50 Alder Street
Portland, ME 04101
Baths
3
Square Ft.
3,653
$785,000
Be part of the transformation of Bayside, which is one of the fastest redeveloping neighborhoods in Portland. Located in the heart of Portland's Peninsula in the dynamic B2b business zone, this owner-occupied duplex at 50 Alder Street offers a great opportunity for both cash flow and long-term upside. The property… Read More has a significant value-add opportunity to transform currently unheated bonus rooms in Unit 48, totaling approximately 455 sqft, into living space by adding heating elements and improving the finish (with permits). If you're an owner-occupant looking to offset your mortgage or an investor seeking a strategic buy-and-hold, this property is full of opportunity. The building is in move-in ready condition, with tons of space, 4 bedrooms in #50 and 3 bedrooms in #48. It could be possible to transform #48 into a 4 bedroom 2 bathroom unit by adding a first floor master bedroom and en suite bathroom using existing space. Based on the measurements generated through creation of the floor plans, the gross living area is larger than what is reflected in the public records, with 1354 sqft in #48 and 2582 sqft in #50 for a total of 3936 sqft. There may be potential to add an additional unit within the existing building, with permits. Situated on a 6,076 sqft lot, the B2b zone allows for medium-scale mixed-use and multifamily development. Existing zoning allows this parcel to support up to 13 residential units by right (buyer to verify with the city). In addition to the duplex, the detached garage includes a workshop area—ideal for storage, a creative studio, or business-related use. Off-street parking adds convenience for residents or future occupants. Invest in one of Portland's most walkable neighborhoods, steps away from Bayside Bowl, with Whole Foods, Trader Joe's, the Old Port and the Arts District all within easy reach. This walker's paradise has a walkscore of 98 out of 100. This duplex is a versatile opportunity in a fast-evolving area. Read Less
Courtesy of EXP Realty 888-439-8743
Listing Snapshot
Days Online
23
Last Updated
Full Baths
3
Square Ft.
3,653
Lot Size
0.13 Acres
Year Built
1850
MLS Number
1630079
Additional Details
Property Access
Road Surface Type: "Paved"
Basement
Basement: "Interior", "Full", "Unfinished"
Building
Architectural Style: "Colonial", Building Area Total: 3,653, Construction Materials: "Vertical Siding", "Wood Frame", Number Of Units Total: 2, Year Built: 1850
Cooling
Cooling: "None"
Expenses
Operating Expense: $0
Exterior Features
Patio And Porch Features: "Porch", Patio And Porch Features: "Porch"
Floors
Flooring: "Wood", "Tile", "Carpet"
Foundation
Foundation Details: "Brick/Mortar"
Garage
Garage Included, 2 garage spaces
Heating
Heating: "Wood Stove", "Hot Water", "Baseboard", Heating Included
Income
Gross Income: $0
Laundry
Features: "Laundry - 1st Floor", "Main Level"
Lot
Features: "Level", "Intown", 0.13 acres, Area: 0.13, 5,663 square feet
Parking
Features: "1 - 4 Spaces", "Paved"
Pets Policy
Pets Allowed: "No Restrictions"
Property
Occupant Type: "Owner", Parcel Number: PTLD-000033-C000016-000001, Zoning: B2b
Roof
Roof: "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: $9,848, Tax Lot: 16+17
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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