264 State Street, Portland, ME 04101 ⋆

264 State Street, Portland, ME 04101

$1,400,000

Property Type: Multi-Family Baths: 13 Square Footage: 5,225 Lot Size (sq. ft.): 4,792 Status: Closed

Current Price: $1,400,000 List Date: 10/03/2022 Last Modified: 1/12/2025

Overview

Description

The ''Charles Tobie House'' represents a rare opportunity to purchase one of Portland's most stately and admired multi-units. This 13-Unit proudly sits on the corner of State and Sherman Street and is ideally located in the Parkside neighborhood of Portland. Located between USM and Maine Medical Center, the ability to command top rents is assured! This property features a large off-street parking lot, coin-op laundry, separate/metered utilities, and a city monitored fire alarm system with fire suppression. There is a large value-add opportunity for the next owner and plenty of charming details still intact. 2 of the 13 Units have been left vacant allowing an opportunity for the next owner to renovate or simply lease at a higher rate. This property is now offered BELOW appraised value - one of very few (if any) properties in Portland offering equity at closing! This is an opportunity not to be missed. For a video walk-thru go to YouTube and enter the property address.

Listing Details MLS# 1544862

Location Information

Street #: 264
Street Name: State
Street Type: Street
County: Cumberland
Town: Portland
State/Province: ME
Zip Code: 04101
Zip +4: 2379
Leased Land: No
Book: 37549
Page: 289
Map: 48
Block: D
Lot: 23
Zoning: R6
Zoning Overlay: No
Association: No
Full Tax Amount $: 17043
Tax Year: 2021

Contract Information

Original List Price: 2195000

Property Information

Surveyed: No
Seasonal: No
Owner Occupied: No
Deed/Conveyance Type Offered: Quit Claim w/Covenant
Deed: All
Number of Units: 13
Total Baths: 13
Total Full Baths: 13
Year Built: 1900
SqFt Finished Above Grade: 5225
SqFt Finished Total: 5225
SqFt Source: Public Records
Garage: No
Lot Size Acres +/-: 0.11
Source of Acreage: Public Records
Total Half Baths: 0
SqFt Finished Below Grade: 0
Garage Spaces: 0

Status Change Info

Pending Date: 2023-01-25
Closed Date: 2023-03-31
Closed Price: 1400000

Water Info

Water Frontage: No
Water View: No

Building Info

# Stories: 3
# Floors: 4
# Heating Units: 13
# Water Heaters: 2

More Information

Units

# of 1 BD Units: 13

Unit 1

Lease: No
Level: First
Security Deposit: Yes
Monthly Rent: 650
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 2

Lease: No
Level: First
Security Deposit: Yes
Monthly Rent: 850
# Full Baths: Yes
# of Rooms: 2
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 3

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 850
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 4

Lease: No
Level: First
Security Deposit: Yes
Monthly Rent: 856
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Water: Yes
Sewer: Yes

Unit 5

Lease: No
Level: Second
Security Deposit: Yes
Monthly Rent: 700
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 6

Lease: No
Level: Second
Security Deposit: Yes
Monthly Rent: 1050
# Full Baths: Yes
# of Rooms: 3
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 7

Lease: No
Level: Second
Security Deposit: Yes
Monthly Rent: 1168
# Full Baths: Yes
# of Rooms: 3
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 8

Lease: No
Level: Second
Security Deposit: Yes
Monthly Rent: 750
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 9

Lease: No
Level: Second
Security Deposit: Yes
Monthly Rent: 700
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 10

Lease: No
Level: Third
Security Deposit: Yes
Monthly Rent: 650
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 11

Lease: No
Level: Third
Security Deposit: Yes
Monthly Rent: 800
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 12

Lease: No
Level: Third
Security Deposit: Yes
Monthly Rent: 600
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 13

Lease: No
Level: Third
Security Deposit: Yes
Monthly Rent: 920
# Full Baths: Yes
# of Rooms: 3
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: Yes
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Utilities

Utilities On: Yes

Sold Info

Appraiser Email Address: windham1941@gmail.com

Site

Corner Lot: Yes
Sidewalks: Yes

Location

Historic District: Yes
Intown: Yes
Near Public Beach: Yes
Near Shopping: Yes
Near Town: Yes
Near Turnpike/Interstate: Yes

Roads

Paved: Yes

Style

Victorian: Yes

Construction

Masonry: Yes

Basement

Brick/Mortar: Yes
Finished: Yes
Walk-Out Access: Yes

Foundation Materials

Brick/Mortar: Yes

Exterior

Brick: Yes

Roof

Slate: Yes

Heat System

Direct Vent Heater: Yes

Energy Efficiency

Water Heater: Yes

Heat Fuel

Gas Natural: Yes

Income & Expenses

Gross Income: 126528
Operating Expenses: 62464

Cooling

None: Yes

Floors

Laminate: Yes
Tile: Yes
Vinyl: Yes
Wood: Yes

Parking

5 - 10 Spaces: Yes
Off Street: Yes
Paved: Yes

Electric

Circuit Breakers: Yes

Gas

Natural - On Site: Yes

Sewer

Public Sewer: Yes

Water

Public: Yes

Driveway

Paved: Yes

Basement Entry

Exterior Only: Yes

Water Heater

Gas: Yes
Tank: Yes

Amenities

Laundry - Coin: Yes
Sprinkler: Yes

Equipment

Internet Access Available: Yes
Other Equipment: Yes

Vehicle Storage

No Vehicle Storage: Yes

Property Features

Site: Corner Lot; Sidewalks Location: Historic District; Intown; Near Public Beach; Near Shopping; Near Town; Near Turnpike/Interstate Roads: Paved Style: Victorian Construction: Masonry Basement: Brick/Mortar; Finished; Walk-Out Access Basement Entry: Exterior Only Foundation Materials: Brick/Mortar Exterior: Brick Roof: Slate Heat System: Direct Vent Heater Heat Fuel: Gas Natural Water Heater: Gas; Tank Cooling: None Floors: Laminate; Tile; Vinyl; Wood Amenities: Laundry - Coin; Sprinkler Equipment: Internet Access Available; Other Equipment Energy Efficiency: Water Heater Driveway: Paved Parking: 5 - 10 Spaces; Off Street; Paved Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

Rent control FAQ ›

Deed Public Access ›

Lead Paint Addendum Public Access ›

Property Disclosure Public Access ›

Section 8 Proforma ›

Income/Expense ›

Listing Office: Keller Williams Realty

IDX

Last Updated: January - 12 - 2025

Broker Attribution: (207) 232-8877

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.

264 State Street, Portland, ME 04101 (MLS# 1544862)