15 Cumberland Avenue, Portland, ME 04101 ⋆

15 Cumberland Avenue, Portland, ME 04101

$1,300,000

Property Type: Multi-Family Baths: 5 Square Footage: 4,046 Lot Size (sq. ft.): 5,227 Status: Closed

Current Price: $1,300,000 List Date: 6/05/2023 Last Modified: 1/15/2025

Overview

Description

Comprehensively updated and multi-family, located in one of Maine's most desirable neighborhoods is ideal for an owner occupant, investor ($79K in net income and a 5 cap) or developer. Located in the heart of Portland's desirable East End the site is a short walk to the parks, playgrounds, bakeries, breweries, boutiques and business of Munjoy Hill, inner Washington Ave and Portland Foreside... locations don't get more desirable. This is a key component to garnering great rents, having zero vacancies, enjoying unparalleled appreciation and most importantly - providing an outstanding quality of life. Over the last several years the owners have updated the building unit by unit. From the semi-boring stuff like windows, doors, electrical, plumbing, heating... to the more enjoyable things like updated kitchens, baths, in-unit laundry, flooring and lighting this building is turn-key and condo-quality. Rents are at market and there is banked rent (allowing a new owner to raise the rents signi ... (Read more)

Listing Details MLS# 1561158

Location Information

Street #: 15
Street Name: Cumberland
Street Type: Avenue
County: Cumberland
Town: Portland
State/Province: ME
Zip Code: 04101
Zip +4: 3274
Leased Land: No
Book: 35110
Page: 257
Map: 14
Block: A
Lot: 24
Zoning: R-6
Zoning Overlay: Unknown
Neighborhood Association: Munjoy Hill/East End
Association: No
Full Tax Amount $: 13627
Tax Year: 2022

Contract Information

Original List Price: 1495000

Property Information

Surveyed: Unknown
Seasonal: No
Owner Occupied: No
Deed: All
Number of Units: 5
Total Baths: 5
Total Full Baths: 5
Color: Maize
Year Built: 1900
SqFt Finished Above Grade: 4046
SqFt Finished Total: 4046
SqFt Source: Public Records
Garage: No
Lot Size Acres +/-: 0.12
Source of Acreage: Public Records
Total Half Baths: 0
SqFt Finished Below Grade: 0
Garage Spaces: 0

Status Change Info

Pending Date: 2023-06-20
Closed Date: 2023-07-31
Closed Price: 1300000

Water Info

Water Frontage: No
Water View: No

Building Info

# Stories: 3
# Heating Units: 5
# Water Heaters: 3

More Information

Units

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

Unit 1

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 1550
# Full Baths: Yes
# of Rooms: 3
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 2

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 1300
# Full Baths: Yes
# of Rooms: 2
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 3

Lease: Yes
Level: Second
Security Deposit: Yes
Monthly Rent: 2140
# Full Baths: Yes
# of Rooms: 4
# of Bedrooms: 2
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 4

Lease: Yes
Level: Second
Security Deposit: Yes
Monthly Rent: 1925
# Full Baths: Yes
# of Rooms: 4
# of Bedrooms: 2
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Water: Yes
Sewer: Yes

Unit 5

Lease: Yes
Level: Basement
Security Deposit: Yes
Monthly Rent: 1525
# Full Baths: Yes
# of Rooms: 3
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: Yes
Electric: No
Heat: No
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Utilities

Utilities On: Yes

Sold Info

Appraiser Email Address: brderaney@gmail.com

Site

Corner Lot: Yes
Open: Yes
Rolling/Sloping: Yes
Sidewalks: Yes
Well Landscaped: Yes

Location

Intown: Yes
Near Country Club: Yes
Near Golf Course: Yes
Near Public Beach: Yes
Near Railroad: Yes
Near Shopping: Yes
Near Turnpike/Interstate: Yes
Neighborhood: Yes

Roads

Paved: Yes
Public: Yes

Transportation

Major Road Access: Yes
Near Airport: Yes
Public Transport Access: Yes
Rail Available: Yes

Recreational Water

Nearby: Yes
Public: Yes

Style

New Englander: Yes

Construction

Wood Frame: Yes

Basement

Bulkhead: Yes
Full: Yes
Unfinished: Yes

Foundation Materials

Brick/Mortar: Yes

Exterior

Wood Siding: Yes

Roof

Shingle: Yes

Heat System

Baseboard: Yes
Direct Vent Heater: Yes
Hot Water: Yes
Zoned: Yes

Heat Fuel

Gas Natural: Yes

Income & Expenses

Gross Income: 96300
Operating Expenses: 22042

Cooling

None: Yes

Floors

Carpet: Yes
Vinyl: Yes
Wood: Yes

Parking

1 - 4 Spaces: Yes
Off Street: Yes
On Site: Yes
Paved: Yes

Electric

Circuit Breakers: Yes

Gas

Natural - On Site: Yes

Sewer

Public Sewer: Yes

Water

Public: Yes

Driveway

Paved: Yes

Basement Entry

Bulkhead: Yes
Interior: Yes

Water Heater

Electric: Yes
Off Heating System: Yes

Amenities

1st Floor Bedroom: Yes
Bathtub: Yes
Fence: Yes
Laundry - Hookup: Yes
Other Amenities: Yes
Shower: Yes
Storage: Yes

Patio and Porch Features

Porch: Yes

Vehicle Storage

No Vehicle Storage: Yes

Property Features

Site: Corner Lot; Open; Rolling/Sloping; Sidewalks; Well Landscaped Location: Intown; Near Country Club; Near Golf Course; Near Public Beach; Near Railroad; Near Shopping; Near Turnpike/Interstate; Neighborhood Roads: Paved; Public Transportation: Major Road Access; Near Airport; Public Transport Access; Rail Available Recreational Water: Nearby; Public Style: New Englander Construction: Wood Frame Basement: Bulkhead; Full; Unfinished Basement Entry: Bulkhead; Interior Foundation Materials: Brick/Mortar Exterior: Wood Siding Roof: Shingle Heat System: Baseboard; Direct Vent Heater; Hot Water; Zoned Heat Fuel: Gas Natural Water Heater: Electric; Off Heating System Cooling: None Floors: Carpet; Vinyl; Wood Amenities: 1st Floor Bedroom; Bathtub; Fence; Laundry - Hookup; Other Amenities; Shower; Storage Patio and Porch Features: Porch Driveway: Paved Parking: 1 - 4 Spaces; Off Street; On Site; Paved Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

Property Disclosure ›

2023 Income and Expense ›

Improvements ›

Lead Paint ›

Survey ›

Heating Systems Summary ›

Deed Public Access ›

Listing Office: Benchmark Real Estate

IDX

Last Updated: January - 15 - 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.

15 Cumberland Avenue, Portland, ME 04101 (MLS# 1561158)