$1,395,000
Investor Opportunity on Munjoy Hill Fully Leased 4-Unit Asset 2 Buildings Partial Casco Bay Views Rare opportunity to acquire a fully leased four-unit, two-building investment property in Portland's highly desirable Munjoy Hill neighborhood. Situated on a single lot with partial Casco Bay views from… Read More every unit, this 10-bedroom, 3,000+ SF property offers stable in-place income, strong tenant demand, and long-term upside in one of the city's most sought-after locations. All four units are leased at full market rates, providing immediate cash flow. The property has been owned and thoughtfully improved over the past 19 years, with major capital upgrades that enhance value and reduce near-term expense exposure, including new roofs on both buildings, updated kitchens and baths, casement windows, heating improvements, fresh paint, and newer carpeting. The unit mix is highly rentable and offers broad appeal. The two lower units each feature 2BR/1BA layouts above grade plus finished basement space ideal for an additional bedroom, office, family room, or bonus area. The two upper units offer bright 2BR/1BA layouts with strong natural light and bay-view outlooks. Three of the four units include in-unit laundry, with potential to add laundry to the fourth unit. Outdoor amenities further support tenant demand, including private garden spaces for both buildings and balcony decks for the upper units. On-street parking is readily available on St. Lawrence and Fore Street plus one on-site space. Parking garages close-by provide space during snow bans. The location adds to the investment story, just minutes from the Eastern Prom, Downtown Portland, and the Roux Institute at Northeastern University. Munjoy Hill's walkable mix of cafés, restaurants, shops, waterfront access, and park land continues to support strong rental demand and long-term appreciation. A stabilized, turnkey multi-unit property with views, meaningful upgrades and full market-rate occupancy. Read Less
Courtesy of Keller Williams Realty 207-553-2662
Listing Snapshot
Days Online
36
Last Updated
Full Baths
4
Square Ft.
3,304
Lot Size
0.07 Acres
Year Built
1983
MLS Number
1651128
Additional Details
Property Access
Road Surface Type: "Paved"
Basement
Basement: "Interior", "Walk-Out Access", "Brick/Mortar", "Finished", "Full"
Building
Architectural Style: "Other", Building Area Total: 3,304, Construction Materials: "Vinyl Siding", "Wood Frame", Number Of Units Total: 4, Year Built: 1983, 2 stories, 2 total stories
Cooling
Cooling: "None"
Expenses
Operating Expense: $32,595
Exterior Features
Other Equipment: "Internet Access Available", "Cable", Patio And Porch Features: "Deck", "Porch", Patio And Porch Features: "Deck", "Porch"
Fence
Fencing: "Fenced"
Floors
Flooring: "Wood", "Vinyl", "Tile", "Carpet"
Foundation
Foundation Details: "Concrete Perimeter", "Brick/Mortar"
Water Features
Water Body Name: Casco Bay
Heating
Heating: "Direct Vent Heater", "Baseboard", Heating Included
Income
Gross Income: $83,070
Interior Features
Features: "1st Floor Bedroom", "Bathtub", "Shower", "Storage"
Laundry
Features: "Washer Hookup"
Lot
Features: "Well Landscaped", "Open", "Level", "Sidewalks", "Intown", "Near Public Beach", "Near Shopping", "Near Turnpike/Interstate", "Neighborhood", "Near Public Transit", 0.07 acres, Area: 0.07, 3,049 square feet
Owner Pays
Owner Name: On FIle
Parking
Features: "1 - 4 Spaces", "Paved", "On Site", "On Street"
Property
Parcel Number: PTLD-000016-J000010-000001, Zoning: RN-4
Roof
Roof: "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: $14,027, Tax Lot: 10-11
Utilities
Electric: "Circuit Breakers", Water Source: "Public"
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