571 Cumberland Avenue, Portland, ME 04101 ⋆

571 Cumberland Avenue, Portland, ME 04101

$1,420,000

Property Type: Multi-Family Baths: 12 Square Footage: 8,126 Lot Size (sq. ft.): 39,204 Status: Closed

Current Price: $1,420,000 List Date: 6/01/2022 Last Modified: 1/12/2025

Overview

Description

12 unit investment opportunity in desirable downtown Portland location! 571 Cumberland Avenue is a professionally managed 12 unit building with four units per level in 11 studio and 1 one bedroom layouts. Units have high ceilings, large windows, steam radiators, and a mix of hardwood flooring and carpet. Built in 1884, this building maintains historic charm with updated features including a central fire alarm system, basement storage, coin-op laundry, upgraded electrical with separate meters, replacement windows, and 3-4 off-street parking spaces. Conveniently located near Maine Medical Center, the Historic West End neighborhood, Tandem Coffee and Bakery, Bramhall, and Hadlock Field.

Listing Details MLS# 1530655

Location Information

Street #: 571
Street Name: Cumberland
Street Type: Avenue
County: Cumberland
Town: Portland
State/Province: ME
Zip Code: 04101
Leased Land: No
Book: 30116
Page: 88-89
Map: 48
Block: E
Lot: 16
Zoning: R6
Zoning Overlay: No
Association: No
Full Tax Amount $: 17008
Tax Year: 2021

Contract Information

Original List Price: 1500000

Property Information

Surveyed: Unknown
Seasonal: No
Number of Units: 12
Total Baths: 12
Total Full Baths: 12
Color: Tan
Year Built: 1884
SqFt Finished Above Grade: 8126
SqFt Finished Total: 8126
Garage: No
Lot Size Acres +/-: 0.9
Source of Acreage: Public Records
Total Half Baths: 0
SqFt Finished Below Grade: 0
Garage Spaces: 0

Status Change Info

Pending Date: 2022-06-10
Closed Date: 2022-07-12
Closed Price: 1420000

Water Info

Water Frontage: No
Water View: No

Units

# of 1 BD Units: 12

More Information

Unit 1

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 1071
# Full Baths: Yes
# of Rooms: 2
# of Bedrooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 2

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 894
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 3

Lease: No
Level: First
Security Deposit: Yes
Monthly Rent: 743
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 4

Lease: Yes
Level: First
Security Deposit: Yes
Monthly Rent: 946
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Water: Yes
Sewer: Yes

Unit 5

Lease: Yes
Level: Second
Security Deposit: Yes
Monthly Rent: 1000
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 6

Lease: Yes
Level: Second
Security Deposit: Yes
Monthly Rent: 1020
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 7

Lease: Yes
Level: Second
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: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 8

Lease: No
Level: Second
Security Deposit: Yes
Monthly Rent: 708
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 9

Lease: No
Level: Third
Security Deposit: Yes
Monthly Rent: 654
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 10

Lease: No
Level: Third
Security Deposit: Yes
Monthly Rent: 915
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 11

Lease: No
Level: Third
Security Deposit: Yes
Monthly Rent: 770
# Full Baths: Yes
# of Rooms: Yes
Dedicated Electric Meter: Yes
Dedicated Gas Meter: Yes
Dedicated Water Heater: No
Electric: No
Heat: Yes
Range: Yes
Refrigerator: Yes
Sewer: Yes
Water: Yes

Unit 12

Lease: No
Level: Third
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: No
Heat: Yes
Range: No
Refrigerator: No
Sewer: No
Water: No

Utilities

Utilities On: Yes

Site

Corner Lot: Yes
Level: Yes
Sidewalks: Yes

Location

Intown: Yes

Roads

Paved: Yes
Public: Yes

Style

Other: Yes

Construction

Wood Frame: Yes

Levels

Multi-Level: Yes

Basement

Full: Yes
Unfinished: Yes

Foundation Materials

Brick/Mortar: Yes

Exterior

Asbestos: Yes
Shingle Siding: Yes

Roof

Shingle: Yes

Heat System

Radiator: Yes
Steam: Yes

Heat Fuel

Oil: Yes

Income & Expenses

Gross Income: 126052
Operating Expenses: 49214

Cooling

None: Yes

Floors

Carpet: Yes
Wood: Yes

Parking

1 - 4 Spaces: Yes
On Site: Yes

Electric

Circuit Breakers: Yes

Gas

Natural - On Site: Yes

Sewer

Public Sewer: Yes

Water

Public: Yes

Driveway

Gravel: Yes

Basement Entry

Interior: Yes

Water Heater

Gas: Yes
Off Heating System: Yes

Amenities

Laundry - Coin: Yes
Storage: Yes

Vehicle Storage

No Vehicle Storage: Yes

Property Features

Site: Corner Lot; Level; Sidewalks Location: Intown Roads: Paved; Public Style: Other Levels: Multi-Level Construction: Wood Frame Basement: Full; Unfinished Basement Entry: Interior Foundation Materials: Brick/Mortar Exterior: Asbestos; Shingle Siding Roof: Shingle Heat System: Radiator; Steam Heat Fuel: Oil Water Heater: Gas; Off Heating System Cooling: None Floors: Carpet; Wood Amenities: Laundry - Coin; Storage Driveway: Gravel Parking: 1 - 4 Spaces; On Site Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public

Documents

Lead Paint Addendum Public Access ›

Operating Statement 2021 ›

Arsenic Wood ›

Deed Public Access ›

Property Disclosure Public Access ›

Listing Office: Legacy Properties Sotheby's International Realty

IDX

Last Updated: January - 12 - 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.

571 Cumberland Avenue, Portland, ME 04101 (MLS# 1530655)