55 Sherman Street, Portland, ME 04101

$1,520,000
Property Type: Commercial Square Footage: 6,104 Lot Size (sq. ft.): 11,326 Status: Closed
Current Price: $1,520,000 List Date: 6/14/2024 Last Modified: 3/14/2025

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# 1593380

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
Full Tax Amount $
10093
Tax Year
2023
Association Y/N
No

Contract Information

Original List Price
1645000

Property Information

Primary Use
Multi Family
Surveyed
No
Deed
All
Year Built
1910
Tenancy
Multiple Tenants
Leases
Yes
SqFt Finished Total
6104
Lot Size Acres +/-
0.26

Status Change Info

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

Utilities

Utilities On
Yes

Sold Info

Appraiser Email Address
jessica@mainelandconsultants.com

More Information

Property Uses

Other
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

Cooling

None
Yes

Floors

Carpet
Yes
Laminate
Yes
Tile
Yes
Wood
Yes

Building Features

Cable
Yes
Internet Access Available
Yes
Storage
Yes

Parking

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

Electric

Circuit Breakers
Yes

Gas

Natural - On Site
Yes

Sewer

Public Sewer
Yes

Water

Public
Yes

Property Features

Construction: Masonry; Other Property Uses: Other Basement: Brick/Mortar; Unfinished; Walk-Out Access Foundation Materials: Brick/Mortar; Pillar/Post/Pier Exterior: Brick; Vinyl Siding Roof: Shingle Heat System: Radiator Heat Fuel: Gas Natural Cooling: None Floors: Carpet; Laminate; Tile; Wood Building Features: Cable; Internet Access Available; Storage Parking: 5 - 10 Spaces; Assigned; Off Street; On Site 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: March - 14 - 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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