85 Morning Street, East End Portland

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30700866
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 3 Units
Building Size (RSF): 2,988 SF
Gross Building Area: See Agent
Sale Price: $1,250,000
Unit Price: $416,666.67 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/2/2021

Overview / Comments

Prime location in Portland's East End. This quintessential New Englander presents multiple possibilities for improvement. Currently a three unit this building would lend itself to conversion to an impressive single family home, three luxury condos, or continued as a successful investment rental with off street parking and a single garage.
This classic c1894 property, situated on a quiet residential street, boasts a fenced backyard, decks on all three levels and sweeping views of Casco Bay.
A stones throw from the Eastern Prom, and easily walking distance to eateries and coffee shops perfectly round off why 85 Morning Street is the ideal East End investment.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $8,040 (Annual)
Finance Data Year 2020
Real Estate Taxes - Annual($) $8,040 (Annual)
Potential Rental Income $62,904 (Annual)
Net Operating Income $48,097 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Taxing Authority: Portland
Tax ID/APN: PTLD-000003-A000013-000001
Zoning: R6
Percent Occupied: 100%
Property Located Between: Congress and Moody Streets
Property Condition: Good
Number of Stories: 3
Year Built: 1900
Parking Type: Surface
Total Parking Spaces: 3
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Air Conditioning: Window Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,883 71,048 114,596
Median Age: 33.48 38.03 39.33
Households: 4,880 33,600 51,266

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