit Breakers
Yes
On Site
Yes

Gas

Natural - On Site
Yes

Sewer

Public Sewer
Yes

Water

Public
Yes

Driveway

Common
Yes
Paved
Yes

Restrictions

No Restrictions
Yes

Basement Entry

Bulkhead
Yes
Interior
Yes

Water Heater

Off Heating System
Yes

Amenities

Laundry - Coin
Yes
Storage
Yes

Patio and Porch Features

Deck
Yes

Equipment

Cable
Yes
Other Equipment
Yes

Green Features

Low-Flow Fixtures
Yes

Vehicle Storage

No Vehicle Storage
Yes

Property Features

Site: Level; Open; Sidewalks Location: Intown; Near Railroad; Near Shopping; Near Turnpike/Interstate Roads: Paved; Public Transportation: Major Road Access; Near Airport; Public Transport Access Recreational Water: Nearby Style: Federal; Mansard Construction: Wood Frame Basement: Bulkhead; Full; Unfinished; Walk-Out Access Basement Entry: Bulkhead; Interior Foundation Materials: Brick/Mortar; Granite; Poured Concrete; Stone Exterior: Vinyl Siding Roof: Tar/Gravel Heat System: Radiant; Radiator Heat Fuel: Gas Natural; Oil Water Heater: Off Heating System Cooling: None Floors: Carpet; Vinyl; Wood Amenities: Laundry - Coin; Storage Patio and Porch Features: Deck Equipment: Cable; Other Equipment Green Features: Low-Flow Fixtures Driveway: Common; Paved Parking: 5 - 10 Spaces Vehicle Storage: No Vehicle Storage Restrictions: No Restrictions Electric: Circuit Breakers; On Site Gas: Natural - On Site Sewer: Public Sewer Water: Public
IDX
Listing Office: F.O. Bailey Real Estate
Selling Office: Non MREIS Agency
Last Updated: August - 22 - 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.