55 Sherman Street, Portland, ME 04101

$1,520,000
Property Type: Multi-Family Baths: 8 Square Footage: 6,104 Lot Size (sq. ft.): 11,326 Status: Closed
Current Price: $1,520,000 List Date: 5/30/2024 Last Modified: 1/18/2025

Overview

Description

This classic Portland building offers a blend of historic charm and modern upgrades making this lovely 7 unit apartment building a rare find in the Portland market. Ideal for investors or an owner occupied opportunity which provides stability, growth potential, and minimal future maintenance. The first floor apartment is a spacious 2 bed, 2 full bath unit; living room with bay windows, a formal dining room, kitchen with pantry space, high ceilings & plenty of light throughout with nooks and crannies for clever storage spaces; currently owner occupied. An ideal situation to set the rent to current market or for the new owner to reside comfortably. All 7 apartments have updated flooring, appliances, new windows, updated lighting. Upgrades completed with durability in mind along w/ creative use of color & space to attract long-term residents. Other updates include a new roof (2022) with a 50 year, twice transferrable warranty; updated NG boiler in the basement, LED light fixtures thr ...

Listing Details MLS# 1591157

Location Information

Street #
55
Street Name
Sherman
Street Type
Street
County
Cumberland
Town
Portland
State/Province
ME
Zip Code
04101
Zip +4
2202
Leased Land
No
Book
19214
Page
206
Map
48
Block
D
Lot
22
Zoning
R6
Zoning Overlay
Unknown
Association
No
Full Tax Amount $
10093
Tax Year
2023

Contract Information

Original List Price
1645000

Property Information

Surveyed
Unknown
Seasonal
No
Deed/Conveyance Type Offered
Warranty
Deed
All
Number of Units
7
Total Baths
8
Total Full Baths
8
Year Built
1910
SqFt Finished Above Grade
4612
SqFt Finished Below Grade
1492
SqFt Finished Total
6104
Garage
No
Lot Size Acres +/-
0.26
Source of Acreage
Public Records
Total Half Baths
0
Garage Spaces
0

Status Change Info

Pending Date
2024-08-27
Closed Date
2024-10-31
Closed Price
1520000

Water Info

Water Frontage
No
Water View
No

Units

# of 1 BD Units
6
# of 2 BD Units
Yes

More Information

Unit 1

Lease
No
Level
First
Security Deposit
No
# Full Baths
2
# of Rooms
6
# of Bedrooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
Yes
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes
Monthly Rent
0

Unit 2

Lease
Yes
Level
Second
Security Deposit
No
Monthly Rent
1785
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
Yes
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
Yes
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 3

Lease
Yes
Level
Second
Security Deposit
Yes
Monthly Rent
1330
# Full Baths
Yes
# of Rooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
Yes
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 4

Lease
Yes
Level
Third
Security Deposit
Yes
Monthly Rent
1510
# Full Baths
Yes
# of Rooms
4
# of Bedrooms
Yes
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
Yes
Heat
Yes
Range
Yes
Refrigerator
Yes
Water
Yes
Sewer
Yes

Unit 5

Lease
Yes
Level
Third
Security Deposit
Yes
Monthly Rent
1355
# Full Baths
Yes
# of Rooms
3
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
Yes
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 6

Lease
Yes
Level
Third
Security Deposit
Yes
Monthly Rent
1390
# Full Baths
Yes
# of Rooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
Yes
Dedicated Water Heater
No
Electric
Yes
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Unit 7

Lease
Yes
Level
Second
Security Deposit
Yes
Monthly Rent
925
# Full Baths
Yes
# of Rooms
2
Dedicated Electric Meter
Yes
Dedicated Gas Meter
No
Dedicated Water Heater
No
Electric
Yes
Heat
Yes
Range
Yes
Refrigerator
Yes
Sewer
Yes
Water
Yes

Utilities

Utilities On
Yes

Sold Info

Appraiser Email Address
jessica@mainelandconsultants.com

Site

Sidewalks
Yes

Location

Near Shopping
Yes
Near Town
Yes
Neighborhood
Yes

Roads

Public
Yes

Transportation

Major Road Access
Yes
Public Transport Access
Yes

Style

Mansard
Yes

Construction

Masonry
Yes
Other
Yes

Basement

Brick/Mortar
Yes
Unfinished
Yes
Walk-Out Access
Yes

Foundation Materials

Brick/Mortar
Yes
Pillar/Post/Pier
Yes

Exterior

Brick
Yes
Vinyl Siding
Yes

Roof

Shingle
Yes

Heat System

Radiator
Yes

Heat Fuel

Gas Natural
Yes

Income & Expenses

Gross Income
105540
Operating Expenses
21821.72

Cooling

None
Yes

Floors

Carpet
Yes
Laminate
Yes
Tile
Yes
Wood
Yes

Parking

5 - 10 Spaces
Yes
Assigned
Yes
Leased
Yes
Off Street
Yes
On Site
Yes

Electric

Circuit Breakers
Yes

Gas

Natural - On Site
Yes

Sewer

Public Sewer
Yes

Water

Public
Yes

Driveway

Concrete
Yes

Restrictions

No Restrictions
Yes

Basement Entry

Interior
Yes

Water Heater

Gas
Yes

Amenities

Laundry - Coin
Yes
Other Amenities
Yes
Security System
Yes
Storage
Yes

Patio and Porch Features

Patio
Yes

Equipment

Air Radon Mitigation System
Yes
Cable
Yes
Internet Access Available
Yes

Vehicle Storage

No Vehicle Storage
Yes

Property Features

Site: Sidewalks Location: Near Shopping; Near Town; Neighborhood Roads: Public Transportation: Major Road Access; Public Transport Access Style: Mansard Construction: Masonry; Other Basement: Brick/Mortar; Unfinished; Walk-Out Access Basement Entry: Interior Foundation Materials: Brick/Mortar; Pillar/Post/Pier Exterior: Brick; Vinyl Siding Roof: Shingle Heat System: Radiator Heat Fuel: Gas Natural Water Heater: Gas Cooling: None Floors: Carpet; Laminate; Tile; Wood Amenities: Laundry - Coin; Other Amenities; Security System; Storage Patio and Porch Features: Patio Equipment: Air Radon Mitigation System; Cable; Internet Access Available Driveway: Concrete Parking: 5 - 10 Spaces; Assigned; Leased; Off Street; On Site Vehicle Storage: No Vehicle Storage Restrictions: No Restrictions Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

IDX
Listing Office: Coldwell Banker Realty
Selling Office: Redfin Corporation
Last Updated: January - 18 - 2025
Broker Attribution: 207-773-1990
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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