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
Documents
Listing Office:
Portside Real Estate Group
IDX
Last Updated: January - 18 - 2025
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 ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.

Brochure_P1 ›
Rent Roll + Income + Expense ›