$ 1,395,000
-
$1,395,000
Price -
0
Bed -
6
Bath -
3,990
SqFt
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About the Listing 3059 - 008182
Rare opportunity to acquire an exceptional five-unit multifamily property in one of South Portland's most desirable neighborhoods. Set on approximately 0.60 acres, this offering combines strong current income, value-add potential, and an attractive owner-occupied opportunity. The property has been meticulously maintained with extensive capital improvements, including roofing, a rebuilt front fire escape and deck system, electrical upgrades, an efficient natural gas heating system, exterior improvements, and a beautiful brick patio. This is a true turnkey asset with a level of care rarely found in today's multifamily market. The owner's residence features a townhouse-style layout with expansive living areas, flexible bonus space, a barn, and a stunning great room above. Enjoy views toward the Portland skyline and Casco Bay from the private deck, while large windows provide abundant natural light. The grounds include a circular driveway, mature gardens, green space, and a detached one-car garage. The generous lot offers a setting rarely found this close to Portland and South Portland amenities, with potential future expansion or redevelopment opportunities. The property consists of three one-bedroom apartments, one studio apartment, and a spacious two-bedroom owner's unit. Current rents are below market, providing immediate upside potential. Tenants pay their own electricity, while the owner provides heat and hot water through an efficient natural gas boiler. With approximately $88,000 in net operating income and a 6.4% cap rate, this property offers stable cash flow, strong tenant profiles, and long-term upside. Whether seeking a quality investment, owner-occupied multifamily, or future development opportunity, 32 Clemons Street is one of Greater Portland most compelling offerings.
Listing Highlights
Status
Active
Days on Site
9
Property Type
Multi-Family
MLS ®
1665032
Year Built
1930
Total Square Footage
3,990
Lot/Acreage
0.6
County
Cumberland
Neighborhood
Meetinghouse Hill Neighborhood
School District
South Portland Public Schools
Interior Details
- Bedrooms: 0
- Bathrooms: 6 Full
- Appliances: Cable,Internet Access Available
- Air Cond:
- Heating: Gas Natural,Baseboard,Hot Water
- Fireplaces:
- Floor: Carpet,Tile,Vinyl,Wood,Hardwood
- Above Ground Sq Ft: 3990
- Below Ground Sq Ft: 0
- Basement: Interior Entry,Full,Unfinished
- Other: 1st Floor Bedroom,Bathtub,One-Floor Living
- Water: Public
Exterior Details
- Lot Description: Interior Lot,Near Country Club,Near Golf Course,Near Public Beach,Near Shopping,Near Turnpike/Interstate,Near Town,Neighborhood,Suburban,Near Railroad,Open Lot,Rolling Slope,Landscaped,Near Public Transit
- Garage Capacity: 3 car
- Zoning: RA
- Roof: Pitched,Shingle
- Others:
- Sewer: Public Sewer
- Parking Features: Paved,11 - 20 Spaces,On Site,Off Street,Detached,Inside Entrance
Financial Details
- Tax Amount: $11,636
- Taxes w/Assessments: N/A
- Tax/Property ID: SPOR-000014-000000-000020
- Tax Year: 2026
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Questions About..
32 Clemons St South Portland, ME 04106
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