523 Washington Avenue, Portland, ME 04103

$1,970,000
Property Type: Multi-Family Baths: 12 Square Footage: 11,896 Lot Size (sq. ft.): 24,829 Status: Closed
Current Price: $1,970,000 List Date: 6/09/2023 Last Modified: 2/09/2026

Overview

Description

12-units on a huge lot close to Portland's downtown, Back Cove, and the future Roux Institute campus. These side-by-side 6-unit buildings enjoy a large yard and parking lot for 16 +/- cars. Even with increased borrowing rates, the existing cash flow from this income property is excellent. Plus, there will be future opportunities to increase rents on turnovers as several of the current tenants are subsidized (no base rents). Both buildings are in remarkably good shape, one having had a fire some years ago was essentially rebuilt from the studs with a sprinkler system. Tenants love the sunny 2 & 3 bedroom layouts, decks, green space, ample parking, proximity to Payson Park and easy access to 295.

Listing Details MLS# 1561715

Location Information

Street #
523
Street Name
Washington
Street Type
Avenue
County
Cumberland
Town
Portland
State/Province
ME
Zip Code
04103
Zip +4
5153
Leased Land
No
Book
34967
Page
324
Map
429
Block
C
Lot
Yes
Zoning
R5
Zoning Overlay
No
Association
No
Full Tax Amount $
26662
Tax Year
2023

Contract Information

Original List Price
1932500

Property Information

Surveyed
Yes
Seasonal
No
Deed Restrictions
Unknown
2 Detached Houses on 1 Lot
Yes
Number of Units
12
Total Baths
12
Total Full Baths
12
Color
Gray
Year Built
1905
SqFt Finished Above Grade
11896
SqFt Finished Total
11896
SqFt Source
Public Records
Garage
No
Lot Size Acres +/-
0.57
Source of Acreage
Survey

Status Change Info

Pending Date
2023-06-19
Closed Date
2023-08-15
Closed Price
1970000

Water Info

Waterfront
No
Water View
No

Building Info

# Heating Units
Yes

More Information

Units

# of 2 BD Units
9
# of 3 BD Units
3

Unit 1

Lease
Yes
Level
First
Security Deposit
Yes
Monthly Rent
1420
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 2

Lease
Yes
Level
Second
Security Deposit
Yes
Monthly Rent
950
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 3

Lease
No
Level
Third
Security Deposit
Yes
Monthly Rent
1519
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 4

Lease
Yes
Level
First
Security Deposit
Yes
Monthly Rent
2100
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Water
Yes

Unit 5

Lease
No
Level
Second
Security Deposit
Yes
Monthly Rent
1679
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 6

Lease
Yes
Level
Third
Security Deposit
Yes
Monthly Rent
1679
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 7

Lease
No
Level
First
Security Deposit
No
Monthly Rent
2100
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 8

Lease
No
Level
Second
Security Deposit
Yes
Monthly Rent
1550
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 9

Lease
No
Level
Third
Security Deposit
Yes
Monthly Rent
1679
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 10

Lease
No
Level
First
Security Deposit
Yes
Monthly Rent
1800
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
3
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 11

Lease
Yes
Level
Second
Security Deposit
Yes
Monthly Rent
1700
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
3
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
No
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 12

Lease
Yes
Level
Third
Security Deposit
Yes
Monthly Rent
2100
# Full Baths
Yes
# of Rooms
5
# of Bedrooms
3
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
Yes
Heat
No
Range
No
Refrigerator
No
Sewer
No
Water
No

Utilities

Utilities On
Yes

Sold Info

Appraiser Email Address
pcloutier@nea.cc

Property Features

Site: Open; Sidewalks Location: Intown; Near Turnpike/Interstate Roads: Paved; Public Transportation: Major Road Access; Public Transport Access Style: Other Levels: Multi-Level Construction: Wood Frame Basement: Full; Unfinished Basement Entry: Interior Exterior: Vinyl Siding Roof: Membrane Heat System: Steam Heat Fuel: Gas Natural Water Heater: Gas; Tank Cooling: None Floors: Carpet; Laminate; Tile; Vinyl; Wood Amenities: Laundry - Hookup; Sprinkler Patio and Porch Features: Deck; Porch Driveway: Paved Parking: 11 - 20 Spaces; On Site; Paved Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

IDX
Listing Office: Vitalius Real Estate Group, LLC
Selling Office: Keller Williams Realty
Last Updated: February - 09 - 2026
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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