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

Overview

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.

Listing Details MLS# 1593947

Location Information

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

Contract Information

Original List Price
1499000

Property Information

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

Status Change Info

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

Water Info

Water Frontage
No
Water View
No

Building Info

# Stories
3
# Floors
3
# Heating Units
6

More Information

Units

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

Unit 1

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

Unit 2

Lease
No
Level
Second
Security Deposit
Yes
Monthly Rent
1287
# Full Baths
Yes
# 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

Unit 3

Lease
No
Level
Third
Security Deposit
Yes
Monthly Rent
1430
# Full Baths
Yes
# 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

Unit 4

Lease
No
Level
First
Security Deposit
Yes
Monthly Rent
1760
# Full Baths
Yes
# 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
Water
Yes
Sewer
Yes

Unit 5

Lease
No
Level
Second
Security Deposit
Yes
Monthly Rent
1094.5
# Full Baths
Yes
# 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

Unit 6

Lease
No
Level
Third
Security Deposit
Yes
Monthly Rent
1410
# Full Baths
Yes
# 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

Utilities

Utilities On
Yes

Site

Level
Yes
Sidewalks
Yes

Location

Historic District
Yes
Intown
Yes
Near Public Beach
Yes
Near Shopping
Yes
Neighborhood
Yes

Roads

Paved
Yes
Public
Yes

Transportation

Public Transport Access
Yes

Recreational Water

Nearby
Yes

Style

Other
Yes

Construction

Wood Frame
Yes

Levels

Multi-Level
Yes

Basement

Dirt Floor
Yes
Full
Yes
Slab
Yes
Unfinished
Yes

Foundation Materials

Brick/Mortar
Yes
Stone
Yes

Exterior

Vinyl Siding
Yes

Roof

Membrane
Yes

Heat System

Direct Vent Heater
Yes
Heat Pump
Yes

Energy Efficiency

Tankless Water Heater
Yes

Heat Fuel

Electric
Yes
Gas Natural
Yes

Income & Expenses

Gross Income
105378
Operating Expenses
30543

Cooling

Heat Pump
Yes

Floors

Laminate
Yes
Tile
Yes
Wood
Yes

Parking

No Parking
Yes

Electric

Circuit Breakers
Yes
On Site
Yes

Gas

Natural - On Site
Yes

Sewer

Public Sewer
Yes

Water

Public
Yes

Driveway

No Driveway
Yes

Basement Entry

Interior
Yes

Water Heater

Gas
Yes
On Demand
Yes

Amenities

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

Patio and Porch Features

Deck
Yes

Vehicle Storage

No Vehicle Storage
Yes

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.
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