$1,495,000
Turnkey 5-Unit Investment in Prime Munjoy Hill Location! Seasoned investors know the value of location, layout, and low-maintenance assets—this property checks all the boxes. Situated at the base of Munjoy Hill, one of Portland's most desirable and appreciating neighborhoods, this well-maintained five-unit building offers a solid, income-generating opportunity.… Read More All five units are two-bedrooms, a consistently high-demand layout that attracts long-term tenants. Interiors are efficiently designed, with spacious living areas, functional kitchens, and ample natural light—units that rent easily and retain well. The building has been well cared for, minimizing deferred maintenance and immediate capex needs. Off-street parking adds a competitive edge in this urban market, boosting tenant satisfaction and retention. The location is a key asset: walkable to local dining, coffee shops, artisan retail, and the Eastern Promenade. Public transportation access and proximity to downtown further broaden the tenant pool. This is an ideal opportunity for investors looking to expand or diversify with a plug-and-play multifamily in a high-demand submarket. Whether you're growing a portfolio or executing a 1031 exchange, this Munjoy Hill asset delivers dependable performance and long-term upside. Read Less
Courtesy of Spectrum Real Estate 207-805-3707
Listing Snapshot
Days Online
84
Last Updated
Full Baths
5
Square Ft.
4,732
Lot Size
0.15 Acres
Year Built
1985
MLS Number
1622196
Additional Details
Property Access
Road Surface Type: "Paved"
Basement
Basement: "Interior", "Walk-Out Access", "Finished", "Full"
Building
Architectural Style: "Other", "Colonial", Building Area Total: 4,732, Construction Materials: "Vinyl Siding", "Wood Frame", Number Of Units Total: 5, Year Built: 1985, 2 stories, 3 total stories
Cooling
Cooling: "None"
Expenses
Operating Expense: $24,500
Exterior Features
Other Equipment: "Internet Access Available", "Cable", Patio And Porch Features: "Deck", Patio And Porch Features: "Deck"
Floors
Flooring: "Vinyl", "Laminate", "Carpet"
Foundation
Foundation Details: "Concrete Perimeter"
Heating
Heating: "Zoned", "Hot Water", "Forced Air", "Baseboard", Heating Included
Income
Gross Income: $94,512
Interior Features
Features: "Bathtub", "Shower"
Laundry
Features: "Laundry - Coin"
Lot
Features: "Rolling/Sloping", "Open", "Intown", "Near Public Beach", "Near Shopping", "Near Public Transit", 0.15 acres, Area: 0.15, 6,534 square feet
Parking
Features: "5 - 10 Spaces", "Paved", "Common", "Off Street"
Pets Policy
Pets Allowed: "No Restrictions"
Property
Parcel Number: PTLD-000012-D000009-000001, Zoning: B2B
Roof
Roof: "Composition", "Pitched", "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: $11,167, Tax Lot: 9001
Utilities
Electric: "Circuit Breakers", Water Source: "Public"
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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.
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