56 Federal Street, Portland, ME 04101

$1,350,000
Property Type: Multi-Family Baths: 6 Square Footage: 6,672 Lot Size (sq. ft.): 3,485 Status: Closed
Current Price: $1,350,000 List Date: 6/19/2024 Last Modified: 1/18/2025

Description

Welcome to 56-58 Federal Street, ideally positioned between Portland's Munjoy Hill neighborhood and the Old Port area, right in the heart of the city's central business district. This six-unit property presents an exceptional investment opportunity in one of Portland's most coveted locations. Tenants cover their own heating and electricity expenses. The roof, featuring a durable rubber membrane, was replaced just five years ago, and a state-of-the-art on-demand hot water heater was installed in 2022. Imagine residing moments away from the Eastern Promenade, offering stunning vistas of Casco Bay, East End Beach, and a convenient boat launch, all seamlessly connected to the Eastern Trail. Nearby, within a half-mile radius, you'll find a vibrant array of neighborhood restaurants, cafes, music venues, and cultural hotspots. Maine Law School is located .5 mile away and USM and UNE are within 2 miles. Enjoy easy access to an eclectic mix of breweries, boutiques, and eateries that define Portland's dynamic cultural scene. Embrace the lively pace of urban living and relish the myriad amenities of in-town life. Showing Time for group showings on 6/20 & 6/21 11:00 am-1:00 pm. Showings by appointment 10:00 am - 5:00 pm after 6/23.

Supplements: ********

More Information MLS# 1593947

Location Information

Book: 33080 Leased Land: No Page: 278 Map: 20 Block: D Lot: 9 Zoning Overlay: Yes Association: No Street #: 56 Street Name: Federal Street Type: Street County: Cumberland Town: Portland State/Province: ME Zip Code: 04101 Zip +4: 4259 Zoning: IS-FBC Full Tax Amount $: 18541 Tax Year: 2023 Geo Lat: 43.661515 Geo Lon: -70.250787

Property Information

Surveyed: Unknown Seasonal: No Owner Occupied: No Number of Units: 6 Deed/Conveyance Type Offered: Warranty Deed: All Bank Owned REO: No 2 Detached Houses on 1 Lot: No Lot Size Acres +/-: 0.08 Total Baths: 6 Total Half Baths: 0 Color: Tan SqFt Finished Above Grade: 6672 SqFt Finished Below Grade: 0 SqFt Source: Public Records Garage: No Garage Spaces: 0 Total Full Baths: 6 Year Built: 1907 SqFt Finished Total: 6672 Source of Acreage: Public Records

Site

Level: 1 Sidewalks: 1

Location

Historic District: 1 Intown: 1 Near Public Beach: 1 Near Shopping: 1 Neighborhood: 1

Roads

Paved: 1 Public: 1

Transportation

Public Transport Access: 1

Water Info

Water Frontage: No Water View: No

Recreational Water

Nearby: 1

Style

Other: 1

Construction

Wood Frame: 1

Levels

Multi-Level: 1

Basement

Dirt Floor: 1 Full: 1 Slab: 1 Unfinished: 1

Foundation Materials

Brick/Mortar: 1 Stone: 1

Exterior

Vinyl Siding: 1

Roof

Membrane: 1

Heat System

Direct Vent Heater: 1 Heat Pump: 1

Energy Efficiency

Tankless Water Heater: 1

Building Info

# Stories: 3 # Floors: 3 # Heating Units: 6

Heat Fuel

Electric: 1 Gas Natural: 1

Income & Expenses

Gross Income: 105378 Operating Expenses: 30543

Cooling

Heat Pump: 1

Floors

Laminate: 1 Tile: 1 Wood: 1

Units

# of 1 BD Units: 1 # of 2 BD Units: 3 # of 3 BD Units: 2

Parking

No Parking: 1

Unit 1

Lease: No Level: First Security Deposit: Yes Monthly Rent: 1800 # Full Baths: 1 # of Rooms: 4 # of Bedrooms: 1 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Electric

Circuit Breakers: 1 On Site: 1

Unit 2

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1287 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Utilities

Utilities On: Yes

Unit 3

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 1430 # Full Baths: 1 # of Rooms: 6 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Gas

Natural - On Site: 1

Unit 4

Lease: No Level: First Security Deposit: Yes Monthly Rent: 1760 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: Yes Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Sewer

Public Sewer: 1

Unit 5

Lease: No Level: Second Security Deposit: Yes Monthly Rent: 1094.5 # Full Baths: 1 # of Rooms: 5 # of Bedrooms: 2 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Water

Public: 1

Unit 6

Lease: No Level: Third Security Deposit: Yes Monthly Rent: 1410 # Full Baths: 1 # of Rooms: 6 # of Bedrooms: 3 Dedicated Electric Meter: Yes Dedicated Gas Meter: Yes Dedicated Water Heater: No Electric: No Heat: No Range: Yes Refrigerator: Yes Sewer: Yes Water: Yes

Driveway

No Driveway: 1

Basement Entry

Interior: 1

Water Heater

Gas: 1 On Demand: 1

Amenities

1st Floor Bedroom: 1 Fence: 1 Laundry - Coin: 1 Shower: 1 Walk-in Closets: 1

Patio and Porch Features

Deck: 1

Vehicle Storage

No Vehicle Storage: 1

Contract Information

Status: Closed Original List Price: 1499000 Sold Price: $1,350,000 Current Price: $1,350,000

Status Change Info

Pending Date: 2024-10-05 Closed Date: 2024-12-06 Closed Price: 1350000

Property Features

Site: Level; Sidewalks Location: Historic District; Intown; Near Public Beach; Near Shopping; Neighborhood Roads: Paved; Public Transportation: Public Transport Access Recreational Water: Nearby Style: Other Levels: Multi-Level Construction: Wood Frame Basement: Dirt Floor; Full; Slab; Unfinished Basement Entry: Interior Foundation Materials: Brick/Mortar; Stone Exterior: Vinyl Siding Roof: Membrane Heat System: Direct Vent Heater; Heat Pump Heat Fuel: Gas Natural Water Heater: Gas; On Demand Cooling: Heat Pump Floors: Laminate; Tile; Wood Amenities: 1st Floor Bedroom; Fence; Laundry - Coin; Shower; Walk-in Closets Patio and Porch Features: Deck Energy Efficiency: Tankless Water Heater Driveway: No Driveway Parking: No Parking Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers; On Site Gas: Natural - On Site Sewer: Public Sewer Water: Public
Listing Office: Portside Real Estate Group
IDX
Last Updated: January - 18 - 2025
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