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

Status Change Info

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

Water Info

Waterfront
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

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

Documents

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.
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