55-57-59 St Lawrence Street, Portland, ME 04101

$2,200,000
Property Type: Multi-Family Baths: 7 Square Footage: 9,600 Lot Size (sq. ft.): 11,326 Status: Closed
Current Price: $2,200,000 List Date: 10/07/2025 Last Modified: 2/28/2026

Overview

Description

Rare opportunity in one of New England's most desirable coastal communities! Ideally located on a quiet street atop Portland's historic Munjoy Hill, this seven-unit multifamily includes a separate buildable lot — an extraordinary find in one of the city's most coveted RN4 (formerly R6) residential zones. Originally built as a classic double-triple, the property now offers seven well-maintained units with significant updates, modern life-safety systems, and individual utilities — each tenant pays their own heat, hot water, and electricity. The building has been carefully maintained, and rents have kept pace with the market, producing an NOI of ~ $107,000 and a healthy 5% cap rate with strong, consistent income. The real value lies in the adjoining buildable lot, capable of supporting 9 new residential units. Buildings in this zone may reach up to 45 feet in height, offering commanding ocean and city views. The property has already been surveyed, and preliminary civil engineering an ...

Listing Details MLS# 1640137

Location Information

Street #
55-57-59
Street Name
St Lawrence
Street Type
Street
County
Cumberland
Town
Portland
State/Province
ME
Zip Code
04101
Leased Land
No
Book
32341,32689
Page
90, 166-168
Map
016
Block
E
Lot
16-19
Zoning
RN-4
Zoning Overlay
No
Neighborhood Association
Munjoy Hill Neighborhood Conservation District
Association
No
School District
Portland Public Schools
Full Tax Amount $
18906
Tax Year
2026
Tree Growth Y/N
No

Contract Information

Original List Price
2250000

Property Information

Surveyed
Yes
Seasonal
No
Owner Occupied
No
Deed/Conveyance Type Offered
Warranty
Deed
All
Deed Restrictions
Unknown
Bank Owned REO
No
2 Detached Houses on 1 Lot
No
Number of Units
7
Total Baths
7
Total Full Baths
7
Color
White
Year Built
1915
SqFt Finished Above Grade
9600
SqFt Finished Total
9600
SqFt Source
Public Records
Garage
No
Lot Size Acres +/-
0.26
Source of Acreage
Public Records
Road Frontage
No

Status Change Info

Pending Date
2025-10-15
Closed Date
2026-02-27
Closed Price
2200000

Water Info

Waterfront
No
Water View
Yes
Water Body Name
Casco Bay

Building Info

# Stories
3
# Floors
3
# Heating Units
7
# Water Heaters
7

More Information

Units

# of 1 BD Units
2
# of 2 BD Units
4
# of 3 BD Units
Yes

Unit 1

Lease
Yes
Level
First
Security Deposit
Yes
Monthly Rent
1735
# Full Baths
Yes
# of Rooms
2
# of Bedrooms
Yes
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
Yes
Electric
No
Heat
No
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 2

Lease
Yes
Level
First
Security Deposit
Yes
Monthly Rent
1561
# Full Baths
Yes
# of Rooms
3
# of Bedrooms
Yes
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
Yes
Electric
No
Heat
No
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 3

Lease
Yes
Level
Second
Security Deposit
Yes
Monthly Rent
2395
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
Yes
Electric
No
Heat
No
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 4

Lease
Yes
Level
First
Security Deposit
Yes
Monthly Rent
1295
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
Yes
Electric
No
Heat
No
Range
Yes
Refrigerator
Yes
Water
Yes

Unit 5

Lease
Yes
Level
Second
Security Deposit
Yes
Monthly Rent
1740
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
Yes
Electric
No
Heat
No
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 6

Lease
Yes
Level
Third
Security Deposit
Yes
Monthly Rent
1675
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
Yes
Electric
No
Heat
No
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 7

Lease
Yes
Level
Third
Security Deposit
Yes
Monthly Rent
2300
# Full Baths
Yes
# of Rooms
6
# of Bedrooms
3
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
Yes
Electric
No
Heat
No
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Utilities

Utilities On
Yes

Sold Info

Appraiser Email Address
Bonnie@jpowellappraisals.com

Property Features

Site: Level; Rolling/Sloping; Sidewalks Location: Intown; Near Country Club; Near Golf Course; Near Public Beach; Near Railroad; Near Shopping; Near Turnpike/Interstate; Neighborhood Roads: Paved; Public Transportation: Major Road Access; Near Airport; Public Transport Access; Rail Available Water Body Type: Bay; Ocean Recreational Water: Nearby; Public View: Scenic Style: Other Levels: Multi-Level Construction: Wood Frame Other Structures: Shed(s) Basement: Bulkhead; Full; Unfinished Basement Entry: Bulkhead; Interior Foundation Materials: Brick/Mortar; Stone Exterior: Vinyl Siding Roof: Flat Heat System: Direct Vent Heater Heat Fuel: Gas Natural Water Heater: Gas Cooling: None Floors: Laminate; Tile; Vinyl; Wood Window Features: Double Pane Windows Amenities: 1st Floor Bedroom; Bathtub; Fence; Laundry - Coin; Laundry - Hookup; Other; Pantry; Shower; Storage Patio and Porch Features: Porch Equipment: Cable; Internet Access Available Energy Efficiency: Ceiling Fans Driveway: Gravel; Paved Parking: 11 - 20 Spaces; On Site; Paved Vehicle Storage: No Vehicle Storage Restrictions: No Restrictions Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

IDX
Listing Office: Benchmark Real Estate
Selling Office: Benchmark Real Estate
Last Updated: February - 28 - 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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