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About the Listing 2463 - 022551
Mixed-use investment opportunity in Portland's desirable East End, an area that continues to see strong growth and investment. This four-unit property features three residential apartments and one commercial space, offering a combination of strong rental income, flexibility, and long-term value. The residential units include a completely renovated 2-bedroom, 1-bathroom apartment with a bonus room, a 2-bedroom, 1-bathroom apartment, and a renovated 3-bedroom, 2-bathroom apartment. Extensive capital improvements include a new roof (2023), new siding, new windows, three new heat pumps, updated plumbing and electrical systems, renovated kitchens and bathrooms, and substantial improvements to the commercial space. The commercial unit offers a versatile blank canvas with several approved uses, including food & beverage, office, retail, and more, with a renovated shell ready for customization. This flexible commercial component offers an opportunity to tailor the space to a variety of uses while complementing the property's existing residential income. Steps from the Roux Institute, Eastern Promenade, East End Beach, the Old Port, Portland's waterfront, and countless restaurants, breweries, coffee shops, and local retail shops. This is a rare opportunity to acquire a well-improved mixed-use asset in a growing Portland neighborhood with strong fundamentals and continued upside. Showings by appointment only. Please allow a minimum of 48 hours' notice. Please see the attached list of capital improvements for a summary of recent renovations and upgrades.
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 4 Full
- Appliances:
- Air Cond: Heat Pump,Window Unit(s)
- Heating: Electric,Oil,Baseboard,Heat Pump,Hot Water
- Fireplaces:
- Floor: Carpet,Laminate,Hardwood
- Above Ground Sq Ft: 4438
- Below Ground Sq Ft: 0
- Basement: Exterior Entry,Walk-Out Access
- Other:
- Water: Public
Exterior Details
- Lot Description: Intown,Near Public Beach,Near Shopping,Near Turnpike/Interstate,Neighborhood,Level,Sidewalks,Near Public Transit
- Garage Capacity: N/A
- Zoning: IS-FBC
- Roof: Shingle
- Others:
- Sewer: Public Sewer
- Parking Features: No Driveway,Off Street
Financial Details
- Tax Amount: $9,946
- Taxes w/Assessments: N/A
- Tax/Property ID: PTLD-000020-B000004-000001
- Tax Year: 2024
Payment Calculator
Monthly Payment
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69 Newbury St Portland, ME 04101
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